Japan banks boost funding to late-stage startups

Sumitomo Mitsui Trust to provide $350m to help fill financing gap leading into IPOs

20231225N Sumitomo Mitsui Trust

Sumitomo Mitsui Trust will provide funding to late-stage startups with firmly established business models. (Photo by Kaisuke Ohta)

HARUKI KITAGAWA, Nikkei staff writer

TOKYO -- Japanese banks are moving to supply more capital to late-stage startups before they go public, looking to address a dearth of funding at this phase that tends to stymie growth and may contribute to Japan's lack of unicorns.

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