Thailand’s Kasikornbank launches $100M fund for Web3 and AI in Asia Pacific

Kasikornbank has initiated a $100 million fund, KXVC, aimed at investing in the Asia Pacific’s internet economy, predicted to reach $1 trillion by 2030. KXVC, originating from the bank’s innovation arm, will focus on startups in Israel, the US, Europe, and Asia Pacific, collaborating with major funds like HashKey Capital.

Key targets include Web3 infrastructure firms, validator node operators, privacy-focused companies, and NFT consumerization.

The fund will also explore AI investments, having previously backed firms like Cryptomind and Grab. Asia’s crypto and Web3 scene is thriving, with Hong Kong, South Korea, and Singapore attracting substantial investments. Taiwan’s chipmaking prowess and China’s metaverse and AI projects further bolster the region’s tech landscape.