(Mar 5): Malaysian budget carrier AirAsia Group said on Monday it was launching a venture capital fund in the United States to invest in startups seeking to enter or expand in Southeast Asia.

The fund, called RedBeat Capital, will focus on post-seed-stage startups in travel and lifestyle, financial technology, artificial intelligence and cybersecurity.

AirAsia is partnering with San Francisco-based 500 Startups, which invests in young fast-growing companies.

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