SeaX Ventures Launches $60M Fund II to Help International Startups Expand in Southeast Asia
Although the initial target size of the fund was $50 millionthe increase was oversubscribed and the total was increased to $60 million. SeaX Ventures will invest between $500,000 – $5 million in pre-seed, seed and Series A financings.
“South East Asia is a region of 650 million people with a combined GDP of $3 trillion“, said Dr. Supachai “Kid” Parchariyanon, Founder and Managing Partner of SeaX Ventures. companies.”
A key component is the deep and cooperative relationships that SeaX has with its investors and business partners at RISE. Also founded by Dr. Kid, RISE is a business innovation consultancy that works with the world’s largest companies. South East Asia empowering them to achieve transformative change in the digital realm. SeaX Ventures will bring tangible added value to its portfolio companies by helping them grow their businesses. This will be achieved by connecting these startups to its RISE investors and customers, thus also helping larger entities in their quests to pursue innovative initiatives, launch new ventures or reduce operating costs.
Companies that have invested as limited partners include PTT OR International Holdings (Singapore) Sdt. Ltd., Central Pattana PCL, Singha Ventures Corporation, Ramkhamhaeng Hospital PCL, MC Group PCL, The Vacharaphol Co., Ltd. (Thairath News), TKS Technologies PCL, Modernform PCL and BCH Ventures, among others.
Ms. Jiraphon Kawswat, President and CEO of OR, says, “At OR, we value innovation and are always looking for new ways to serve our clients. Investing in SeaX Ventures broadens our horizons and empowers us. contact with some of the most innovative companies in the world.”
Notable individual investors include Jareeporn Jarukornsakul (co-founder and chairman of WHA), Banyong Pongnanich (chairman, Kiatnakin Phatra Financial Group), Thiraphong Chansiri (CEO, Thai Union Group PCL), Chai Srivikorn, (Board Member, Gaysorn Group), Anujtha Jaovisidha (Director, Toyota Tsusho Thai Holding), Yothin Dumnernchanvanit (Executive Director, Double A 1991 PCL), Verawat Ongvasith ( CEO, Veranda Resort Group PCL), Nattaphol Vimolchalao (CEO, Siamrajathanee PCL), among others.
Ms Jareeporn said: “Dr Kid has a proven track record of identifying promising opportunities and scaling businesses with pioneering technology. I am delighted to partner with him and SeaX.
Although SeaX Ventures has only raised its second fund, it has already invested in three unicorn rounds. “We want to keep the momentum going,” Dr. Kid said, “particularly because there is so much potential for innovative companies here at South East Asia.”
About SeaX Ventures
SeaX Ventures is a venture capital fund that invests globally in early-stage companies with breakthrough “exponential” technologies. SeaX offers unique access to a highly selective group of innovative companies from around the world. SeaX leverages RISE’s relationship with over 400 listed, multinational and large family-owned companies in South East Asia to explore business opportunities with our portfolio companies.
RISE is a business innovation consultancy based in South East Asia. With a mission to increase 1% of this region’s GDP, RISE works closely with Fortune 500, large family-owned businesses and government agencies in the region to help set up and grow industry innovation initiatives. outside and inside the organization. RISE is known for its Global Accelerator Program, Intrapreneur University, Enterprise and Business Innovation Summit – from Asia The largest experiential conference. We have created the global business innovation ecosystem with a network of over 400 companies, 2,000 startups and over 20,000 innovative companies and partners in 40 countries around the world, contributing to a combined impact of over of 2 billion US dollars
SOURCE SeaX Ventures (Exponential Ventures in Southeast Asia)