A year ago, Japan’s SBI announced plans for a joint digital asset venture fund with Swiss digital asset bank Sygnum. Today the Singapore fund was unveiled with up to $75 million in investment and with Italian fund manager Azimut as a partner.
Azimut, which has EUR 75 billion ($88 bn) in assets under management, has an existing relationship with Sygnum. Earlier this year, it tokenized €5 million ($6m) in SME loans as a digital security on Sygnum’s platform. SBI invested more than $10 million in Sygnum earlier this year.
SBI Ven Capital will operate the new fund and plans to invest in early-stage companies that focus on blockchain infrastructure, decentralized finance (DeFi), and regulatory technology, mainly in Southeast Asia and Europe. A security token offering (STO) will also be used to raise capital.
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