Standard Chartered’s venture capital arm enters a tie-up with Japanese financial conglomerate SBI Holdings.
SC Ventures has entered a memorandum of understanding (MOU) with SBI Holdings to work on creating «ecosystems» in financial services investments, the StanChart venture capital arm said in a press release Monday.
The deal covers collaboration and co-investments in portfolio companies, and there is a possibility that joint venture funds will be set up as a result of it.
Geographic Footprints
SBI and SC Ventures will tap on their complementary geographic footprints. SBI is based in Japan and has a strong presence in Southeast Asia while SC Ventures has operating experience in Asia, Africa and the Middle East.
SC Ventures’ previous investments include retail investment platform Chhotastock, compliance tech Silent Eight, cloud-banking tech Thought Machine and Indonesian e-commerce player Bukalapak, according to Crunchbase data. It has made a total of 10 investments, the data show.
Japan-based SBI offers asset management, financial, and biotech-related services.
