SBI Holdings and SNBL to jointly establish a new USD 40m US-domiciled fund
SBI Holdings and Shin Nippon Biomedical Laboratories (SNBL) have agreed to establish a joint fund targeting early-stage startups in North America.
1. Purpose and background of establishment
The purpose of jointly establishing this fund is to utilize the extensive knowledge and experience of both SBI Group and SNBL Group by providing funds through equity investments to early-stage startup companies in North America. The two companies already announced an alliance for a startup incubation business in the United States on July 31, 2024, and as part of the partnership, this joint fund has a goal of providing financial support to promising companies at an early stage.
2. Outline of the Joint Fund
3. Expected effects of establishment of the joint fund
By using the business incubation facility in Washington State, USA, as a base of investment operations, SNBL and SBI Holdings expect to expand their network with potential local joint venture partners, discover and develop new investment targets, and acquire new investment opportunities from local inner circles. The companies also expect that synergies between the startup incubation business and the Joint Fund will strongly enhance the value of portfolio companies and further maximize fund performance (see title graphic).
4. Future Outlook
Both SBI Group and SNBL Group will continue to strive to discover new business opportunities in the U.S. market. The companies will actively contribute to the development of the global biotechnology and drug discovery ecosystem and the nurturing of industries spearheading the next generation.