SeaX Ventures (Southeast Asia Exponential Ventures) announced recently the closure of its second fund to help accelerate the growth of global startups throughout Southeast Asia. According to the firm’s sources, this fund is dedicated to investing in firms operating on truly transformational prospects in sectors comprising blockchain & web3, foodtech, biotech & life science, artificial intelligence, robotics, and IoT & hardware.
SeaX Ventures also reported that although as per the initial estimates the original fund target size was $50 million, the raise was oversubscribed, and the overall prediction was surged up to $60 million. SeaX Ventures will make investments of between $500,000 – $5 million in pre-seed, seed, and Series A financings.
Dr. Supachai “Kid” Parchariyanon, the Founder and Managing Partner of SeaX Ventures stated: “Southeast Asia is a region of 650 million people with a combined GDP of $3 trillion. We can help innovative startups from across the world grow exponentially in this large and dynamic area through our relationship with over 400 corporates.”
Dr. Supachai “Kid” Parchariyanon also stated: “Despite SeaX Ventures raising only its second fund, it already has invested in the seed rounds of three unicorns. “We want to continue the momentum especially because there is so much potential for innovative companies here in Southeast Asia.”
Ms. Jiraphon Kawswat, President and Chief Executive of OR, stated: “At OR, we value innovation and are always searching for new ways to serve our customers. Investing in SeaX Ventures broadens our horizons and connects us with a few of the most innovative companies in the world.”
According to SeaX Ventures’ added statement, the notable individual investors include Jareeporn Jarukornsakul (Co-founder & 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 in identifying promising opportunities and scaling businesses with pioneering technology. I am excited to partner with him and SeaX.”
SeaX Ventures industry sources also added that a crucial component is the deep and cooperative relationships that the firm maintains with its investors and corporate partners at RISE. According to the firms reports, also founded by Dr. Kid, RISE is a corporate innovation consulting firm that works with the largest companies in Southeast Asia by empowering them to achieve transformative change in the digital realm.
SeaX Ventures industrial sources stated that they will tangibly add value to its portfolio companies by helping to grow their businesses. This goal will be accomplished by connecting these startups to its investors and RISE clients, thus also assisting the larger entities in their quests to pursue innovative initiatives, launch new businesses, or reduce operating costs.
SeaX Ventures further stated that the corporations that were an integral part of the funding round and those who invested as Limited Partners comprised 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.
