Shoko Chukin invested $20 million in US VC firm Sozo Ventures to promote collaboration between AI start-ups and small and medium-sized Japanese companies. It also plans to sell shares it acquired at the time of privatization to private-sector buyers, strengthen its financial capacity and expand support for small and medium-sized enterprises beyond lending.
The Shoko Chukin Bank invested $20 million in Sozo Ventures, which invests in US-based AI start-ups. The aim is said to be promoting collaboration among small and medium-sized companies in the AI sector by connecting its investment recipients with Japanese companies.
It plans to sell its own shares to private-sector buyers upon privatization to strengthen its financial capacity, and to expand support services for small and medium-sized enterprises beyond lending. It is reported to be preparing a structure to strengthen support for small and medium-sized companies going forward.
It is also expected to advance initiatives to send small and medium-sized business executives to Silicon Valley. Through cooperation with Sozo Ventures, it is described as working to link the technology of its investment recipients with the business operations of Japanese companies.