SMBC to invest $20m in Vertex Master Fund

Maria Nikolova

The investment of US$20 million is set to enhance SMBC’s access to firms with cutting edge technology, allowing the bank to better support customers’ growth.

Sumitomo Mitsui Banking Corporation (SMBC) today announces that the bank has committed to invest in Vertex Master Fund (SG) II LP, a partnership established by a subsidiary of Vertex Venture Holdings. Vertex is a wholly-owned subsidiary of Temasek Holdings (Private) Limited, a global investment company owned by the Singaporean government.

The partnership invests in firms possessing technology with high-growth potential in sectors that have seen massive innovation development and uptake, such as healthcare and Fintech, via venture capital funds which operate in various parts of the world, including Southeast Asia, India and the United States.

The investment of US$20 million is set to enhance SMBC’s access to firms with cutting edge technology, allowing the bank to better support customers’ growth by providing the customers with partnership opportunities with startups located around the world. SMBC will also use the investment to push further its own digitalization.

In a separate announcement issued today, Marubeni Corporation says it executed contract agreements with Vertex Venture Holdings Ltd. The contract is an agreement to invest in Vertex Master Fund (SG) II LP.

VMF2 is a subsequent fund of the high-performing Vertex Master Fund, and its primary purpose is to invest in venture capital funds all over the world including South East Asia, China, India, the United States and Israel. The target total amount for VMF2 will be approximately US$ 770 million, of which up to US$ 50 million will be Marubeni’s investment.

Through collaboration with VVH and invested startups, Marubeni hopes to gain a better understanding of innovative business model trends, primarily in Asian countries, facilitate its own innovation which will go beyond the company’s current business framework, and pursue the creation of new business models which will lay the foundation of the revenue for next generation.

Read this next

Retail FX

Weekly Roundup: John Oliver rips into MetaTrader, Binance to pay $10 billion

Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.

Retail FX

Lark Funding reopens to US traders, MyFundedFX picks cTrader

Canada-based prop trading firm Lark Funding announced it will once again welcome clients from the United States.

Institutional FX

Cboe FX volume falls to lowest level since summer

Cboe’s institutional spot FX platform, known as Cboe Spot, today announced its trading volume for the month ending February 2024, which took a step back after a strong rebound in December.

Retail FX

ThinkMarkets secures lucrative DFSA license in Dubai

Melbourne-based broker ThinkMarkets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

Digital Assets

New Horizen Lays Out Its Vision Of A Modular, Proof Verification Layer For Web3 Networks

Horizen is forging a new path for the future of blockchain with its New Horizen initiative, which is building a modular Proof Verification layer that’s dedicated to verifying cryptographic proofs for any settlement layer, beginning with Ethereum. 

Digital Assets

Karma3 Labs Raises a $4.5M Seed Round Led By Galaxy and IDEO CoLab to Build OpenRank, a Decentralized Reputation Protocol

Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

Digital Assets

Worldcoin down as Elon Musk sues OpenAI CEO Sam Altman

Worldcoin’s (WLD) token dropped following news of a lawsuit against related company OpenAI. The lawsuit was filed by Elon Musk and accused OpenAI and CEO Sam Altman of breach of contract.

Institutional FX

Exegy’s Liquidity Lamp adds intraday data to outperform S&P 500 by 31.8%

Exegy has incorporated intraday signals into its AI-powered iceberg order detection tool, Liquidity Lamp. By adding intraday data to a baseline mean reversion strategy, Exegy’s model outperformed the baseline by 10.5% and the S&P 500 (SPY) by 31.8%, respectively in the out-of-sample testing.

Industry News

Think Elon Musk backed your crypto exchange? ASIC’s latest reveal may shock you

In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocurrency exchange are as fake as a three-dollar bill.

<