Thailand’s Kasikornbank has officially begun operations in Indonesia under the KBank Indonesia brand, while Makers Fund, a venture capital firm focused on games and interactive entertainment, has closed its fourth fund at $250 million.
Thailand’s Kasikornbank begins Indonesia operations
Thailand’s Kasikornbank has officially begun operations in Indonesia under the KBank Indonesia brand, following the rebranding of Bank Maspion as the Thai bank looks to expand its presence in Southeast Asia’s largest economy.
PT Bank Kasikorn Indonesia Tbk is targeting a loan portfolio of more than 40 trillion rupiah by 2030. The bank plans to use Kasikornbank’s regional network to connect Indonesian customers with trade and investment opportunities in markets including Thailand, China, and Vietnam.
KBank Indonesia CEO Kasemsri Charoensiddhi said in the statement that the bank will focus on corporate, business, and retail customers, combining Bank Maspion’s domestic network with Kasikornbank’s regional capabilities.
The launch follows Kasikornbank’s gradual expansion into Bank Maspion over the past decade.
Kasikornbank first entered Bank Maspion in 2017 by acquiring a 9.99% stake. It increased its holding to 67.5% in 2022, becoming the Indonesian bank’s controlling shareholder, before raising its stake to 84.55% in 2023 through an investment of around 3.5 trillion rupiah.
As of July 31, 2026, Kasikornbank and its affiliates collectively held 89.48% of Bank Maspion. Kasikorn Vision Financial Company Pte. Ltd. was the largest shareholder with an 86.03% stake, followed by Kasikornbank Public Company Limited with 2.45% and PT Kasikorn Vision Financial Indonesia with 1%. The remaining 10.52% was held by public shareholders.
The rebranding was the culmination of a plan that had been discussed for several years. Bank Maspion management said in 2024 that Kasikornbank was considering changing the bank’s name to KBank Indonesia, although there was no timeline at the time.
The Thai bank’s investment in Bank Maspion was aimed in part at bringing its expertise in SME financing and digital banking to Indonesia. Bank Maspion launched its MEB mobile banking platform in 2024 as part of its cooperation with KBank.
Makers Fund closes $250m Fund IV
Makers Fund, a venture capital firm focused on games and interactive entertainment, has closed its fourth fund at $250 million, bringing its assets under management to $1.5 billion.
Fund IV will back companies across interactive entertainment and consumer, with investments spanning games, consumer applications, entertainment and creator platforms. Makers invests globally and across stages.
The latest fund is smaller than Makers’ previous vehicle. The firm raised $500 million for Fund III in 2022, after closing its first $180 million fund, and a $260 million second fund.
Makers said it has backed more than 100 companies since its founding in 2016. The firm currently has teams in London, Reykjavik, Tokyo, Singapore, New York, and Los Angeles. It said Fund IV will continue to target founders globally, particularly in areas where entertainment is central to the product or where gaming-related consumer needs create an opportunity. The new fund comes amid a more selective funding environment for gaming startups.
