SBI Holdings has acquired a 35% stake in the corporate venturing subsidiary of ICCP Group, which plans to raise up to $100m for its next fund, for an undisclosed sum.
Japan-based financial services firm SBI Holdings has purchased a 35% stake in ICCP Venture Partners (IVPI), the investment division of Philippines-based financial services and real estate firm ICCP Group, according to DealStreetAsia.
Financial terms of the transaction have not been revealed. SBI has signed an agreement with ICCP to become an “equity method associate” and a co-fund manager, according to SBI director and chief executive Yoshitaka Kitao.
IVPI plans to now raise $100m for its next fund with the assistance…
