A new venture capital fund focused on blockchain investments has been launched by Japan-based Credit Saison through its Singapore subsidiary. Dubbed “Onigiri Capital,” the fund aims to tackle the issue of financial inclusion across several regions, particularly focusing on India, Southeast Asia, and Latin America. The announcement was made via a statement from the fund, highlighting its mission to address this universal social challenge primarily through strategic lending and investment activities.
Onigiri Capital is set to support the fundraising efforts of blockchain startups, specifically within the financial sector. The fund has identified five key areas of investment: stablecoins, payments, asset tokenization, decentralized finance (DeFi), and financial infrastructure. Its strategic focus will predominantly be on early-stage companies, which will be selected by a rigorous screening process conducted by an experienced investment team. This team will prioritize alignment with the fund’s strategic objectives and the long-term growth potential of the selected companies.
With a targeted investment scale of $50 million, the fund has already secured $35 million at its inception. Established in 2019, Saison Capital’s overseas corporate venture capital has been actively investing in promising startups, particularly in the Asian FinTech landscape. Since 2021, the firm has broadened its investment scope to include blockchain startups that are utilizing technology to enhance financial products and services.
By leveraging its previous investments and insights in the blockchain space, Onigiri Capital aims to attract other financial institutions interested in blockchain investments. The fund is not only seen as a step toward enhancing business growth but also as a way to diversify funding sources for innovation in the sector.
The firm plans to utilize external investors to maximize investment capital, thereby expanding its overall investment scale and broadening its portfolio. Coupled with its experience and established networks with traditional financial institutions and regulators, Onigiri Capital is set to contribute significantly to building trust in blockchain technology while fostering advancements in this field.
The investment team behind Onigiri Capital comprises seasoned professionals, including Qin En Looi, a partner at Saison Capital recognized for leading over 40 blockchain investments, and Hans de Back, who has more than two decades of experience as an entrepreneur and venture capitalist.
As the firm navigates a dynamic and sometimes unstable global environment, it aims to implement a unique strategy that balances long-term business growth with social impact. This dual approach is expected to enhance global recognition and foster business expansion within the Credit Saison Group. Furthermore, collaborations such as the recent partnership between DBS and Franklin Templeton with Ripple on tokenized fund solutions demonstrate a growing trend of integrating blockchain technology into financial services.
