Thai VC firm SeaX Ventures (Southeast Asia Exponential Ventures) has made the final close of its second fund oversubscribed at US$60 million.
The original target size was US$50 million, the company said in a press note.
SeaX Ventures’s Limited Partners include PTT OR International Holdings (Singapore), Central Pattana PCL, Singha Ventures Corporation, Ramkhamhaeng Hospital, MC Group, The Vacharaphol (Thairath News), Modernform, and BCH Ventures.
Fund II seeks to invest in companies in blockchain, web3, foodtech, biotech, life sciences, artificial intelligence, robotics, IoT, and hardware.
SeaX Ventures will invest in the range of US$500,000 to US$5 million in pre-seed, seed, and Series A-stage startups. The goal is to accelerate the growth of global startups throughout Southeast Asia.
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Founded by Dr Supachai “Kid” Parchariyanon (founder of corporate innovation consulting firm RISE), SeaX Ventures invests globally in early-stage companies with game-changing “exponential” technologies. The VC firm leverages RISE’s relationship with over 400 listed companies, MNCs, and family businesses in Southeast Asia to explore business opportunities with its portfolio companies.
“Southeast Asia is a region of 650 million people with a combined GDP of US$3 trillion,” said SeaX Managing Partner Parchariyanon. “We can help innovative startups worldwide grow exponentially in this large and dynamic area through our relationship with over 400 corporates.”
SeaX Ventures maintains deep and cooperative relationships with RISE’s investors and corporate partners. According to reports, it will add value to the corporate innovation consultancy’s portfolio companies by helping to grow their businesses. This goal will be accomplished by connecting these startups to their investors and RISE clients, thus also assisting the larger entities in their quests to pursue innovative initiatives, launch new businesses, or reduce operating costs.
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