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.

article-image

Source: Shutterstock

share

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.


Tags

Upcoming Events

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

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

hivemapper.jpeg

Research

We believe crypto market participants overlook Hivemapper’s fundamental potential due to a poor understanding of both the niche map data market and Hivemapper’s positioning relative to incumbents. Hivemapper’s token model catalyzes both a cost and product advantage via unmatched map freshness and near real-time accuracy, which is its wedge into a market characterized by stale data and high data collection costs. Its current and potential future product suite may represent one of the strongest possibilities for PMF in crypto today.

article-image

As part of its 19b-4, the potential issuer included a correlation analysis of ETH that’s “substantially similar” to the BTC analysis done by the SEC before it approved the spot bitcoin ETFs

article-image

A greater focus on data availability sampling is top of mind, including additional work that layer-2s must do to become faster and more secure

article-image

The former FTX CEO was sentenced in a New York courtroom on Thursday

article-image

👨‍⚖️ SBF’s courtroom sequel: Plus, Coinbase’s legal loss was DeFi’s gain

article-image

Public mining companies have been acquiring sites, refreshing machine fleets and diversifying business models in preparation for the event