Japan-based venture capital firm Credit Saison has established “Onigiri Capital,” a fund specializing in blockchain investments, through its Singapore-based subsidiary, overseas corporate venture capital (CVC).

The fund said in a statement on Tuesday that its global business aims to achieve financial inclusion, a universal social challenge, primarily operating in India, Southeast Asia, and Latin America area through lending and investment activities.

The fund will support fundraising for blockchain startups in the financial sector, focusing on five key areas: stablecoins, payments, asset tokenization, decentralized finance (DeFi), and financial infrastructure.

It will primarily invest in early-stage companies, selecting promising portfolio companies through rigorous screening by our experienced investment team, emphasizing alignment with the fund’s strategy and long-term growth potential.

The fund is targeting an investment scale of $50 million, with $35 million already secured at this stage.

Established in 2019, Saison Capital’s overseas CVC invests in promising startups, primarily focusing on Asian FinTech companies.

Since 2021, it has expanded its investments to include startups in the blockchain space, with a focus on startups using blockchain technology to create financial products and services.

Leveraging its accumulated experience and insights from previous investments in the blockchain domain, the firm launched this fund to bring other financial institutions who are keen to invest in blockchain.

Through this fund, the firm aims to contribute to the transformation of the financial sector from a med-to-long-term perspective by supporting the fundraising efforts of startups driving innovation through blockchain technology.

This fund establishment marks the firm’s first initiative within its global business and is viewed as part of diversifying funding sources to support business growth and innovation.

By attracting external investors through this fund and maximizing the utilization of their investment capital, the firm aims to expand its investment scale and diversify its portfolio.

With its experience and insights into blockchain investment cultivated through its overseas CVC activities, and its established network with traditional financial institutions and regulators, the firm will contribute to building trust in blockchain technology and advancing cutting-edge technological development.

The fund’s investment team comprises experienced and accomplished members, including Qin En Looi, Partner at Saison Capital who has led over 40 blockchain investments, and Hans de Back, who brings over 20 years of experience as an entrepreneur and venture capitalist.

“Moving forward, while navigating the unpredictable and unstable global environment, we will pursue a unique strategy that achieves both long-term business growth and social impact through resilient management,

“This approach aims to enhance global recognition and expand the business of the Credit Saison Group,” said the firm.

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