Japanese government-backed firm to invest $50m in iSTOX

Economy & Politics | Funding | South East | Technology

Global digital securities platform iSTOX announced today that two government-backed investors in Japan have concluded an agreement to invest in the company, as iSTOX closed its Series A funding round with a total of $50m raised.

The two investors are: the venture capital arm of Japan Investment Corporation (JIC), or JIC Venture Growth Investments (JIC-VGI), and Development Bank of Japan Inc (DBJ), which is a financial institution wholly owned by the Japanese Government. Also joining iSTOX as new investors are Japan’s Juroku Bank and Mobile Internet Capital (MIC), a venture capital firm.

In this latest round of financing, existing investors Singapore Exchange (SGX), Japan’s Tokai Tokyo Financial Holdings and Korea’s Hanwha Asset Management also made fresh investments. Other existing investors of iSTOX include Temasek Holdings subsidiary Heliconia Capital Management and Thailand’s Kiatnakin Phatra Financial Group.

Founded in 2017, iSTOX is a financial technology company firm focused providing a multi-asset platform for the issuance, custody and secondary trading of digital securities.

Oi Yee Choo, Chief Commercial Officer of iSTOX, said: “The support of government-backed investors JIC-VGI and DBJ as well as other new investors in this round signals a rising confidence in the iSTOX digital securities platform and our business model. Existing shareholders SGX, Tokai Tokyo and Hanwha have also added to their holdings, which shows that investors who have engaged with iSTOX for some time continue to have strong conviction in our mission and our potential.”

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