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Daiwa Securities, Digital Garage launch ¥200 billion AI fund

Daiwa Securities Group Inc. and Japanese tech firm Digital Garage Inc. launched a ¥200 billion investment fund for startups in artificial intelligence, blockchain, virtual and augmented reality, cybersecurity and biotechnology.

Daiwa said in an Aug. 30 release that the new fund, DG Lab Fund II, follows upon the DG Lab Fund I, also launched by Daiwa and Digital Garage in 2016 and focusing on the same fields.

As of Aug. 29, US$1 was equivalent to ¥106.51.