On July 31, 2024, SNBL and SBI Holdings announced a business alliance for business incubation operations in the U.S., and as part of this alliance, the SBI US Gateway Fund (hereinafter “Joint Fund”) was established in September 2024. On November 20, 2024, it was announced that Plug and Play signed a partnership with the Joint Fund.

As the world’s largest innovation platform, Plug and Play’s participation in the Joint Fund is expected to provide strategic growth opportunities for portfolio companies of the Joint Fund by leveraging its extensive global network and innovation expertise to provide guidance and support.

As part of its participation, Plug and Play established its first two US bases in Seattle with one being located within SGG and the other at the University of Washington.

For more details on the Joint Fund and these three companies, you can find the press release here.