PANews reported on September 16th that Bloomberg News reported that Standard Chartered Plc's venture capital arm, SC Ventures, plans to raise funds for a $250 million fund focused on investing in digital assets in the financial services sector. Gautam Jain, an operating member of SC Ventures, stated on Monday on the sidelines of the inaugural Money 20/20 fintech event in Riyadh that the fund, planned for launch next year, will be backed by selected investors in the Middle East and will focus on global investments. Jain stated that the unit also plans to launch a $100 million African investment fund and is considering launching its first venture debt fund, but did not specify whether these funds would also focus on digital assets or fintech.

Jain also said the unit is increasing its investment in the Middle East this year, launching operations in Saudi Arabia in January. Its strategy is to build a team dedicated to the Saudi market and launch a domestic fund in 2026, focusing on minority investments in companies and new business development.