According to Cointelegraph, Kasikornbank (KBank), one of Thailand's largest private banks, has launched a $100 million flagship fund called KXVC to invest in artificial intelligence (AI), Web3, and Deep Tech startups, focusing on the Asia-Pacific region. Krating Poonpol, Chairman of KBank Business Technology Group, will lead the enterprise.
KXVC aims to invest in consumer-focused AI, cybersecurity, AI/ML tools such as deployment platforms, data annotation and model optimization, and problem-specific AI startups. Within Web3, the fund will target Web3 infrastructures, nodes validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternative L1/L2s, shared securities, LsdFi, and consumerization of NFTs.
The fund plans to invest in over 30 startups and funds globally, with geographic focuses in the United States, European Union, Israel, and the Asia-Pacific region. KBank has previously experimented with decentralized finance (DeFi) services and joined Visa's blockchain-based B2B solution for cross-border payment transactions. As of 2023, KBank held 3.6 trillion Thai Bhat, or approximately $100 billion, in assets.