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SBI, Sygnum, and Azimut Introduce $75 Million VC Fund | Finance Magnates

source-logo  financemagnates.com 01 October 2021 07:05, UTC

SBI Group, Sygnum, and Azimut Group announced yesterday that the companies have established a $75 million venture capital fund to support emerging crypto startups.

In an official announcement shared by Sygnum, the company mentioned that the new fund has been incorporated as a Variable Capital Company. The newly launched fund will focus on the latest innovations in the global crypto ecosystem.

The $75 million venture capital fund will facilitate startups in their Pre-Series A and Series A funding. The fund will focus on companies developing blockchain/distributed ledger technology (DLT) infrastructure, decentralized finance (Defi) solutions, and regulatory technology tools.

“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,” Ryosuke Hayashi, CEO and Managing Director of SBI Ven Capital, commented.

SBI Ven Capital is one of the leading private equity firms in the world. Through the recent initiative, the company aims to encourage founders of emerging companies working in the international digital asset ecosystem.

Global Crypto Ecosystem

In the latest announcement, SBI, Sygnum, and Azimut highlighted a significant jump in investments in global crypto and blockchain companies. During the first half of 2021, more than $17 billion worth of investments were made into blockchain/DLT and cryptocurrency companies around the world.

“We are witnessing several innovative solutions emerging from digital asset companies, especially in decentralized applications, regulatory technology, digital exchanges, and tokenization. These solutions have the potential to facilitate trusted and secure transmission of information and value, empower businesses to access untapped pools of capital at lower cost and democratize financial inclusion. Through this fund, we are excited to bring like-minded investors and entrepreneurs together to collectively bring these solutions to market,” Gerald Goh, Co-Founder and CEO of Sygnum Singapore, said.