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SeaX Ventures on $60 Million Journey to Aid Startups in Southeast Asia
Southeast Asia Exponential Ventures, also known as SeaX Ventures, wants to help accelerate the growth of emerging global startups across Southeast Asia. And now it has $60 million to help companies across blockchain and web3, foodtech, biotech and life science, artificial intelligence, robotics, and IoT and hardware.
Originally, the venture capital firm aimed to raise $50 million for its second fund, but hit $60 million after funding was oversubscribed. According to SeaX, the company will invest between $500,000 to $5 million in pre-seed, seed, and Series A financings.
With a regional population of 650 million people and a combined GDP of $3 trillion, the SEA region offers a ripe location for international startups to develop.
“We can help innovative startups from across the world grow exponentially in this large and dynamic area through our relationship with over 400 corporates,” said Dr. Supachai “Kid” Parchariyanon, the Founder and Managing Partner of SeaX Ventures.
RISE with SeaX
SeaX is not Dr. Kid’s only venture. He also founded RISE, a corporate innovation consulting firm that helps larger SEA companies in the digital realm. SeaX helps its portfolio companies expand by connecting them with investors and RISE clients. This also helps larger companies discover innovative initiatives, launch new businesses, or reduce operating costs.
SeaX’s Limited Partners include PTT OR International Holdings (Singapore) Pte. Ltd., Central Pattana PCL, Singha Ventures Corporation, Ramkhamhaeng Hospital PCL, MC Group PCL, The Vacharaphol Co., Ltd. (Thairath News), T.K.S. Technologies PCL, Modernform PCL, and BCH Ventures, among others.
Despite only raising two funds since its founding in the US in 2018, SeaX has already invested in the seeding rounds of three unicorns. The company has invested in startups including AiFi, Apollo Neuroscience, Bot MD, Solana, and Qvin. Its most recent investment was in the $65 million Series B round of AiFi.©www.geneonline.com All rights reserved. Collaborate with us: email@example.com