Thailand’s 2nd Largest Bank Launches A $100M Fund For AI And Web3

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Key Highlights: 

  • A $100 million fund has been established by Kasikornbank (KBank) to finance deep tech, web3, and AI firms.
  • Krating Poonpol, group chairman of KBTG, and Jom Vimolnoht, managing director of KXVC, will serve as the fund’s managers.
  • The fund specifically targets the commercialization of NFTs, node validators, RPC providers, and Web3 infrastructures for Web3, among other things.

Thailand’s second-largest bank, Kasikornbank (KBank), has made a significant move into emerging technologies by announcing the launch of a $100 million fund to support startups in Artificial Intelligence (AI), Web3, and deep technology.

The KBank Innovation Fund is a clear signal of the bank’s commitment to fostering innovation and technology-driven entrepreneurship in the region. KBank’s decision to focus on AI and Web3 aligns with the global trend towards decentralized technologies and smart applications.

This initiative comes as Thailand continues to position itself as a hub for tech innovation in Southeast Asia. The country’s government has actively promoted technology and innovation, making it an attractive destination for startups and investors.

KBank has a strong track record of supporting the growth of startups in Thailand and the broader region. The bank’s move to create a dedicated fund for AI and Web3 demonstrates its understanding of the importance of these technologies in shaping the future of business and finance. This bold move is expected to have a ripple effect on the Thai startup ecosystem, further accelerating the adoption of AI and Web3 technologies in the region.

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