SBI, Sygnum launch digital assets fund

The fund has a target size of $50-75 million and a first close is scheduled for the first quarter of 2021, Ryosuke Hayashi, CEO of SBI Ven Capital, told The Business Times.

It will focus on companies involved in the development of digital ledger technology-based infrastructure, decentralized finance solutions and regulatory tools. SBI Ven Capital and Sygnum said in a statement that they will offer business development and operational support - leveraging their collective expertise and networks - in addition to capital. 

They also plan to tokenize the fund, making it more accessible for investors and offering greater post-investment liquidity.

SBI Group, with more than $4.2 billion in assets under management, has invested in over 1,500 companies globally, including blockchain players Ripple Labs and R3.

Sygnum - which counts Singtel Innov8, the VC arm of Singtel Group, as one of its investors - was founded by a team of Swiss and Singaporean professionals. It develops products and services in both markets. The firm has played a key role in launching a number of Swiss digital asset-focused start-ups in the past two years.

Sygnum will also market the fund to its asset management clients as a means of building exposure to digital asset innovation and growth, said Fabian Dori, the firm's head of asset management.

Distributed ledger technology-related global private investments have increased almost seven-fold over the past five years, according to 2019 fintech report published by KPMG.

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• Topics
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