Blockchain Fund Launched By SBI Investment

Announcements, Blockchain, Investing | January 18, 2018 By:

Japanese venture capital firm SBI Investment will be establishing a new fund to invest in venture companies in the field of artificial intelligence (AI) and blockchain. The new fund is a successor to the company’s FinTech Fund.

SBI Investment is the core company in the SBI Group’s Asset Management Business. It is one of Japan’s leading venture capital firms. It primarily invests in the field of information technology, bio-life science, healthcare, environment and energy and other sectors that have growth potential.

The new fund, called SBI AI & Blockchain Fund, will begin making investments reaching about JPY 20 billion ($179M USD) this month.The launch is a response to strong demand from the existing FinTech Fund investors. The company also plans to solicit additional investments from regional financial institutions and institutional investors to increase the fund size to JPY 50 billion ($449M USD).

“While new technologies such as AI and blockchain are attracting global attention in the financial sector, they are also expected to be used in various other sectors, such as the medical, real estate and public sectors,” the company said. “As a result, SBI Investment has decided to set up the Fund as a successor to the FinTech Fund.”

The goal is to make investments in promising venture companies conducting a broad range of AI and blockchain businesses. The new fund will support open innovation between investors and investee companies, increase the value of investee companies, and actively help investors implement and use new technologies. The objective is to help investee companies and investors enhance their services and eventually contribute to the growth and development of new industries.