The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Sumitomo Mitsui Banking Corporation, Incubate Fund
Sumitomo Mitsui Banking Corporation has co-founded the corporate venture capital fund, known as SMBC Asia Rising Fund. The entity has been launched with Incubate Fund in Singapore.

The fund was set up to tap into SMBC’s network and Incubate Fund’s expertise in startup investments that IF has accumulated through its investment activities in India and Southeast Asia.

The fund has an investment period of 10 years; with $200 million of assets. It will invest in sectors such as lending tech; payment, supply chain finance, digital assets, and banking-as-a-service.

Since it was set up 2010, Incubate Fund has invested in more than 450 startups.