The California-based venture capital firm has launched its second funding to help startup firms, including blockchain and Web3 companies, establish in Southeast Asia.
Based on the report by SeaX Ventures, the fund generated an oversubscribed amount of $60 million, with support from several firms in Southeast Asia including PTT OR International Holdings, BCH Ventures, Modernform PCL, Singha Ventures Corporation , MC Group PCL, Singha Ventures Corporation, Central Pattana PCL, Ramkhamhaeng Hospital PCL, the Vacharaphol, T.K.S. Technologies PCL, etc.
With the investment, SeaX Ventures will be giving from $500K to $5M to startups in pre-seeding, seeding, and Series A fundings, and offer the services of its corporate consulting firm RISE that helps small businesses excel in the "digital realm."
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Founder and Managing Partner at SeaX Ventures Dr. Supachai "Kid" Parchariyanon spoke on the recent startup fund, stating:
"Southeast Asia is a region of 650 million people with a combined GDP of $3 trillion. We can help innovative startups from across the world grow exponentially in this large and dynamic area through our relationship with over 400 corporates."
SeaX Ventures already had investments in three unicorn firms, with Parchariyanon hoping to "continue the momentum" in Southeast Asia as the region holds immense potential for technological innovation.
