Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.Citi Ventures, the corporate venture capital arm of Citibank, has celebrated its 15th anniversary with over 200 investments and 30 exits. Founded in 2010 by Arvind Purushotham, who transitioned from Menlo Ventures, Citi Ventures has become a formidable presence in the Wall Street corporate venture landscape. This evolution is particularly notable as technologies like AI and blockchain continue to disrupt financial services. While headquartered in Palo Alto, California, rather than New York, Citi Ventures has embraced a Silicon Valley mindset, aiming to blend venture capital expertise with Citibank's strategic goals.Citi Ventures is tasked with balancing financial returns from IPOs and M&A with strategic investments that benefit the parent bank. Although specific financials and investment figures remain undisclosed, it is known that Citi Ventures operates from the bank's balance sheet. The firm has been notably active in recent years, making 26 investments in the current year alone.Despite challenges such as potential acquisition interests from competitors like Mastercard and Coinbase, Citi Ventures often collaborates with other corporate venture capital firms from financial giants like American Express. The firm's investment strategy includes both developing technology internally and seeking unique opportunities in startups for potential partnerships. For example, its investment in Plaid demonstrates this strategy—Plaid has become a crucial partner for banks while advocating for open banking policies.With a lean team of 16 investors spread across global tech hubs like Silicon Valley, New York, Tel Aviv, and Singapore, Citi Ventures operates more like a traditional venture capital firm than a typical Wall Street entity. Yet, backed by Citibank's vast resources and workforce of 230,000 employees, it has carved out a unique niche within Silicon Valley. Citi Ventures aims to forge strategic partnerships that support Citibank's technological evolution while generating substantial returns.Turning our attention to recent developments in technology as of October 27, 2025. One significant focus is on TikTok as the U.S. and China are reportedly nearing a deal concerning the U.S. arm of ByteDance's TikTok service. Treasury Secretary Scott Bessent announced that terms have been agreed upon, with confirmation anticipated at the upcoming APEC summit in South Korea.Meanwhile, in Australia, Microsoft faces legal action from the Australian Competition and Consumer Commission for allegedly misleading consumers about subscription prices that included its AI assistant, Copilot. The lawsuit seeks penalties and redress with potential fines reaching up to 50 million Australian dollars.In Southeast Asia, tech giant Grab is making strategic moves by investing in May Mobility, a U.S.-based autonomous vehicle technology company. This partnership aims to introduce robotaxis in Southeast Asia by 2026.Other notable tech trends include challenges in developing robot hands and possible corporate changes at AI chip startup SambaNova due to fundraising difficulties. In cryptocurrency news, Kyrgyzstan has launched a national stablecoin with Binance's assistance.Shifting gears to geopolitical and economic developments: The Fortune Global Forum in Riyadh highlights Saudi Arabia's progress a decade into its Vision 2030 economic transformation plan. The non-oil sector now constitutes 56% of its 1.3 trillion dollar economy. Significant investments in AI infrastructure are part of this strategy as Saudi Arabia positions itself as a hub for various industries.In geopol

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