Mizuho Says Latest Debt Fund for Startups Raises $97 Million

Mizuho Financial Group Inc. raised ¥14.3 billion ($97 million) for its latest startup fund, as Japanese banks delve deeper into arranging credit for new ventures.

The Tokyo-based lender said in a statement Wednesday that the fund, co-managed with payments startup Upsider Inc., closed with investment from seven Japanese financial institutions including Sumitomo Mitsui Trust Bank Ltd. and Fukoku Mutual Life Insurance Co.