Mizuho commits $20M for tech fund in China

Mizuho Securities, a subsidiary of Japan’s second-largest lender Mizuho Financial Group, will establish a technology investment fund in China in partnership with two local venture capital firms, according to a report by the Nikkei. Mizuho Securities is said to have made an initial $20-million commitment to the fund, which will be managed by Cybernaut Investment Group and New Frontier Capital Management (Hong Kong), in which the Japanese brokerage house is a shareholder.

The new fund will focus on investments in technologies such as artificial intelligence and fintech. Mizuho and Cybernaut expect to expand the portfolio to about $300 million, the report said. In an attempt to boost its services for corporate clients abroad, Mizuho plans to help Japanese firms partner with and invest in Chinese startups.

Navojit Dastidar