Daiwa Securities SMBC Principal Investments and Quantum Leaps have agreed to set up a private equity joint venture in Japan to be named Daiwa Quantum Capital Limited, with the goal of launching a co-investment growth fund.
The establishment of the JV is expected to be completed in early April, after which time the fund will be offered to domestic and overseas institutional investors. Daiwa SMBC will hold a 51% stake in the JV, while the rest will be held by Quantum Leaps.
The private equity fund hopes to raise 30 billion $307 million. It plans to invest in technology-oriented companies in Asia with high-growth potential.