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Japan's SBI to invest in Asian tech with new Singapore fund

Financial giant partners with local university, South Korean insurance group

SBI has confidence in the growth of regional startups, even amid a global sell-off of technology companies. (Photo by Tsubasa Suruga)

TOKYO -- Japanese financial group SBI Holdings is setting up a new venture capital fund in Singapore with Asian partners to capitalize on the growth of Southeast Asia's booming digital economy.

With a target to raise $75 million by September next year, the group's Singapore venture company SBI Ven Capital will invest in early-stage startups in Asia, with a focus on industries like finance, health care, agriculture and education.

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