1. BITBILIHome
  2. Article

Thailand’s KBank launches $100 Million fund for Web3 and AI startups

• 269 views

TL;DR Breakdown

  • Thailand’s KBank has launched a $100 million venture capital fund, KXVC, managed by its tech subsidiary Kasikorn Business Technology Group, to invest in Web3 and AI startups globally.
  • The fund aims to counter the declining investment volumes in the crypto venture capital market by focusing on high-growth startups in emerging technology sectors.
  • KXVC’s global focus, covering the Asia Pacific, the U.S., the EU, and Israel, positions KBank as a leader in technological innovation and could set the stage for future advancements in Web3 and AI.

Description

Thailand’s financial giant, Kasikorn Bank, commonly known as KBank, has made a new move by earmarking $100 million for a venture capital fund. This fund, known as KXVC, is an initiative spearheaded by the bank’s technological division, Kasikorn Business Technology Group (KBTG). With a global reach that includes the Asia Pacific region, the United States, … Read more

Thailand’s financial giant, Kasikorn Bank, commonly known as KBank, has made a new move by earmarking $100 million for a venture capital fund. This fund, known as KXVC, is an initiative spearheaded by the bank’s technological division, Kasikorn Business Technology Group (KBTG). With a global reach that includes the Asia Pacific region, the United States, the European Union, and Israel, the fund aims to inject capital into more than 30 startups and investment funds.

KXVC’s leadership comprises Krating Poonpol, the group chairman of KBTG, and Jom Vimolnoht, the managing director of the fund. The fund’s investment strategy is not confined to a single niche; it spans across various technological domains, including but not limited to, zero-knowledge proofs and liquid staking derivatives. This initiative is an extension of KBTG’s prior venture-building activities under the Kasikorn X (KX) brand, which had partnerships with crypto funds like 1KX, Hashkey Capital, and Symbolic Capital.

The unveiling of KXVC comes at a time when the crypto venture capital market is navigating through turbulent waters. Data indicates that investments in crypto startups have been dwindling for five successive quarters. Despite this, several venture capital funds in the crypto space, such as Kraken Ventures and Electrical Capital, are in the process of raising capital. KXVC aims to defy this downward trend by zeroing in on startups that show promising growth in emerging tech sectors.

Global tech ecosystem: A new chapter

KBank’s decision to launch KXVC is not just a milestone for Thailand but a significant development for the global tech landscape. By focusing on Web3 and AI, the bank is positioning itself as a leader in technological evolution. The fund’s geographical focus is expansive, covering not just the Asia Pacific but also the United States, the European Union, and Israel, indicating a vision that transcends regional limitations.

In a nutshell, KBank’s $100 million KXVC fund is a strategic move that could potentially reshape the contours of investment in Web3 and AI technologies. By navigating a challenging investment environment and focusing on high-growth potential startups, KXVC could serve as a catalyst for innovation and collaboration in the global tech ecosystem. As the world of technology continues to evolve, this initiative could very well set the stage for future partnerships and technological breakthroughs in the Web3 and AI arenas.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Thailand’s KBank launches $100 Million fund for Web3 and AI startups

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月15日 04:07
Next 2023年9月15日 05:51

Related articles

  • FBI and GCHQ issue joint advisory on Russian malware targeting crypto wallets

    TL;DR Breakdown A joint advisory from the FBI, NSA, CISA, and the UK’s NCSC has warned about a new malware called Infamous Chisel, linked to Russia’s GRU military intelligence agency, that targets cryptocurrency wallets and exchange apps on Android devices. The malware specifically seeks out directories related to popular crypto applications like Brave, Binance, Coinbase, and the Trust crypto wallet, as well as communication platforms Telegram and Discord. It also targets the Android Keystore system for storing private keys. Despite its low to medium sophistication and lack of stealth techniques, the malware poses a significant threat to digital assets, especially as it comes at a time when cybercriminals are increasingly targeting valuable digital assets, including cryptocurrencies. Description A joint advisory report from the Federal Bureau of Investigation (FBI), National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), and the UK’s National Cyber Security Centre (NCSC) has shed light on a new malware strain known as Infamous Chisel. This malware is specifically designed to target cryptocurrency wallets and exchange applications. The malware … Read more A joint advisory report from…

