TechFlow news: Japanese financial giant SBI Holdings and energy company Saudi Aramco will explore potential collaborations in digital assets and semiconductors, and plan to establish an "SBI Middle East" operational base in Riyadh.
In addition, SBI and Saudi Aramco will consider jointly investing in each other's digital asset portfolios and supporting Japanese digital asset startups seeking to expand their operations in Saudi Arabia.
Earlier reports indicated that SBI Holdings will begin operating a fund this year targeting investments in startups focused on Web3, AI, and the metaverse. Individual investments are expected to range from several hundred million to over one billion yen, with approximately 150 to 200 companies to be funded. The total fund size is projected to reach up to 1 trillion yen (approximately $663 million).
