Japanese bank Nomura has announced plans to establish a new office in San Francisco, equipped with $100 million to invest in Silicon Valley tech startups.

Serving as a hub for global collaboration between Nomura, Silicon Valley startups and venture capital firms, the new office will explore next-generation businesses and cutting-edge technologies.

Nomura said it will leverage these technologies to further enhance its existing businesses and transform the way it operates. The firm will also pursue co-investment and business collaboration opportunities across industries with clients in Japan, Asia and around the world.

The bank set up a cross-divisional FinTech Committee in 2015, focused on maximising the use of both internal and external technology resources for its business strategy. Nomura also established a financial innovation office in Tokyo, tasked with further enhancing the promotion and support of the firm’s businesses through innovation in financial services.

These two initiatives were followed by the 2017 launch of the firm’s Voyager accelerator programmes in Japan and India, and the establishment of N-Village, an innovation lab aimed at promoting innovation and new businesses.

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