SBI Holdings, Sygnum, Azimut Group Introduce $75M VC Fund for Supporting Crypto Startup Investments

September 5, 2021

Crowdfund Insider

Japanese financial giant SBI Holdings, Switzerland’s crypto-asset bank Sygnum, and European asset management firm Azimut Group have introduced a VC fund of up to $75M that will be based in Singapore. It will focus on making investments in startups operating in the digital assets space.

This new fund, established as a Variable Capital Company, aims to bring together the collective crypto-assets experience and guidance of the founding partners to support the growth of high-potential firms operating in this space.

With SBI Ven Capital serving as the main fund manager, the fund’s investment strategy will focus on Pre-Series A and Series A firms creating blockchain or distributed ledger technology (DLT)-based infrastructure, decentralized finance (DeFi) services, as well as regulatory tech or Regtech tools and applications.

SBI Digital Asset Holdings had confirmed earlier that it would be teaming up with Switzerland’s SIX Digital Exchange in order to introduce a crypto-asset exchange based in Singapore (expected to launch by next year).

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, has so far issued approvals to Australia’s crypto exchange Independent Reserve, DBS’ brokerage unit DBS Vickers and QR code payment service platform FOMO Pay to provide digital payment token services under the Southeast Asian’s country’s Payment Services Act.

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