SC Ventures, a subsidiary of Standard Chartered Bank, plans to raise $250 million for its new fund in the digital asset space

ChainCatcher news, according to Bloomberg, Standard Chartered Plc's venture capital arm SC Ventures is planning to raise funds for a $250 million fund that focuses on investing in digital assets in the financial services sector.

Gautam Jain, a member of SC Ventures, stated on Monday during the first Money 20/20 fintech event in Riyadh that the fund is set to launch next year, with support from some investors in the Middle East, and is looking at global investments. Jain mentioned that the division also plans to launch a $100 million Africa investment fund and is considering the launch of its first venture debt fund, but did not specify whether these funds would also focus on digital assets or fintech.

Jain also noted that this year the division is increasing its investment in the Middle East, having launched operations in Saudi Arabia in January. Its strategy is to build a team focused on the Saudi market and to launch a domestic fund in 2026 that will concentrate on minority equity investments in companies and new business development.