SBI, Sygnum and Azimut launch venture capital fund focused on digital assets sector
SBI Group, Sygnum and Azimut Group today announced the launch of a Singapore-based venture capital fund of up to $ 75 million that will invest in digital asset startups.
This new fund, incorporated as a variable capital company, brings together the collective experience of digital assets and the leadership of the three founding partners to accelerate the growth of promising companies in this sector, while offering qualified investors unparalleled access to the growing digital asset. economy.
With SBI Ven Capital as the primary fund manager, the fund’s investment strategy will focus primarily on pre-Series A and Series A companies developing blockchain / distributed ledger (DLT) technology infrastructure, decentralized finance (DeFi) and regulatory technological tools. These focus areas reflect the investment themes that have emerged in the digital asset economy:
- The latest innovations in digital asset ecosystems will play a key role in the future in a wide variety of industries
- The digital asset and token securities market opportunity is expected to grow significantly, with up to 10% of global GDP expected to be stored and processed using DLT infrastructure by 2027.
- The demand for regulatory technology tools by digital asset service providers and customers will increase dramatically, as regulators increasingly tighten their oversight of this industry.
The fund is poised to take advantage of large inflows of venture capital into the sector, which account for 6% of all global venture capital funding since the start of the year, up from just over 1% at the same. time last year. In the first half of 2021, more than $ 17 billion of investments had been made in blockchain / DLT and cryptocurrency companies around the world – more than five times that of 2019 – with the number of capital transactions – blockchain risk in Europe and the United States with the highest growth among all technology transactions entered into in these markets. Seven of the 10 greatest blockchain / DLT and cryptocurrency funding rounds of all time came to a close this year, underscoring the exponential growth trajectory this industry has embarked on.
SBI Ven Capital CEO and Managing Director Ryosuke Hayashi said, âDLT and digital assets are at the inflection point of general adoption, and they have the potential to reduce inefficiencies and unleash new capabilities. in several sectors, such as financial services and procurement. chain management. In this context, we are delighted to launch this latest venture capital fund offering with our partners Sygnum and Azimut. The fund allows us to bring our industry expertise and networks to accelerate the growth of promising digital asset companies and shape the future of financial services.
Sygnum Co-Founder and CEO Singapore Gerald Goh said, âWe are seeing the emergence of several innovative solutions from digital asset companies, particularly in decentralized applications, regulatory technology, digital exchanges and tokenization. These solutions have the potential to facilitate the reliable and secure transmission of information and value, enable companies to access untapped pools of capital at lower cost, and democratize financial inclusion. Through this fund, we are thrilled to bring together like-minded investors and entrepreneurs to collectively bring these solutions to market. “
Azimut Group Co-CEO and Global Head of Asset Management, Giorgio Medda, said: âBlockchain technology is reshaping the asset management ecosystem by enabling new financial solutions and tools in a wide range of applications that have the potential to redefine existing engagement. models with clients and service providers. In this regard, we are very pleased to enter into this partnership with SBI Group and Sygnum for the launch of this exciting new fund, which will offer client portfolios exposure to this new technology, while remaining broadly diversified in private markets and markets. global investment opportunities. “
Sygnum is the world’s leading digital asset bank and a specialist in global digital assets. With the Swiss banking license from Sygnum Bank AG, as well as the Capital Markets Services (CMS) license from Sygnum Pte Ltd in Singapore, Sygnum enables qualified institutional and private investors, corporations, banks and other institutions investors to invest in the digital asset economy with confidence. Sygnum operates a regulated, independently controlled, scalable and sustainable banking platform. Our interdisciplinary team of banking, investing and distributed ledger technology (DLT) experts shape the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singaporean heritage and operates worldwide.
About the SBI Group
The SBI Group is Japan’s largest FinTech conglomerate and a global leader in blockchain adoption. It has invested in more than 1,700 companies around the world and leverages its vast ecosystem to further increase the value of its investments. The main activities of the SBI Group include financial services activities, asset management activities and biotechnology-related activities. As of March 31, 2021, the SBI Group was made up of more than 200 companies (including consolidated partnerships, companies accounted for by the equity method and 15 listed companies). SBI currently has overseas investments or offices in over 20 countries.
SBI Ven Capital Pte. Ltd. is a leading venture capital firm investing in the financial services and technology sectors in Asia. He has a proven track record of partnering with businesses and bringing together the essential resources needed for business growth in Asia. SBI Ven Capital holds a Capital Markets Services (CMS) license issued by the Monetary Authority of Singapore.
Azimut is one of the European leaders in independent asset management (active since 1989). The parent company Azimut Holding was listed on the Italian stock exchange on July 7, 2004 (AZM.MI) and is, among others, a member of the main Italian index FTSE MIB. The shareholder structure includes more than 2,000 managers, employees and financial advisers bound by a shareholders’ agreement which controls approx. 21.8% of the company. The rest is floating.
The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with head offices mainly in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt, Singapore, Mexico, Australia, Chile, United States, United Arab Emirates and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as a discretionary management activity of individual investment portfolios. In addition, Azimut Capital Management SGR distributes the products of the Group and third parties in Italy via a network of financial advisers, while Azimut Libera Impresa focuses on the Alternatives activity. The main operations abroad are Azimut Investments (formerly AZ Fund Management, founded in Luxembourg in 1999), which manages the multi-strategy funds AZ Fund 1 and AZ Multi Asset and the Irish Azimut Life DAC, which offers investment products. ‘life insurance.
Photo by Victor Ng on Pixabay
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