Roehl Niño Bautista · · 1 min readSBI to launch $75m digital fund with NTU, Kyobo
Japan-based SBI Holdings is teaming up with NTUitive and Kyobo Securities to launch a US$75 million digital innovation-focused fund.
The Hive at Nanyang Technological University / Photo credit: ©thebigland/123RF.COM
NTUitive is Nanyang Technological University’s innovation and enterprise company, while Kyobo Securities is the securities brokerage arm of Kyobo Life Insurance Group.
The joint fund will back digital technology and digital platform companies in their pre-series A and series A stages. It will also help firms monetize their digitalized transaction data. Fund recipients should ideally be working on digital transformation in Southeast Asia and South Asia.
Globally, the digital transformation market is expected to hit almost US$3.3 trillion in value by 2025. The fund representatives say that Southeast Asia’s economic potential could reach US$220 to US$625 billion by 2030.
SBI Ven Capital, SBI Holding’s venture capital arm, will manage the fund, which is anticipating its final close by Q3 2022.
“We aim to address gaps such as a lack of access to digital services and market inefficiencies, to ensure the growth and prosperity of the digital economy in Southeast Asia and South Asia,” said Ryosuke Hayashi, managing director and CEO at SBI Ven Capital.
See also: Capital SEA: Southeast Asia’s funding landscape (updated 18 May 2022)
Editing by Miguel Cordon and Jaclyn Tiu
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