The $47.3m SuMi Trust Innovation Fund is expected to invest its capital over a decade and will target companies developing digitisation products.
Sumitomo Mitsui Trust Bank (SMTB) has teamed up with fellow Japan-based financial services firm SBI Holdings’ SBI Investment subsidiary to form a ¥5bn ($47.3m) corporate venturing vehicle.
SuMi Trust Innovation Fund is set to operate for 10 years, taking minority stakes in companies past early stage. It will invest on a sector-agnostic basis and focus on developers of digitisation technology.
The fund will leverage SMTB’s industry expertise and capabilities and SBI Investment’s experience in the Japanese innovation ecosystem.
SMTB had…
