Standard Chartered's subsidiary SC Ventures is looking to invest around $100m in fintech startups based in the Middle East and Africa .
SC is talking with potential partners that would match the $100m commitment to invest in the MENA fintech scene.
"We are now working on at least three ventures [start-ups] that could involve partnerships and third party investments," Alex Manson, the head of SC Ventures told local news outlet The National.
I anticipate that at any point in time we will have 10 to 15 ventures in our portfolio"
Standard Chartered has already partnered with PCCW, Hong Kong Telecom Trust and Ctrip Financial Management to launch a new digital-only retail bank in Hong Kong, which was among the first to receive a licence to operate from the Hong Kong Monetary Authority.
Manson has met some of the bank's strategic clients and investors in the UAE and sees potential investments in the second-biggest Arab economy.
"This place is ready," he said. "There's lots of ideas and energy behind financial innovation in this market ... there are a number of things we want to follow up in the UAE" in terms of deals, he added.
The lender, Manson said, is looking to co-invest in startups across its footprint of Asia, Africa and the Middle East.
"I anticipate that at any point in time we will have 10 to 15 ventures in our portfolio [in different stages of growth] … But we are at an early stage of building that portfolio," he said, declining to specify the total amount of funds earmarked for investments in ventures.