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SC Ventures and SBI Holdings sign MOU to accelerate portfolio expansion and build ecosystems
SC Ventures, Standard Chartered’ s innovation, fintech investment and ventures arm, announced that it had entered into a memorandum of understanding (MOU) with SBI Holdings, Inc to expand their portfolio, both at a business and geographic level, and to explore new ecosystems through this partnership.
SBI is a major Japanese financial conglomerate, with verticals in asset management, financial services and biotechnology-related businesses. Its venture capital fund has a diverse investment portfolio covering internet technology, fintech, artificial intelligence and big data, blockchain and crypto assets.
SC Ventures and SBI hold core beliefs in transforming financial services through building and investing in “ecosystems” of new companies, which will serve their customers in the ways they want to be served. Both organisations also have a common goal of leveraging innovative technology to fulfil society’s expectations of financial services, as it relates to enabling growth, welfare improvement, sustainability and financial inclusion in the markets where they operate.
The MOU offers an opportunity for SBI and SC Ventures to mutually benefit from the collective breadth of investment expertise and complementary global footprints. SBI is headquartered in Japan with a strong presence in Southeast Asian markets, while SC Ventures has significant experience operating across Asia, Africa, and the Middle East.
The MOU is structured to cover three main areas – (1) Opportunities to drive collaboration as well as co-invest in portfolio companies, including the option to establish joint venture funds, (2) Cooperation for business development to set up or scale business models leveraging each other’s geographic footprint (3) Creating ecosystems around particular themes to drive scale and impact (some examples include SMEs and supply chains, digital assets, decentralised finance, Web 3.0).
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TSAM London: FE fundinfo on Mastering Data and Unifying Operations in Asset Management
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