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Mizuho commits an initial $20 million funds for China tech

The subsidiary of Mizuho Financial Group, the 2nd largest Japanese lender, has recently planned to establish the fund for technology investment in China. Mizuho Securities will initiate this proceeding with 2 local venture based on capital firms.

Mizuho Securities was noted to have pitched in an initial fund of $20 million that shall be managed by New Frontier Capital Management and Cybernaut Investment Group. The Japanese brokerage company is a major shareholder with this Hong Kong based company New Frontier Capital Management.

This new fund has been pitched in for investments at areas such as Artificial Intelligence, Fintech, and several other technologies. Cybernaut and Mizuho expect to expand this portfolio to a whopping $300 million. The company also attempts to boost the services for the corporate clients present abroad. Additionally, Mizuho also plans to aid Japan-based firm partners, a chance to invest in the Chinese startups.

Just in the early half of the month, the parent firm joined with an initiative that supports the startup businesses via cooperation coming from Hong Kong based Cyberport as well as Science and Technology Parks. Under this agreement, both the parties shall assist Hong Kong and Japanese startups with a desire to enter two markets. Also, the agreement will aid participation in pursuing R&D, Business Demonstrations, and Facilitation of Investments.