Thai lender KBank launches $29m Beacon VC fund to invest in fintech

Image from KBank.

Kasikorn Bank (KBank) on Wednesday launched Beacon Venture Capital, a new investment arm with an initial capital fund of one billion baht ($29 million), focusing on financial innovations that align with KBank strategies.

It aims to make direct investments in three to five startups and investments in two or three venture capital funds this year, said the fund’s managing director Thanapong Na Ranong, who previously spearheaded InVent, a corporate venture capital arm of Thailand’s listed telecommunication firm INTOUCH Holdings.

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