The Thai VC Fund Ventures of SeaX Raised $60 million to invest in Blockchain, Web3, and other projects
SeaX Ventures, a venture capital firm based in Thailand, raised $60 million from investors to help start-ups from all over the world grow in Southeast Asia. The company said that it would invest the money in a variety of areas, including blockchain and Web3.
Engaging with the Blockchain through the Most Recent Fund
A recent press release said that SeaX Ventures had raised $60 million to help international businesses grow in Southeast Asia. The fund’s original goal was $50 million. However, it became more than doubled to the new amount.
The company said that some of the money will go to a lot of different things, like blockchain technology, and Web3.It will also invest in AI, biotech, life science, robotics, food tech, and more. Before, during, and after the seed, seed, and Series A rounds will be funded by SeaX Ventures with investments of between $500,000 and $5 million.
We see a lot of well-known businesses who were investors, like PTT OR International Holdings in Singapore. It also includes BCH Ventures in Bangkok, and more.
One of the people in charge of PTT OR International Holdings said that his company is always looking for new ways to serve customers. As he said, “Investing in SeaX Ventures opens our eyes to new things and connects us with some of the most cutting-edge companies in the world,”
It was also SeaX Ventures’ Founder and Managing Partner, Dr. Supachai Parchariyanon, who talked about the subject.
Southeast Asia is home to more than 600 million people and has a GDP of more than $3 trillion
As a whole, Southeast Asia is home to more than 600 million people and has a GDP of more than $3 trillion. We can help start-ups from all over the world grow quickly in this huge and dynamic area because we have a relationship with more than 400 big businesses.
At the beginning of 2022, the Thai government said that they wanted to put a 15% capital gains tax on cryptocurrency profits.
Tipsuda Thavaramara, a former Deputy Secretary-General of Thailand’s SEC, didn’t like that idea for a long time. “Unfair and unpractical,” she says, and the law will not help trade. Shortly after she said this, the government decided not to tax transactions of digital assets.
One of the recent pro-crypto moves coming from “The Land of Smiles” was the partnership between Binance and the Thai company Gulf Energy Development Public Company Ltd. Following the collaboration, the latter said that they would set up a separate company and invest directly in digital currencies.
However, the country did not allow the use of cryptocurrencies for payments, citing unspecified problems.
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