SBI Holdings Launches $663 Million Fund to Support Web3 and AI Startups in Japan

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SBI Holdings, a prominent Japanese financial company, is set to launch a $663 million fund to support Web3, AI, and other fintech startups. The fund aims to invest in 150-200 companies and is expected to begin operations by the end of this year. This ambitious initiative has already secured significant contributions from major financial institutions such as Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group. These investments are crucial in a country where venture capital funds of this magnitude are relatively scarce. Japan has recognized the need to foster and nurture startup enterprises, prompting the Kishida administration to outline a “5-year startup development plan” to elevate Japan as a startup hub in Asia. The government has set a goal of increasing investment in startups from 800 billion yen in 2022 to 10 trillion yen by 2027, with the aim of nurturing the development of 100 unicorns and 100,000 startup companies. To support the growth of Web3 and AI startups, the Japanese government is revising tax frameworks related to corporate taxes and virtual currencies. The final outline of the proposed tax reform is expected to be confirmed in mid-December. These efforts reflect Japan’s commitment to positioning itself as a thriving global startup hub and solidifying its status as Asia’s largest startup ecosystem.

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