MUFG Bank (NYSE:MUFG) recently revealed that it intends to invest as much as $300 million in middle- to late-stage Indian startups via the newly established MUFG Ganesha Fund.
In the foreseeable future, MUFG stated that it would plan to strategically leverage its group strengths in order to offer an extensive range of financial services to its portfolio firms.
MUFG has been focused on initiatives in the region since positioning the capture of ongoing Asian growth, responding to the digital transformation efforts, while regularly contributing to environmental and social issues (outlined as key priorities and strategies).
This reportedly includes efforts like creating a business platform via investments in partner banking institutions as well as supporting startups through Mars Growth Capital, a joint initiative between MUFG Bank and Israeli Fintech Liquidity Capital.
MUFG’s management noted:
“We will further contribute to the development of new industries and the sustainable development of local communities by financially supporting the growth of startups in India. Through the fund, MUFG will also drive collaboration with promising companies in the areas of tech and IT, and explore new business opportunities.”
As covered, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the leading financial groups.
With head offices in Tokyo and with over 360 years of history, MUFG has “a global network with approximately 2,500 locations in more than 50 countries.”
The Group has “about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.”
The Group aims to be the “most trusted financial group” through close collaboration among their operating companies.
The firm claims that it flexibly responds to “all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world.” MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
As reported in December 2021, BNP Paribas, China Construction Bank (Asia), DBS, MUFG, Societe Generale and Standard Chartered had all joined the iLex platform to “accelerate the digitization of corporate loan markets.”
The 6 global syndicated loan book runners joined iLex as partner banks in order to support “innovation in loan capital markets,” according to a release shared with Crowdfund Insider.
iLex was incorporated in 2019 and officially “launched its electronic corporate loan market in January this year.”