Thailand’s Kasikorn Bank has launched a $30 million fintech fund to invest in startups across South East Asia as well as Europe and China.
The bank also intends to reserve a portion for top-ups to the third party venture capital funds. To this end, it has already backed Dymon Asia, a fintech fund headquartered in Singapore which is aiming for a $50 million final close.
Becaon’s first startup investment is an undisclosed punt on Bangkok-based SME cloud accounting firm FlowAccount.
Apirat Vanchaam, senior visionary architect at the bank’s business technology subsidiary KBTG, says: “At first, people might think that startups will disrupt corporations, but now I think people are starting to see that that will not necessarily happen, people are starting to see that startups can partner with corporations.”
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