SeaX Ventures: Deep tech investment contains high risks, but partnership is key to success

SeaX Ventures, a Thailand-based venture fund with US$100 million in assets, is making strides in fostering collaboration between deep tech startups and larger corporations or government bodies.

Founded by Dr. Kid Parchariyanon, the firm focuses on investing in early-stage companies with transformative technologies, with a dual mission: bringing Southeast Asian (SEA) investment and customers to US entrepreneurs while introducing Silicon Valley’s innovations to the SEA market.

One of SeaX Ventures’s latest investments is RyboDyn, a US-based biotech startup developing immunotherapies targeting the dark genome. The firm co-led a US$4 million pre-seed funding round for RyboDyn and is actively facilitating connections that can accelerate its growth in the region.

Dr. Parchariyanon highlights the importance of partnerships in scaling deep tech solutions effectively. “Partnerships are at the heart of what we do. With our network of over 500 corporations in SEA, we facilitate connections that go beyond introductions. These are hands-on partnerships designed to help startups scale while solving real business challenges.”

This collaborative approach extends across multiple sectors. For instance, SeaX Ventures works with climate tech startups to link them with corporations that can deploy their innovations at scale. Additionally, the firm helps startups navigate regulatory landscapes by working closely with government agencies to create supportive environments for emerging technologies.

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By leveraging its extensive network and industry expertise, SeaX Ventures continues to act as a conduit between deep tech startups and established players, facilitating growth and innovation across borders. As the demand for cutting-edge solutions in fields like biotech and climate tech increases, the firm remains committed to fostering high-impact partnerships that drive meaningful progress.

In this interview with e27, Dr Parchariyanon discusses significant trends in SEA’s deep tech sector and what the firm aims to do about them.

This is an edited excerpt of the conversation.

What are the most significant trends in deep tech that you believe will shape SEA’s future in the next five to 10 years?

SEA is at a unique crossroads where rapid economic growth meets an increasing need for transformative solutions. Over the next decade, we will see deep tech advancements in climate tech, biotech, AI, and blockchain having the most profound impact.

Climate tech, in particular, is becoming increasingly urgent. As the region faces challenges like rising sea levels and extreme weather, solutions that address energy efficiency, sustainable agriculture, and decarbonisation will play a critical role.

At the same time, advancements in AI and blockchain will reshape sectors like fintech and supply chains, while biotech has the potential to revolutionise healthcare access and outcomes.

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Are there specific industries or verticals within deep tech that you see gaining more traction in the region? Why?

Climate tech is at the forefront of deep tech innovation in SEA. The region is responsible for around seven per cent of global carbon emissions and many countries have pledged to be net-zero by 2065, which is far too late.

There is an urgent need to find solutions that address energy security and sustainability, and areas like renewable energy, carbon capture, and waste management are already gaining momentum. At SeaX Ventures, we believe strongly about this, which is why we have invested in companies like Type One Energy and Hoxton Farms that are prioritising the planet’s future.

Governments and corporations are starting to prioritise green initiatives, but we need to act faster to mitigate the environmental impact and shape a sustainable future for the region. Addressing climate risks while also creating scalable solutions for long-term economic and environmental resilience is important.

What are some of the primary challenges deep tech startups face when scaling in SEA, and how can investors or ecosystem players address these issues?

A common challenge for early-stage deep tech companies is finding specialised talent and resources to scale since niche expertise and infrastructure are often required. Investors and other players can try to address this by fostering cross-border partnerships, providing startups with the mentorship they need, and helping them tap into global networks for talent and technology.

Beyond sourcing specialised talent and resources, gaining access to customers—especially larger corporates—is also a significant challenge. It takes time to find the right decision-makers within these organisations and build the trust needed to establish lasting relationships.

That is why what we do at SeaX Ventures makes a real difference. Through our exclusive partnership with RISE, an innovation consulting firm that serves over 500 organisations, including private, public, and state-owned enterprises, we are able to bridge critical gaps. By leveraging our strong regional connections, we help startups access the right support and networks they need to thrive.

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For example, we invested in Band Protocol, and through our network, we helped them connect with key technology partners and industry stakeholders that helped accelerate their integration into broader markets. By facilitating these connections, we ensure startups gain the support they need to scale effectively.

What unique strengths or opportunities does SEA offer for deep tech innovation compared to other regions?

SEA has a massive, fast-growing market of over 680 million people who are eager to adopt new solutions, which creates great opportunities for startups to test and scale their innovations. Additionally, the region’s challenges, whether it is climate change, urbanisation, or healthcare access, are driving demand for transformative technologies.

Another strength is the entrepreneurial spirit here. SEA is full of ambitious founders who are passionate about solving problems and making a difference. Pair that with increasing government support for innovation and a growing pool of private capital, and you have a recipe for impactful deep tech breakthroughs.

How does SeaX Ventures evaluate the potential of early-stage deep tech startups, especially considering the higher risks and longer timelines often associated with these technologies?

We take a very intentional approach when evaluating which early-stage companies we will invest in. For us, it is about more than just the technology – we focus on the core problem the startup is solving and the team behind it. At SeaX Ventures, we look for world-class founders who are not only technically brilliant but also driven by a mission to disrupt entire industries and solve important problems.

Given the higher risks and longer timelines, we also focus on creating strong partnerships to support these startups.

Through our network of SEA corporations, we help these early-stage companies secure early market traction and have access to the resources they need to scale faster. For example, we invested in Qvin and helped them partner with BDMS group, one of the largest healthcare networks in Asia. This bridge-building approach helps mitigate some of the risks while creating long-term value.

How do you see venture capital’s role in driving the adoption and development of deep tech solutions, particularly in addressing critical regional challenges such as climate change, healthcare, and urbanisation?

Venture capital plays a crucial role in bridging the gap between innovation and impact. Deep tech solutions often require significant upfront investment, and venture capital firms provide the capital and strategic support to help founders navigate this journey.

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At SeaX Ventures, we are especially focused on addressing challenges like climate change and much-needed healthcare breakthroughs. For example, we invest in deep tech climate startups that can help reduce carbon emissions – one of SeaX’s main goals is to reduce global carbon emissions by one per cent – or improve energy efficiency.

We then connect our portfolio companies with corporations that can adopt and scale their solutions. By fostering collaboration between startups, corporations, and even governments, we aim to drive meaningful change in the region and beyond.

What is your major plan for 2025?

In 2025, we are focused on doubling down on climate tech and other transformative areas like quantum, material science and AI. As we move through the year, we will focus heavily on investing in companies striving for carbon neutrality while also working toward our ambitious goals of reducing global carbon emissions by one per cent and driving one per cent of GDP growth for SEA through innovation.

We have already started the year off strong with our recent investment in the US-based biotech company RyboDyn, which I mentioned earlier. We are proud to back them as they expand their reach globally. With our connections in the pharmaceutical and healthcare industries, especially in SEA, we look forward to helping them explore new opportunities and make a real difference in healthcare worldwide.

We are always looking to expand our network of corporate partners and deepen our support for startups in our portfolio. At SeaX, our goal is simple: We bring SEA investment and customers to world-class entrepreneurs and, in return, bring breakthrough technologies to SEA to help facilitate growth in the region.

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Image Credit: SeaX Ventures

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