Kasikorn X and HashKey Web3 partnership

Kasikorn X (KX), the Web3-focused VC firm of Thailand’s Kasikornbank, has announced a strategic partnership with Hong Kong-headquartered asset manager HashKey Capital to provide support for startups in the digital asset and blockchain industries.

• Partnership Goals: The partnership, which involves an investment from KX to HashKey Capital, aims to support the development of the Web3 ecosystem in Southeast Asia and Hong Kong by introducing global projects to the region and helping enable blockchain tech for wider use.

• Individual Power: The two firms also highlighted their joint dry powder, with KX allocating $100M for fintech-focused Web3, AI, and deeptech projects and HashKey Capital raising $500M for its third fund.

• About KX: Individually, KX has made more than 14 investment commitments globally. Meanwhile, HashKey Capital has backed the likes of Animoca Brands, Hex Trust, and Polkadot.

This is not the first time KX and HashKey Capital have collaborated. The two firms previously teamed up for the Web3 Bangkok Blast expo, which they ran with Thailand-based digital asset firm Cryptomind.