Japan’s SBI unveiled its latest “Digital Space” fund, which will invest up to Yen 100 billion ($660m). Web3 and the metaverse are the first technologies on the list. However, it also covers AI, fintech, healthcare, digital transformation and climate tech.
The fund is managed by SBI Investment. Previous mega funds include the 2018 SBI AI&Blockchain ($400m) Fund and the 4+5 Fund ($660m).
Apart from SBI, follow on investors from the 4+5 fund include Mitsui & Co, Sumitomo Bank, Dai-ichi Life Insurance, Mizuho Bank and Fukuoka Bank. New investors include Nippon Life Insurance, beauty company Mandom and Sanyo Foods.
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