Sumitomo Mitsui Financial Group (TYO:8316) unit Sumitomo Mitsui Banking Corp has launched a $300 million corporate venture capital fund with Fin Capital to invest in early-stage U.S. fintech startups, according to a Monday release.
The Cayman Islands-based SMBC Fin Atlas Beyond Fund, LP will focus on areas such as BankTech, payments, InsurTech, AI infrastructure, and CFO software. SMBC's CVC operations will be branded as Atlas Beyond Ventures.
Founded in 2018, Fin Capital manages over $1 billion in assets and invests across the B2B fintech lifecycle.
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