Credit Saison, a Japan-based venture capital firm, has launched a new $50 million fund called “Onigiri Capital” through its Singapore-based subsidiary. The fund will focus on investing in blockchain startups in the financial sector. Onigiri Capital will target early-stage companies in five key areas: stablecoins, payments, asset tokenization, decentralized finance (DeFi), and financial infrastructure.
The fund aims to address the challenge of financial inclusion, primarily operating in India, Southeast Asia, and Latin America. The investment team for Onigiri Capital includes Qin En Looi, Partner at Saison Capital, who has led over 40 blockchain investments, and Hans de Back, who brings more than 20 years of experience as an entrepreneur and venture capitalist. Credit Saison’s overseas corporate venture capital (CVC) has been investing in promising startups, mainly in the Asian FinTech sector, since 2019.
In 2021, the firm expanded its focus to include blockchain technology.
Boosting blockchain startups globally
The fund has already secured $35 million of its $50 million target.
By attracting external investors and maximizing the use of investment capital, Credit Saison plans to expand its investment scale and diversify its portfolio. Credit Saison aims to build trust in blockchain technology and advance its development by leveraging its network with traditional financial institutions and regulators. The firm believes this approach will enhance global recognition and expand the business of the Credit Saison Group.
“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,” said the firm in a statement. The launch of Onigiri Capital marks Credit Saison’s first global business initiative aimed at diversifying funding sources to support growth and innovation in the blockchain space. The fund’s establishment reflects a growing trend of connecting Latin American startups with Asia’s institutional investors to foster innovation and accelerate growth.