Singapore – SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, plans to open an office in Abu Dhabi Global Market (ADGM), the International Financial Centre of the Capital of the United Arab Emirates (UAE), to tap into the region’s vibrant technology and business innovation ecosystem, venture building capabilities and access to local talent. Gautam Jain, member of SC Ventures, is slated to lead the new Abu Dhabi office. This announcement follows SC Ventures’ partnership with SBI Holdings, a Japanese financial conglomerate, to set up a Digital Asset joint venture investment company in the UAE. 

“UAE’s global tech ecosystem experienced a 134% growth in Ecosystem Value — the sixth fastest globally and the biggest in the Middle East and North African region. SC Ventures sees strong opportunities in the regions’ potential to help rewire the DNA in banking through its top-notch talent and capabilities in venture building and investment mandate — specifically in the areas of fintech, digital assets and data,” Jain said. “In Q3 2023, ADGM’s assets under management (AUM) increased 52% from Q3 2022. This remarkable growth has solidified ADGM’s reputation as a trusted financial hub. SC Ventures looks forward to tapping into this community of innovation as we continue to rewire the DNA in banking to best serve clients and meet society’s needs.” 

A 30-year banking technology veteran, Jain serves as the chairman of two SC Ventures portfolio companies in addition to several other board memberships. In 2018, Jain joined SC Ventures after a 7-year career with Standard Chartered Bank as Global Head of Client Access and Digitization. He has held several senior positions at Barclays, HSBC and Citigroup, based in Singapore, London and India.  

"We are pleased to see additional international financial institutions choosing ADGM and Abu Dhabi as their home for business development and regional growth. We welcome SC Ventures’ strategic decision, and we look forward to witnessing its positive contributions to the financial ecosystem as well as working with broader eco-system including Hub 71, the venture capital community in ADGM and beyond, as it continues to thrive and expand its business operations and services offerings,” said Arvind Ramamurthy, Chief of Market Development at ADGM. 

Once the UAE’s office is established, Jain will lead the office to engage the fintech and startup ecosystem in Abu Dhabi and the region; identify venture-building capabilities and partnerships with UAE’s venture capital community; invest in promising growth opportunities, collaborate with local universities and explore new technologies and business trends. The ADGM office will follow SC Ventures’ four high-conviction themes: 

  1. Online Economy & Lifestyle — supporting the digital lifestyle of new economies through alternate business models 
  2. Digital Assets — leveraging emerging technologies to create safe, compliant and robust digital assets infrastructure 
  3. SMEs & World Trade — ensuring SMEs’ inclusion in the global economy and world trade through access to financial systems 
  4. Sustainability and Inclusion — integrating sustainability and financial inclusion into new business models 

“ADGM is a hotbed of innovation as the UAE is methodically building the ecosystem, aiming to develop more than 8,000 SMEs and startups by 2030 and with the goal of creating 20 startups valued at more than US$1 billion by 2031 as part of its Entrepreneurial Nation initiative. We are excited to join and will contribute to the best of our abilities, as we continue to build our portfolio of ventures to rewire the DNA of banking and financial services in the region,” said Alex Manson, CEO, SC Ventures.   

For further information: 
Chi-an Chang 
PR & Comms Lead, SC Ventures  
Chian.Chang@sc.com 

About SC Ventures  

SC Ventures is a business unit that provides a platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.  

For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn. 

About Standard Chartered 

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. 

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges. 

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