SMBC approves $20m commitment

The Japanese bank seeks global venture opportunities through a Singapore-based fund of funds.

Institution: Sumitomo Mitsui Banking Corporation
Headquarters: Tokyo, Japan
AUM: ¥179.35trn
Bitesize: $10m-$50m

Sumitomo Mitsui Banking Corporation has approved a commitment of $20 million to Vertex Master Fund II, a venture capital fund of funds managed by Vertex Venture Holding. Development Bank of Japan and Marubeni Corporation are also investors of the fund.

The fund, which has raised $730 million of capital, aims to invest in venture funds to target businesses in consumer, healthcare and technology industries.

As illustrated below, the commitment to Vertex Master Fund II is its only investment in fund of funds recently. Previously, it has committed to different funds to explore venture opportunities across the globe.

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