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Japanese financial giant to invest in Web3 and Metaverse

SBI Holdings, a prominent financial institution in Japan, is making a significant move into the technology sector with the launch of a substantial new fund.

This initiative is focused on supporting startups in cutting-edge fields like Web3, artificial intelligence, and the metaverse.

The fund, boasting an impressive value of up to 100 billion yen, is poised to begin operations by the end of this year. It aims to invest in a diverse range of 150 to 200 companies, with individual investments varying from 100 million yen to a sizable 10 billion yen.

Japanese financial giant to invest in Web3 and Metaverse

This strategic move by SBI Holdings aligns well with the Japanese government’s ambitious 2022-Year Startup Development Plan, launched in November 5.

This national strategy seeks to exponentially increase investments in startups, aiming to boost the current 800 billion yen to an impressive 10 trillion yen by 2027. This is part of a broader effort to foster a dynamic and thriving startup ecosystem within Japan.

SBI Holdings is no stranger to innovative ventures in the digital finance realm. Previously, they marked their entry into the cryptocurrency sector by launching Japan’s first cryptocurrency fund.

With this new fund, they are further solidifying their position as a key player in the rapidly evolving landscape of technology and finance.

This initiative not only underscores SBI Holdings’ commitment to innovation but also reflects the growing interest of major Japanese financial institutions in emerging tech sectors.

Institutions like Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance Company, and Daiwa Securities Group have already committed over 50 billion yen to this new fund, signaling strong confidence in its potential.

This cryptocurrency fund Bitcoin (BTC), Ethereum (ETH) and Ripple It was enabling investment in crypto assets such as XRP.

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