Digital Garage and the Bank of Yokohama Establish “Hamagin DG Innovation Fund”
~Creating New Financial and Non-financial Services Required for the New Normal~
Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) and The Bank of Yokohama, Ltd. (HQ: Kanagawa; Representative Director, President: Yasuyoshi Oya; the Bank of Yokohama) will establish “Hamagin DG Innovation Fund Investment Limited Partnership (in short, Hamagin DG Innovation Fund).” This investment fund will invest in startups with technologies and services that contribute to open innovation in finance-related fields. It will promote the creation of services and solutions utilizing new technologies in the payment, digital marketing, and other fields. Through measures such as providing an innovation platform to invigorate economic activities in Kanagawa Prefecture and Tokyo, “Hamagin DG Innovation Fund” will help accelerate investee growth and support open innovation by financial institutions. “Hamagin DG Innovation Fund” is operated by DG Incubation, Inc., a DG subsidiary in the investment business.
The DG Group has been involved in businesses including: the payment business that provides a package of various payment methods, as a critical infrastructure company designated by the government, the marketing business which provides integrated solutions in the digital and real fields, and the investment and incubation business for promising companies around the world. Founded on the knowledge and expertise it has developed in this way and on its global network, DG will work together with the Bank of Yokohama (one of the most prominent banks in the Kanto area) to promote open innovation by financial institutions and create new financial and non-financial services required for the new normal.
【Outline of this fund】
|Fund name||Hamagin DG Innovation Fund
(Name: “Hamagin DG Innovation Fund Investment Limited Partnership”)
|Operator||DG Incubation, Inc.|
|Fund size||3 billion yen|
|Operation period||8 years|
|Investees||Startups and other companies with good future prospects that have digital technologies and services that contribute to open innovation by financial institutions, or innovative platforms that invigorate regional economies|
* This press release is not intended to offer any investment operation services and specific operation products by DG and the Bank of Yokohama. DG and the Bank of Yokohama are not calling for any participation in the “Hamagin DG Innovation Fund” through this press release.