Digest: Japan Post Bank, Spiral Capital launch fund; SC Ventures, ENGIE Factory team up

Digest: Japan Post Bank, Spiral Capital launch fund; SC Ventures, ENGIE Factory team up

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One of the world’s largest banks, Japan Post Bank, has launched a new fund aimed at supporting startups and announced a $65 million commitment to the vehicle. Separately, Standard Chartered Ventures and French utility company ENGIE Group are collaborating to invest in a conservation funding venture.

Japan Post Bank launches fund, commits $65m

Japan Post Bank has committed 10 billion yen (approximately $65 million) to a fund designed to support startups that are looking to revive “struggling regional economies”, according to a report by Japanese news outlet NHK World Japan on Wednesday.

The fund is reportedly a joint venture with Japanese venture capital company Spiral Capital and approved startups can receive up to $6.5 million each.

The bank, which had about 1.3 trillion dollars in deposits at the end of last year, has primarily invested in stocks and bonds. It now plans to increase its investments in funds.

SC Ventures, ENGIE Factory team up to fund conservation projects

SC Ventures, the innovation and fintech arm of banking corporation Standard Chartered, and ENGIE Factory, a startup studio under French utility company ENGIE Group, are collaborating to invest in a venture that uses carbon credits to fund conservation projects.

In a joint statement today, the companies said that the venture is expected to launch in 2024, aiming to address the planet’s pressing environmental challenges while delivering attractive returns for investors.

“Sustainability is part of our four high-conviction themes at SC Ventures—investing in conservation is not only a societal imperative but also a smart business decision,” said Alex Manson, CEO, SC Ventures.

Caroline Guyot, Managing Director at ENGIE Factory, highlighted the collaboration’s potential to drive significant environmental impact through expertise in high-quality carbon credits, opening up new investment avenues in conservation.

According to carboncredits.com, carbon credits, also called carbon allowances, “work like permission slips for emissions. When a company buys a carbon credit, usually from the government, they gain permission to generate one tonne of CO2 emissions”.

Edited by: Pramod Mathew

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