Japanese financial giant SBI Group, Swiss bank for digital asset management Sygnum and Italian Azimut Group jointly raised a $ 75 million venture capital fund in Singapore on Thursday to invest in capable start-ups in the digital assets space invest.
This new fund company has merged the capital of these three companies with many years of experience in the field of digital assets and registered them as a company with variable capital.
SBI Venture Capital will take over the management position of the fund and set the investment target in order to focus on the above-One round and one round company on 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 areas in the future. According to the official announcement, It is expected that 10% of global GDP will use the DLT infrastructure by 2027.
From SBI Ven Capital CEO and Managing Director Lin Ryosuke Hayashi said:
“DLT and digital assets are at the tipping point of mainstream adoption and have the potential to reduce inefficiencies and unlock new capabilities in various sectors such as financial services and supply chain management. With this in mind, we are excited to bring this latest version of venture capital funded 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 around 5% of the total volume last year to 6%.
In the first half of 2021 alone, global investments in blockchain / DLT and cryptocurrency companies exceeded $ 17 billion, a five-fold increase compared to 2019.
All kinds of data indicate that the digital asset industry is growing rapidly in the form of exponentials. The fund created by the three companies will also participate in the trend to maintain broad diversification in global investment opportunities
As Blockchain.News reported on September 3, Japanese financial giant SBI Group announced that it will launch its first cryptocurrency fund in Japan before the end of November this year in order to offer Japanese investors a more diverse portfolio.
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