JBIC, Mizuho partner with Singapore government to promote SMEs

This will involve seeking joint-venture opportunities, exchanging of information and leveraging each other's networks.

The agreement complements the recent launch of the $150 million Mizuho ASEAN Private Equity fund to which JBIC and MHCB have committed $25 million and $125 million, respectively.

The fund is aimed at supporting Japanese companies, including small and medium-sized enterprises (SMEs), as they expand into ASEAN countries. Individual investments will range from around JPY500 million ($5 million) to JPY1.5 billion.

"Taking this opportunity of equity participation of Mizuho and JBIC in the fund and having close relationship with SPRING, we can come up with valuable strategic alliance opportunities between Singapore SMEs and Japanese companies," said Hiroshi Suehiro, managing executive officer and head of Asia & Oceania for MHCB in a statement.

Both sides hope the deal will combine the advantages of Singapore's infrastructure, workforce and intellectual property regulations with Japan's technological innovation capabilities.

"We are confident that this strategic partnership with JBIC and MHCB will facilitate and catalyse more meaningful collaboration between SMEs in Singapore and Japan." said Choy Sauw Kook, assistant chief executive of SPRING Singapore.

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• Topics
• Fundraising
• Southeast Asia
• North Asia
• SME
• Singapore
• Japan
• Growth capital
• Joint Venture
• Fundraising