Japanese financial giant SBI Group, Swiss bank of digital asset management Sygnum, and Italy’s Azimut Group jointly raised a $75 million venture capital fund in Singapore Thursday, aiming to invest in capable start-up companies in the digital asset field.
This new fund company brought together the capital of these three companies with senior experience in the field of digital assets and registered as a variable capital company.
SBI Venture Capital will assume the management position of the fund and will lock the investment target to focus on the pre-A round and A round companies who aim at the development of blockchain/distributed ledger technology (DLT) infrastructure, decentralized finance (DeFi) solutions, and regulatory technology tools.
The digital asset economy is expected to flourish in various fields in the future. According to the official announcement, it is expected that by 2027, 10% of the global GDP will use DLT infrastructure.
From SBI Ven Capital CEO and Managing Director Lin Ryosuke Hayashi said:
“DLT and digital assets are at the inflection point of mainstream adoption, and they have the potential to reduce inefficiencies and unlock new capabilities across several sectors, such as financial services and supply chain management. Amidst this backdrop, we are excited to launch this latest venture capital focused fund offering with our partners, Sygnum and Azimut.”
Statistics show that the amount of venture capital flowing into the digital asset industry this year has increased from about 5% of the total last year to 6%.
In the first half of 2021 alone, global investment in blockchain/DLT and cryptocurrency companies has exceeded 17 billion U.S. dollars, a five-fold increase from 2019.
All kinds of data indicate that the digital asset industry has entered a rapid growth in the form of exponential. The fund created by the three companies will also participate in the trend of maintaining a wide range of diversification in global investment opportunities
As reported by Blockchain.News on September 3, the Japanese Financial Giant SBI Group stated that it will launch its first cryptocurrency fund in Japan before the end of November this year to provide Japanese investors with a more diverse portfolio.
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