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World's largest bank to launch $282M start-up fund

Published on .

A trio of Japanese banks due to merge in September plan to launch a $282 million start-up fund by March. Executives of Dai-Ichi Kangyo Bank Ltd., Fuji Bank Ltd. and Industrial Bank of Japan Ltd., which when merged will form the world's biggest bank, said the Tokyo-based fund will invest mainly in IT companies, according to published reports. Japanese banks are latecomers to the b-to-b and venture capital marketplace; their connections throughout Asia, however, could put them in good stead to make up ground quickly.
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