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SC Ventures, the fintech investment and ventures arm of Standard Chartered, will open an office in Abu Dhabi Global Market (ADGM), the second UAE investment by the bank within months.
Standard Chartered announced in November that it was to launch a digital asset joint venture investment company in the UAE in partnership with Japanese financial conglomerate SBI Holdings.
The latest launch, a new venture and investment office, will be led by Guatam Jain, who said the firm plans to tap into ADGM’s reputation as a trusted financial hub, following annual growth of assets under management (AUM) of 52% in the third quarter of 2023.
Jain joined SC Ventures in 2018, having previously served as global head of client access and digitisation for Standard Chartered, and prior to that at Barclays, HSBC and Citigroup in Singapore, London and India.
The venture outfit will be engaging in the fintech and startup ecosystem as well as identifying capabilities and partnerships with the UAE’s venture capital community as well as investing in growth opportunities, collaborating with local universities and explore new technologies and business trends, a statement said.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
