Of the total deal size, TPG's stake is worth $1.3 billion approximately.
Thailand has pledged to set up the Young Startup Fund and support tech innovation in the country by issuing three new regulations.
The investment is reportedly expected to close within the next two months.
Education startup YOLA had earlier bagged a $4.9 million funding from Mekong Capital in 2016.
KKR's last Asia PE vehicle was a $9.3-billion fund closed in 2017.
Olympus purchased the stake from Polaris Capital, an affiliate of Singapore-based PE Northstar Group.
VNLIFE chairman confirmed the development first reported by DealStreetAsia although he declined to comment on the quantum of funding secured.
Q & A
The lender expects to do more direct investments in startups through its CVC unit.
Gapo will receive a capital injection of $22 million from G Capital for its first phase of development.
Trusting Social snapped up $25 million in seed and Series A rounds from Sequoia Capital, 500 Startups and BeeNext.
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