SSI Digital Ventures has announced an investment in U2U Network, a Layer 1 blockchain project focused on DePIN, while Japanese corporate VC firm Reazon Capital has announced the soft opening of its new office in Ho Chi Minh City.
SSI Digital Ventures invests in U2U Network
SSI Digital Ventures, an investment platform managed by SSI Asset Management (SSIAM), a subsidiary of the Vietnamese securities firm SSI, has announced an investment in U2U Network, a Layer 1 blockchain project focused on DePIN.
This investment was made through the $200-million investment platform for innovative businesses in the digital technology and blockchain sectors launched by SSIAM in January this year.
The investment amount was not disclosed. However, the investment platform’s ticket size ranges from $50,000 to $5 million.
The platform, called SSI Digital Ventures, plans to invest in 10 promising projects in the country’s blockchain and artificial intelligence (AI) sectors this year. The platform aims to support groundbreaking innovations in the application of blockchain technology to the finance, healthcare, education, and agriculture sectors.
The initial $200-million investment will be made by SSI, with plans to increase it to $500 million by roping in external investors.
U2U Network aims to use this capital for its expansion and technology development. In addition, SSI Digital has also signed a strategic cooperation agreement with Tether and Amazon Web Services (AWS), to promote the development of digital financial infrastructure, blockchain and cloud computing in Vietnam.
Reazon Capital opens office in Vietnam
Japanese corporate VC firm Reazon Capital has announced the soft opening of its new office at the Riverfront Financial Centre in Ho Chi Minh City.
This strategic move underscores the firm’s commitment to nurturing the burgeoning startup ecosystem in Vietnam, the firm wrote in an announcement.
“Establishing our HCMC office is a deliberate move. It’s driven by our conviction in the future being built here and allows us to deploy more capital and hands-on support. We believe the next generation of impactful companies will come from Vietnam, and we intend to be their earliest backers,” the firm stated.
Reazon Capital is the investment arm of Tokyo-based information technology company Reazon Holdings. It is looking at making 8 investments in Southeast Asia this year, of which 6 will be in Vietnam.
