TOKYO -- A subsidiary of Japan's Mitsubishi UFJ Financial Group has launched a 20 billion yen ($136 million) fund investing mainly in overseas startups, with a focus on generative artificial intelligence technology that can be used by the group's banking unit.
The fund being managed by MUFG Innovation Partners (MUIP) will look for fintech-related businesses in such countries as the U.S. and Israel, aiming to promote development of financial services that use generative AI.
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