SBI Group, Sygnum Bank and Azimut Group have set up a $75 million venture capital fund to invest in cryptocurrency start-ups.
The fund, called Variable Capital Company, was announced on Thursday. to explain It will invest in start-ups working in areas related to blockchain/DLT infrastructure, decentralized finance and regulatory technology.
The fund, which will be managed by SBI Ven Capital, will give priority to pre-A series and A series investments.
Founded by Japan-based SBI Group, Switzerland-based Sygnum Bank and Italy-based Azimut, the fund will be headquartered in Singapore.
Ryosuke Hayashi, CEO of SBI Ven Capital, said about the newly formed fund, “DLT and digital assets are at the crossroads of mainstream adoption and have the potential to open up new possibilities in several different industries such as financial services, supply chain management.” said.
Blockchain/DLT and cryptocurrency The amount of investment made in companies operating in the first half of 2021, five times the number in 2019. 17 billion dollars over output.
SBI Digital Asset Holdings, a subsidiary of SBI Group, will join Sygnum Bank, ‘the world’s first digital asset bank’, in February 2021 at least 10 million dollars had invested.
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