K-Bank Venture Capital Fund established

Thailand’s Kasikorn Bank has setup a tech fund of billion Thai Baht. K-Bank has named the  new fund Beacon Venture Capital (BVC).

Thanapong Na Ranong, formerly with working with InVent, a Venture Capital firm established by mobile operator AIS, will lead BVP and deploy funds both domestically and internationally.

The capital was raised 100 percent from the bank and will go towards direct investments in startups and fund of funds investments into fintech. This strategy follows very closely SCB’s Digital ventures.

Going forward, it is targeting three to five deals per year ranging from seed to Series A stage with a target across fintech. The firm aims to lead or co-lead investments with a check size of $500,000 to $3 million.