Mitsubishi UFJ Financial Group Inc (MUFG) will launch a new $300 million fund to offer debt financing to late-stage tech startups in the Asia-Pacific region, its chief executive said, as Japan’s largest lender seeks to tap opportunities in growing economies.
The move comes amid a fundraising frenzy in Asia as the number of unicorns, or privately held startups with a valuation of more than $1 billion, has swelled.
