SBI Holdings, a leading financial entity in Japan, is making a significant stride into the tech sector with the announcement of a new, sizable fund.
This venture is aimed at nurturing startups in avant-garde areas such as Web3, artificial intelligence, and the metaverse.
With an allocation of up to 100 billion yen, the fund is set to commence operations by the year’s end, targeting investments in approximately 150 to 200 companies. The investment amount for each company will range from 100 million yen to an impressive 10 billion yen.
This strategic initiative by SBI Holdings is in line with the Japanese government’s ambitious Startup Development Plan for 2022, unveiled on November 5. The plan’s objective is to significantly scale investments in startups from the current 800 billion yen to 10 trillion yen by 2027, aiming to cultivate a vibrant and successful startup ecosystem across Japan.
SBI Holdings has previously ventured into the digital finance space, marking its presence with the launch of Japan’s first cryptocurrency fund. This new fund further cements their role as a pivotal figure in the technological and financial revolution.
This move not only highlights SBI Holdings’ dedication to fostering innovation but also signals the increasing interest of major Japanese financial institutions in the burgeoning tech sectors.
Prominent organizations such as Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance Company, and Daiwa Securities Group have pledged over 50 billion yen to this new fund, demonstrating a robust confidence in its future success.
This cryptocurrency fund Bitcoin (BTC), Ethereum (ETH) and Ripple It was enabling investment in crypto assets such as XRP.
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