Japanese financial services group Credit Saison has introduced a new investment vehicle called Onigiri Capital, aimed at backing early-stage blockchain companies. The initiative is particularly focused on helping US-based startups expand into Asia by offering capital, infrastructure support, and regulatory expertise. By leveraging Credit Saison’s regional presence and local knowledge, the fund intends to ease the complexities of cross-border growth for blockchain founders.
The fund has so far raised $35 million and is targeting a final close of $50 million. Contributions have come from Credit Saison itself alongside other strategic investors. Onigiri Capital will prioritize investments in projects that are building essential financial tools, including tokenization platforms, innovative payment systems, and blockchain solutions that bridge traditional and digital finance.
Focus Areas for Investment
According to the fund’s strategy, emphasis will be placed on startups working with real-world assets, digital payments, and decentralized finance applications. These are sectors where emerging companies frequently encounter challenges with scaling and regulatory compliance. Onigiri Capital aims to mitigate these issues by offering both financial backing and regional guidance, giving startups a smoother entry into countries such as Japan, Singapore, and Indonesia.
A central goal of the initiative is to help American blockchain companies establish themselves in Asia. While many US-based firms develop strong products, they often face obstacles when entering new jurisdictions. Onigiri Capital intends to provide practical support through partnerships with banks, assistance in navigating legal frameworks, and operational advice to reduce the risks associated with expanding into highly regulated markets.
Guided by Experienced Partners
The fund is being led by partners from Saison Capital, including Qin En Looi, who highlighted the focus on working with entrepreneurs committed to solving real problems rather than pursuing short-lived trends. Another managing partner, Hans de Back, noted that the team is placing strong emphasis on legal structures and compliance, ensuring that portfolio companies are positioned to scale responsibly.
Market Context and Industry Challenges
The launch of Onigiri Capital comes during a period of caution in the broader crypto investment space. While 2022 saw large flows of capital into blockchain startups, the past year has been marked by more selective funding and a greater demand for demonstrable value. In this environment, a fund that combines capital with operational and regulatory support is positioned as a valuable resource.
Expanding internationally remains a challenge for blockchain ventures. Each country enforces unique regulatory frameworks, particularly around digital assets, stablecoins, and financial services. Startups must contend with licensing requirements, audits, and ongoing compliance obligations. Onigiri Capital seeks to reduce this burden by providing a partner experienced in navigating these systems, effectively lowering barriers to market entry.
Shaping the Future of Digital Finance in Asia
Credit Saison is not approaching this initiative solely as an investor but as a strategic partner offering access to its extensive financial network and knowledge of both traditional finance and emerging technologies. If the fund succeeds, it could set a precedent for how established financial institutions support blockchain innovation without stifling it.
The effectiveness of Onigiri Capital will ultimately depend on the quality of its investment choices and the depth of support provided to startups. If it delivers on its vision, the fund could become a model for cross-border collaboration and play a role in shaping the future of digital finance across Asia.
