July 22, 2016 6:15 am JST

Daiwa, Digital Garage plan fund targeting AI, blockchain

TOKYO -- Daiwa Securities Group and Japanese venture capital firm Digital Garage will create a fund to invest in start-ups developing artificial intelligence and blockchain technology.

A 50-50 joint venture will be set up to manage the fund, which will begin investing as early as autumn. The aim is to spend a total of 10 billion yen to 20 billion yen ($94.4 million to $188 million).

The fund will also support companies involved in virtual and augmented reality, data security, and biotechnology. The duo will seek to apply the startups' expertise in the securities business and elsewhere.

Each startup, including non-Japanese ventures, will receive several hundred million yen. The fund will raise capital from 30 to 50 companies.

Digital Garage is the top shareholder in Kakaku.com. The plan is to combine Digital Garage's expert judgement on tech companies with Daiwa's knowledge and experience in fund management.

(Nikkei)

Daiwa Securities Group Inc.

Japan

Market(Ticker): TKS(8601)
Sector:
Industry:
Finance
Investment Banks/Brokers
Market cap(USD): 11,529.5M
Shares: 1,699.38M

Digital Garage, Inc.

Japan

Market(Ticker): TKS(4819)
Sector:
Industry:
Technology Services
Internet Software/Services
Market cap(USD): 1,424.66M
Shares: 47.29M

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

Resubscribe now to continue reading.
BEST OFFER:
Only US$ 9.99 per month for a full-year subscription

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.