Asia Digest: Indonesia’s INA, DBJ announce collaboration; SC Ventures, SBI Holdings set up JV

The Indonesia Investment Authority and Development Bank of Japan announced a collaboration to back companies with flexible capital resources, while SC Ventures and SBI Holdings unveiled a new digital asset joint venture.

INA, DBJ explore joint investment opportunities

The Indonesia Investment Authority (INA) and Development Bank of Japan Inc (DBJ) signed an investment framework agreement on Thursday as part of a commitment to pursue joint investments.

INA and DBJ said in a joint statement that both parties are ready to explore investment opportunities together guided by shared eligibility criteria. Both parties seek to explore investment opportunities in the Indonesian hybrid capital solution space.

“With the introduction of INA’s focus on hybrid capital solutions investments, our aim is to equip local businesses with the financial tools they need to expand and thrive sustainably. Together, we are ready to offer practical solutions to the market and empower Indonesian enterprises to ascend to greater heights,” INA CEO Ridha Wirakusumah said, noting that such an endeavour aligns with INA’s mandate contributing to sustainable economic development.

SC Ventures, SBI Holdings to invest $100m in crypto startups

Standard Chartered’s investment arm, SC Ventures, and Japanese financial conglomerate SBI Holdings are set to invest $100 million in digital asset startups through a newly launched vehicle in the UAE.

SC Ventures and SBU Holdings announced the formation of a UAE-based digital asset joint venture investment company on Thursday, as per a statement.

The vehicle plans to take part in seed-to-Series C funding rounds globally in areas such as tokenisation, metaverse, and others.

“Our Digital Asset Joint Venture plans to make strategic and minority investments in areas such as market infrastructure, risk management and compliance tools, DeFi, tokenisation, consumer payments, and the Metaverse. This is one of the several strategic initiatives, and we will continue to invest and expand our footprint in the region as well as across the digital assets ecosystem,” Alex Manson, SC Ventures CEO, said in a statement.