MUFG’s core banking subsidiary MUFG Bank today announced it has increased its LP Commitment to Republic of Singaporebased Mars Growth Capital Fund 1, LP (the Fund) from USD 80 million to USD 200
million.
MUFG Bank entered into a Joint Venture Agreement with Liquidity Capital M.C. Ltd.
(Liquidity Capital), an Israeli fintech company, in August 2020. Based on this
agreement, both parties established a joint venture, Mars Growth Capital Pte. Ltd.
(Mars Growth Capital)[1] and the Fund where Mars Growth Capital acts as a general
partner and MUFG Bank acts as a limited partner[2]. The Fund provides debt financing
to startup companies mainly in the Asia Pacific region utilizing Liquidity Capital’s
advanced AI technology.
Since the business began operations in December 2020, the Fund has realized large
demand for funding from startup companies, resulting in 6 loan agreements as of the
end of July 2021. Based on the potential opportunity for business expansion, MUFG
Bank has increased its LP Commitment to USD 200 million.
Since the start of the COVID-19 pandemic, digital shifts in society continue to
accelerate, and online services are becoming more common in the Asia Pacific region.
In addition, many startup companies have emerged that are utilizing digital technology
to solve social issues. Through increasing its LP Commitment to the Fund, MUFG Bank
will not only support the growth of startup companies by providing debt financing, but
also continue its strong commitment to enhancing convenience of life and solving social
issues.
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