Japan Post Bank says it will invest 10 billion yen, or about 65 million dollars, in a fund to support startups that aim to revive struggling regional economies.

The fund was jointly launched with investment firm Spiral Capital. Approved startups will each be eligible for as much as 6.5 million dollars in funding.

Japan Post Bank official Yamaguchi Akira said, "We will actively support regional revitalization and other efforts that contribute to the Japanese economy."

Japan Post Bank had outstanding deposits of around 1.3 trillion dollars as of the end of last year. It has mainly managed its assets in domestic and foreign stocks and bonds, but now plans to place more money in investment funds.