Standard Chartered’s innovation, fintech investment and ventures arm SC Ventures announced that it had entered into a memorandum of understanding (MOU) with SBI Holdings.
The MOU was inked to expand both their portfolios at a business and geographic level as well as 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.
The MOU is structured to cover opportunities to drive collaboration as well as co-invest in portfolio companies, including the option to establish joint venture funds.
Both entities will be creating ecosystems around particular themes to drive scale and impact which include SMEs and supply chains, digital assets, decentralised finance, Web 3.0 and more.
The partnership also offers an opportunity for SBI and SC Ventures to mutually benefit from 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.
