Sc Ventures, the investment division of Standard Chartered bank, and Japanese finance company SBI Holdings decided to join forces for a large-scale investment. In the joint statement made by the two companies, it was announced that a budget of 100 million dollars would be allocated for topics related to Tokenization, Blockchain-based payments, Web3, Metaverse and Decentralized finance.
Common point United Arab Emirates
It was stated that both companies chose the United Arab Emirates as a common point and that the investments to be made will be of a global scale and will also include C series seed investments. Speaking about the investments to be made, Sc Ventures CEO Alex Manson stated the following in his statement:
The Joint Venture will leverage SC Ventures’ expertise in cryptocurrencies through our ventures such as Zodia Custody and Zodia Markets, and our investments in fintechs such as Ripple and Metaco.
Huge Investment from SBI Holdings
Japan’s giant company SBI Holdings will step in to create an additional fund in addition to the partnership. According to the post of Japanese news agency Nikkei, the company is preparing to create a fund of $ 664 million for Web3, Metaverse and artificial intelligence. It is also rumored that this fund will become active towards the end of 2023.
Other Japanese Banks
In addition to this large fund preparation, other major Japanese banks will also be invited to fund start-up support. According to the information obtained, there are very few venture capital funds in Japan with a size of 663 million dollars. The fund, which should be shared among 150-200 companies, is expected to reach 663 million dollars. Making a statement on the subject, SBI manager stated that they aim to create a competitive environment by supporting startups.
To better enable startups to compete globally, we need to have a financially strong provider.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.