Japan’s SBI unveiled its latest “Digital Space” fund, which will invest up to Yen 100 billion ($660m). Web3 and the metaverse are the first technologies on the list. However, it also covers AI, fintech, healthcare, digital transformation and climate tech.
The fund is managed by SBI Investment. Previous mega funds include the 2018 SBI AI&Blockchain ($400m) Fund and the 4+5 Fund ($660m).
Apart from SBI, follow on investors from the 4+5 fund include Mitsui & Co, Sumitomo Bank, Dai-ichi Life Insurance, Mizuho Bank and Fukuoka Bank. New investors include Nippon Life Insurance, beauty company Mandom and Sanyo Foods.
Just last week SC Ventures and SBI Holdings announced a $100 million Digital Asset Joint Venture in the UAE, separate from the Digital Space Fund.
SBI is a prolific investor in the blockchain space. Its most extensive activities are in the digital asset space, but it also invested in blockchain for insurance (the now defunct B3i) and SBI Traceability used for Saki traceability and authentication.
On the digital asset front it has extensive cryptocurrency interests, including a crypto exchange and owns the B2C2 global market maker. On the tokenized securities front, it is an investor in the Progmat and BOOSTRY tokenization platforms. Plus, it owns the secondary exchange ODX, which is soon to launch digital securities. CBOE recently announced it invested in ODX.
Additionally, SBI invested in multiple key DLT technology players, including Ripple, R3 and Digital Asset. It has joint ventures with all three.
