US- and Bangkok-based venture capital firm SeaX Ventures, which earlier used almost all its money to back startups in the US, has earmarked a third of its $60-million second fund to invest in Southeast Asia, its founder told DealStreetAsia.
The firm closed its second fund at $60 million in April this year to help accelerate the growth of global startups throughout Southeast Asia. The fund was oversubscribed compared with its original target size of $50 million, SeaX Ventures had said in a statement.