Financial

The Japanese banking group's SMBC Fin Atlas Beyond Fund will invest in US-based AI and fintech startups.

The costs of making things in space — and getting them back to earth — is high. But infrastructure to bring down the costs is being built.

The decline of cleantech and hydrogen investments is overstated in H1, according to GCV data, while transport investments go cold.

The new funding brings total commitments at Propel Venture Partners, which was spun out of the Spanish bank in 20216, to more than $437m.

VC firm Crane Venture Partners will oversee the insurer's $450m Europe and APAC funds and manage existing and new investments.

The UK is due to finalise rules on stablecoins next year and Keith Grose, CEO of Coinbase's UK subsidiary says the country has an opportunity to turn itself into Europe's leader in the industry.

Fukuoka Financial Group has launched its second corporate venturing fund, a joint venture between its CVC arm and fund manager SBI Investment.

Kaweewut Temphuwapat, newly installed CEO of Siam Commercial Bank's venture arm, is targeting US startups to build on partnerships with the likes of Ripple and Together AI.

The bank has created a new fintech and AI venture unit, Itaú Ventures, following the acquisition of an investment firm.

Some 46 corporate-backed startups had an exit in May, a handful at more than $1bn. But the market is still in a holding pattern.

The UK has long been a fintech hub, but the next generation of financial startups will be based on AI, and the UK ecosystem may not be funding these as fast as it should.