Japan's MUFG launches fund for U.S., Israel AI startups

Financial group eyes new fintech services for bank unit and clients

20230907N MUFG logo

Mitsubishi UFJ Financial Group is stepping up investment in startups to tap into emerging technologies. © Reuters

YUKI NAKAMURA, Nikkei staff writer

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.

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