Japan-based financial services firm SBI intends to raise up to ¥100bn ($920m) for its next venture capital fund, Nikkei reported on Friday.
The vehicle has been dubbed the 4+5 Fund due to its expected focus on technologies in the industry 4.0 space, where sensors and the internet of things (IoT) inform traditional hard industries, and Society 5.0, Japan’s vision for a society that utilises technology to solve new problems.
SBI has emerged as one of Japan’s most notable corporate venturers. Although many of the country’s largest financial services firms actively participate in the local startup space, it has made a concerted effort to make strategic investments in fintech developers such as Ripple and CurrencyCloud.
The 4+5 Fund will invest in developers of technologies and products across the 5G, IoT, robotics and digital healthcare sectors, chief executive Yoshitaka Kitao told reporters. SBI intends to reach a first close by the end of next month and begin investing at that point.
The new vehicle will follow the SBI AI and Blockchain fund set up by the firm in 2019. Its limited partners include Thailand-based financial services Bank of Ayudhya and it is sized at ¥60bn according to Nikkei.
SBI’s chief operating officer, Katsuya Kawashima, said the company expects to source capital for the 4+5 Fund from some 200 LPs that will include corporate backers, banks and pension funds.
