Sumitomo Mitsui Financial Group shares rise 1.19% after-hours after establishing a $300 million corporate venture capital fund.

Sumitomo Mitsui Financial Group, Inc. rose 1.19% in after-hours trading, with the company announcing the establishment of the SMBC Fin Atlas Beyond Fund, a corporate venture capital fund focused on investing in U.S.-based financial technology startups. The fund, with an initial $300 million, marks the commencement of SMBC's corporate venture capital activities in collaboration with Fin Capital.