Investment bank Nomura has decided to set up a $92 million fund to assist start-ups, a senior official said. In a statement issued here on Wednesday the firm also said that it has commenced the ‘Voyager – Nomura FinTech Partnership’ in India aimed at harnessing emerging technologies to help transform its businesses and services.
The investment bank has already backed one of Asia’s largest fin-tech-focused VC funds based out of Hong Kong, and it would explore investing in similar funds based in India, Nikhil Mehta, fin-tech lead and executive director at Nomura Services India, said.
Nomura on Wednesday launched ‘Voyager Nomura FinTech Partnership’, a global accelerator-cum-creation platform to collaborate with startups for building solutions for capital markets and investment banking that can be deployed across Nomura and the financial industry.
“Nomura has already gained momentum in FinTech with the launch of Financial Innovation Office globally, an accelerator program in Japan, and the establishment of N-Village, a wholly-owned subsidiary, to promote new business development and open innovation. We also plan to create a new 10 billion yen fund to provide financial support to start-ups. The Voyager initiative in India is a further sign of our commitment to engage with start-ups and encourage financial innovation,” said Yo Akatsuka, Senior Managing Director, Innovations, Nomura Holdings, Inc.