Singapore, 7 December 2021 – The SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) fund announces today that it has made its first investment into Coinhako, Singapore’s leading cryptocurrency exchange. The strategic fundraising round was three-times oversubscribed and attracted other prominent institutional investors including SBI Group, Japan’s largest FinTech conglomerate and a global leader in blockchain adoption.
- Coinhako will use the proceeds to expand geographically into Southeast Asia, as well as into institutional and high-net-worth customer segments
- SBI, Sygnum, and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako’s expansion
- With several promising targets in the pipeline, the DAO fund aims to provide a platform for investee companies to leverage the strength of its existing network and the future network of its portfolio
Coinhako recently received an in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a major payment institution. The new funds raised will now enable the company to grow its team as it expands across Southeast Asia to serve the region’s rapidly growing cryptocurrency user base. The funds will also accelerate Coinhako’s acquisition of a deeper and wider customer base in Singapore with Coinhako Privé, its recently launched institutional and high-net-worth offering.
SBI, Sygnum, and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako’s expansion plans. With several potential investment targets already in the pipeline, the DAO fund, which brings together the collective digital asset experience and networks of SBI, Sygnum and Azimut, aims to accelerate the growth of promising companies in this sector, while providing qualifying investors with unrivalled access to the fast-growing digital asset economy.
Director of the Digital Asset Opportunity fund, Alice Mak, says “We are excited to have Coinhako as the first investment of the DAO fund. As we continue to invest in top digital asset companies, the fund will provide them with a platform to accelerate their growth by leveraging the strength of our existing network and the future network of the fund’s portfolio.”
Co-Founder and CEO of Coinhako, Yusho Liu, says “Coinhako has been able to close our previous fund raises with prominent foreign venture capitalists, dating back to our angel round in 2014. Today, we are excited to onboard a new set of strategic investors with a strong presence in Singapore to accelerate our growth in the financial hub and across the region.”
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About SBI Group
The SBI Group is Japan’s largest FinTech conglomerate and a global leader in blockchain adoption. In addition, it is one of the largest Japanese private equity firms with AUM in excess of USD 5.55 billion. It has invested in more than 1,700 companies globally and leverages its extensive eco-system to further drive the value of its investments.
The SBI Group’s core businesses include Financial Services Business, Asset Management Business and Biotechnology-related Business. As of March 31, 2021, the SBI Group consists of more than 200 companies (including consolidated partnerships, equity method affiliates and 15 publicly listed companies). SBI currently has investments or overseas offices in more than 20 countries.
SBI Ven Capital Pte. Ltd. is a leading venture capital firm that invests in financial services and technology sectors across Asia. It has a proven track record of partnering with companies and assembling critical resources needed to grow businesses in Asia. SBI Ven Capital holds a capital markets services (CMS) licence issued by the Monetary Authority of Singapore.
SBI Ven Capital Pte. Ltd.
1 Raffles Place,
#18-03 One Raffles Place
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s banking licence in Switzerland, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum Bank AG operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The group is founded on Swiss and Singapore heritage, and operates globally. To learn more about Sygnum, please visit www.sygnum.com.
T: +65 8817 0711
Sygnum Pte. Ltd.
4 Battery Road
#25-01 Bank of China Building
Azimut is one of Europe’s leading independent asset managers (active since 1989). The parent company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB. The shareholder structure includes over 2,000 managers, employees and financial advisors bound by a shareholders’ agreement that controls ca. 21.8% of the company. The remaining is free float. The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices mainly in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt, Singapore, Mexico, Australia, Chile, USA, UAE and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as being active in the discretionary management of individual investment portfolios. Furthermore, Azimut Capital Management SGR distributes Group and third-party products in Italy via a network of financial advisors while Azimut Libera Impresa focuses on the Alternatives business. Overseas main operations are Azimut Investments (formerly AZ Fund Management, founded in Luxembourg in 1999), which manages the multi strategy funds AZ Fund 1 and AZ Multi Asset and the Irish Azimut Life DAC, which offers life insurance products.
T: +39 338 74 96 248
|Maria Laura Sisti (Esclapon & Co.)
T: +39 347 42 82 170