Sumitomo Mitsui Banking Corporation has approved a $20 million commitment to Vertex Master Fund II, a venture capital fund of funds managed by Vertex Venture Holdings.
The fund, which has raised $730 million of capital, aims to invest in venture funds focused on businesses in the consumer, healthcare and technology industries.
Development Bank of Japan and Marubeni Corporation are also investors in Vertex Master Fund II.
Earlier this year, SMBC committed an undisclosed amount to Innovation Growth Fund I, a venture capital/growth equity fund from Innovation Growth Ventures.
Tokyo-based SMBC typically makes fund commitments of $10 million to $50 million.
This story was written by Raymond Lau and first appeared in VCJ sister publication Private Equity International. Lau can be reached at email@example.com.