Mitsubishi-UFG, Japan's largest banking group, together with Danamon, a leading Indonesian bank, has formed a fund to invest in Fintech startups in the Indonesian area.The size of the fund will be $100 million.

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The fund will be funded by UFJ Innovation Partners, a subsidiary of MUFG, which has invested in more than 40 Fintech startups through two funds.

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Through this fund, the company will accelerate its investment in Indonesia, the largest digital economy market in the Association of South-East Asian Nations (ASEAN).

The fund will invest in Fintech startups that are expected to have synergy with Danamon Bank.

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Source: https://www.ip.mufg.jp/ja/news/三菱-ufj-イノベーション・パートナーズ・ガルーダ1/

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