    Article 2023年9月2日

  • PancakeSwap expands to zkSync era, enhancing DeFi scalability

    TL;DR Breakdown PancakeSwap has launched on zkSync Era, improving scalability and efficiency. The launch is part of a trend of DeFi platforms using Layer 2 solutions for mass adoption. zkSync Era offers reduced gas costs and faster transactions, recently surpassing Ethereum’s daily transactions. Description In a significant development for the DeFi sector, PancakeSwap, the leading decentralized exchange (DEX) on the Binance Chain, has announced its launch on zkSync Era, an Ethereum Layer 2 network. This move is set to enhance the scalability and efficiency of the DEX, offering users reduced gas costs and faster transaction times. PancakeSwap v3 currently … Read more In a significant development for the DeFi sector, PancakeSwap, the leading decentralized exchange (DEX) on the Binance Chain, has announced its launch on zkSync Era, an Ethereum Layer 2 network. This move is set to enhance the scalability and efficiency of the DEX, offering users reduced gas costs and faster transaction times. PancakeSwap v3 currently supports swaps and liquidity providing (LP), with yield farming and LP token staking set to come online in the coming weeks. The exchange…

    Article 2023年7月29日

  • Justin Beiber’s hit song Company to be released as NFT

    TL;DR Breakdown Justin Beiber’s hit song Company will be released as an NFT. Fan empowerment and creator recognition through blockchain. Description In a groundbreaking move set for September 7, anotherblock, a blockchain-centric music technology platform, collaborates with Andreas Schuller, known as Axident, to release the hit track “Company” as a nonfungible token (NFT), with only 2,000 copies available. Global pop icon Justin Bieber’s song will be transformed into an NFT, providing fans with a unique opportunity … Read more In a groundbreaking move set for September 7, anotherblock, a blockchain-centric music technology platform, collaborates with Andreas Schuller, known as Axident, to release the hit track “Company” as a nonfungible token (NFT), with only 2,000 copies available. Global pop icon Justin Bieber’s song will be transformed into an NFT, providing fans with a unique opportunity to invest in a stake of the royalties. Justin Beiber’s Company to have only 2,000 copies Axident will retain the rights to the song, and NFT owners will gain access to a 1% share of the song’s streaming royalties. This innovative approach highlights the evolving role…

    Article 2023年9月6日

  • U.S. banks lose over $1 billion – How’d that happen?

    TL;DR Breakdown U.S. banks spent over $1 billion on severance costs in H1 2023 due to overexpansion during COVID-19. Goldman Sachs, Morgan Stanley, and Citigroup were among the hardest hit, spending millions on staff reductions. Industry leaders are divided over whether more layoffs will be needed as the year progresses. Description A recent financial shock has rocked Wall Street as U.S. banks have tallied up over $1 billion in severance costs in the first half of 2023. This financial hit signals the high price of rectifying aggressive overexpansion during the COVID-19 pandemic. The billion-dollar payout Among the banking giants bearing the brunt of these costs are … Read more A recent financial shock has rocked Wall Street as U.S. banks have tallied up over $1 billion in severance costs in the first half of 2023. This financial hit signals the high price of rectifying aggressive overexpansion during the COVID-19 pandemic. The billion-dollar payout Among the banking giants bearing the brunt of these costs are Goldman Sachs, Morgan Stanley, and Citigroup. Goldman Sachs, which has felt the sting of a slowdown…

    Article 2023年7月21日

  • eToro Temporarily Halts ALGO, MANA, MATIC, and DASH Purchases for US Customers 

    TL;DR Breakdown Retail trading platform eToro has temporarily halted purchases of ALGO, MANA, MATIC, and DASH for its US customers in response to SEC lawsuits designating these cryptocurrencies as securities. The platform remains supportive of the crypto sector and is proactively addressing regulatory uncertainties, emphasizing collaboration with regulators to shape the future of the industry. Leading retail trading platform eToro has announced a temporary halt on the purchase of four cryptocurrencies, Algorand (ALGO), Decentraland (MANA), Polygon (MATIC), and Dash (DASH), for its customers in the United States. The decision comes in response to recent lawsuits by the United States Securities and Exchange Commission (SEC) that label these tokens as securities. eToro emphasizes that it remains a supporter of the crypto sector but is taking precautionary measures to ensure compliance with evolving regulatory requirements. Contents hide 1 eToro Reacts to Regulatory Uncertainty, Halts Support for ALGO, MANA, MATIC, and DASH 2 eToro’s Commitment to Diversified Asset Classes and Collaboration with Regulators 3 eToro’s Previous Actions in Response to Regulatory Challenges 4 Conclusion eToro Reacts to Regulatory Uncertainty, Halts Support for ALGO,…

    Article 2023年6月16日
TOP