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SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE | Fintech InShorts: Latest fintech news, analysis by experts

SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE

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Less than 1 min.Read

SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE

November 13, 2023

Joint Venture Establishment:
- SC Ventures and SBI Holdings plan to create a digital assets investment firm in the UAE.
Collaboration with Dubai International Financial Centre:
- Standard Chartered previously signed an MoU with the Dubai International Financial Centre in May to collaborate in the digital assets space.
Initial Capitalization:
- The joint venture will start with a $100 million capitalization from SC Ventures and SBI Holdings.
Global Investment Plans:
- The venture aims to invest in companies worldwide, focusing on seed to Series C stages.
Target Companies:
- The investment focus includes digital assets sector companies involved in market infrastructure, risk and compliance tools, DeFi, tokenization, consumer payments, and the Metaverse.
Rationale for UAE Location:
- The UAE is becoming a fintech hub for digital assets due to its regulation, strengthened infrastructure, and talent pool, according to Alex Manson, CEO of SC Ventures.
Leveraging Expertise:
- The new venture plans to leverage SC Ventures’ experience in digital assets gained from ventures like Zodia Custody and Zodia Markets, as well as investments in fintechs such as Ripple and Metaco.

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