SeaX Ventures secures $60Mn to invest in Blockchain and Web3 tech

SeaX Ventures secures $60Mn to invest in Blockchain and Web3 tech

SeaX Ventures, a VC fund investing globally in early-stage companies based in Thailand, has recently secured funds worth $60 Million to support the growth of international startups. The Thai government has put a proposal on the table at the beginning of this year, signifying the enactment of 15% taxes on capital gains.

As per recent reports, SeaX Ventures collected $60 Million for assisting global startups in enlarging their activities in Southeast Asia. The organization first acclaimed the target of $50 Million but then got pushed to a new amount.

According to the firm, the funds will be used for blockchain technology and Web3 and fast-tracking their growth in the future.

The company will be distributing an element of money to some areas like biotech, robotics, food tech and life science, Web3, AI and blockchain technology, among others. SeaX Ventures will be investing around $500,000 to $5 Million in financing seed, pre-seed, and Series A.

BCH Ventures, PTT OR International Holdings (Singapore), MC Group PCL, Singha Ventures, Central Pattana PCL, and Ramkhamhaeng Hospital PCL, among others, are some of the well-known organizations taking part as investors.

Jiraphon Kawswat, President and CEO, PTT OR International Holdings, said that the firm is always willing to explore new ways of serving its clients. This move of investing in SeaX Ventures enlarges their horizons and links them with some of the most innovative organizations worldwide.

SeaX Ventures’ Managing Partner and Founder, while giving the insights, said that Southeast Asia is an area with a 650 million population with a unified GDP of $3 Trillion. The firms can now aid innovative startups globally by offering a boost in their growth in this dynamic and vast region via their connections with more than 400 corporations.

Source Credit - https://www.thecoinrepublic.com/2022/04/05/seax-ventures-jacks-up-60-million-for-web3-and-blockchain/