SBI, Sygnum and Azimut Found New $75M Fund

Singapore-based Variable Capital Company will invest in Pre-Series A and Series A stage digital asset startups focusing on infrastructure, DeFi and Reg Tech.


Source: Shutterstock


key takeaways

  • Fund to focus on blockchain infrastructure, DeFi and regulatory technology tools in Europe and Southeast Asia
  • SBI estimated up to 10% of global GDP projected will be stored and transacted using DLT infrastructure by 2027

Japan’s largest FinTech conglomerate, SBI Group, joins the world’s first digital asset bank Sygnum and Azimut Group a leading independent asset manager in Europe to launch a venture capital fund of up to $75 million which will invest in start-up companies in the digital asset sector.

The Singapore-incorporated fund, dubbed Variable Capital Company, aims to “accelerate the growth of promising companies in this sector, while providing qualifying investors with unrivalled access to the fast-growing digital asset economy,” according to a Sygnum press release.

The investment strategy will focus on early stage start-ups developing blockchain/distributed ledger technology (DLT) infrastructure, decentralized finance (DeFi) solutions and regulatory technology tools.

This year has seen a tremendous influx of funding into crypto, Sygnum notes, through the first half of 2021 along, over $17 billion of investments have flooded the space including seven of the ten largest blockchain/DLT and cryptocurrency funding rounds of all time.

“DLT and digital assets are at the inflection point of mainstream adoption, and they have the potential to reduce inefficiencies and unlock new capabilities across several sectors, such as financial services and supply chain management,” said Ryosuke Hayashi, CEO and Managing Director of SBI Ven Capital.

Funds are almost routinely raising hundreds of millions of dollars to invest in new technology startups. Earlier this month, Pantera Capital announced a new $600 million blockchain fund. In fact, Blockworks previously reported that crypto venture capital is at an all-time high.

Regulatory technology (or reg tech) is another major theme of the new fund. The trio of companies believes that increased oversight by regulators of the digital asset sector will require new tools for digital asset service providers and their clients.

Are you a UK or EU reader that can’t get enough investor-focused content on digital assets? Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.


Plus, Imran Khan’s intriguing experiment on the speeds of crypto onramps


The SEC has signaled a timeline to issuers that could lead to a July 23 launch for the ETH funds, people close to the process told Blockworks


PayPal has unequivocally made a name for itself as a crypto adopter among fintech giants


Also, a look into how the highly-debated SAB 121 could end up shaking out for crypto custodians


Vance, an Ohio Republican, is largely seen as crypto-friendly


Plus, all the world is green as prices across the crypto space rally, with solana reaching a nearly two-week high