MUFG Innovation Partners, the corporate venturing unit for Japan-based financial services provider Mitsubishi UFJ Financial Group, launched its second fund yesterday with ¥20bn ($185m).
The fund focuses on global financial technology startups with “strong business synergies with MUFG’s banking, brokerage, trust banking, credit card and other financial businesses,” according to Nobutake Suzuki, president and CEO of MUFG Innovation Partners, who rejoined the group in 2018.
The second fund also targets non-financial businesses and environmental and social-related startups which can collaborate with MUFG, he added. The bank’s ¥20bn first fund launched in 2019 and has made more than 20 financial technology-related startups in Japan and overseas.
