SeaX Ventures (Southeast Asia Exponential Ventures), a Thai venture capital firm, has completed the final closure of its second fund, which was oversubscribed at US $60 million.
The corporation stated in a news release that the initial goal size was $50 million.
PTT OR International Holdings (Singapore), Central Pattana PCL, Singha Ventures Corporation, Ramkhamhaeng Hospital, MC Group, The Vacharaphol (Thairath News), Modernform, and BCH Ventures are among SeaX Ventures’ Limited Partners.
Fund II is looking for firms that are working in the areas of blockchain, web3, foodtech, biotech, life sciences, artificial intelligence, robotics, IoT, and hardware.
Pre-seed, seed, and Series A-stage firms will receive investments ranging from US$500,000 to US$5 million from SeaX Ventures. The purpose is to help international startups expand faster in Southeast Asia.
SeaX Ventures, founded by Dr. Supachai “Kid” Parchariyanon (founder of RISE, a corporate innovation consulting organisation), invests in early-stage firms with game-changing “exponential” technologies throughout the world. To explore commercial prospects with its portfolio firms, RISE utilises its relationships with over 400 listed corporations, MNCs, and family businesses in Southeast Asia.
“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.”
RISE’s investors and corporate partners have extensive and productive ties with SeaX Ventures. According to sources, it will provide value to the portfolio firms of the corporate innovation consultant by assisting them in growing their operations. This aim will be achieved through linking these companies with their investors and RISE clients, therefore supporting bigger organisations in their pursuits of creative initiatives, new company launches, and cost reductions.
