SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi), and digital assets.
This recent announcement from SCB 10X is meant to support its Moonshot Mission, which aims to push forward a new growth engine for the development of digital technologies.
SCB 10X stated that it will be closely watching the high-potential tech firms and other startups worldwide in order to develop new capabilities. These initiatives and investments are mainly focused on integrating emerging technologies (Emtech) in order to support SCB’s growth and expansion efforts.
Mukaya (Tai) Panich, Chief Venture and Investment Officer of SCB 10X, stated:
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SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi), and digital assets.
