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SBI-Sygnum-Azimut digital asset venture fund makes first investment into Coinhako

12/07/2021 | 03:02am EDT

EQS-News: Dynamics Group AG / Key word(s): Cryptocurrency / Blockchain/Funds
SBI-Sygnum-Azimut digital asset venture fund makes first investment into Coinhako

07.12.2021 / 09:00


SBI-Sygnum-Azimut digital asset venture fund makes first investment into Coinhako

Zurich, 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."

CEO Singapore of Sygnum, Gerald Goh, says "Coinhako shows significant potential to be a key cryptocurrency player in Asia, and with the approval from MAS will be a trusted node in the digital asset ecosystem. We look forward to supporting them as they expand."

--- END ---

About Sygnum
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.

Media Contact:
Philippe Blangey
T: +41 79 785 46 32
E: prb@dynamicsgroup.ch

Sygnum Bank AG
Uetlibergstrasse 134a
8045 Zurich
Corporate Contact:
Claire Ong
E: claire.ong@sygnum.com

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,
Singapore 048616

About Azimut
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.

Media Contact:
Viviana Merotto
T: +39 338 74 96 248
E: viviana.merotto@azimut.it
Maria Laura Sisti (Esclapon & Co.)
T: +39 347 42 82 170
E: marialaura.sisti@esclapon.it

Disclaimer: This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.

End of Media Release

1254654  07.12.2021 


© EQS 2021
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