Credit Saison, Japan’s third-largest credit card issuer, has launched a $50 million investment vehicle named Onigiri Capital to assist startups focused on blockchain-based real-world asset applications.
Managed by its venture arm Saison Capital, the fund has already secured most of its target from both internal and external investors. This initiative highlights the increasing connections between US blockchain developers and Asia’s financial markets.
Credit Saison Expands into Blockchain
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Credit Saison has expanded its venture efforts by launching Onigiri Capital, a fund focused on blockchain and real-world asset (RWA) projects. The fund, overseen by partners at Saison Capital, has raised around $35 million thus far and aims to close at $50 million.
The Tokyo-based financial group plans to focus on early-stage startups that develop payment tools, tokenization, stablecoins, decentralized finance, and other economic infrastructures. The strategy prioritizes businesses that link US founders and developers with Asian markets, where the demand for RWA innovation is growing.
Fund managers noted that Asia is becoming increasingly important in blockchain finance, remarking that many US startups face difficulties navigating regulatory and institutional frameworks in the region. Onigiri Capital aims to offer access to local networks in markets such as Japan, Singapore, Indonesia, Korea, Malaysia, and the Philippines.
The fund intends to collaborate with other venture capital providers, aiming to stand out through regional expertise and established distribution channels. By merging capital with regulatory insight and banking connections, the fund serves as a bridge for companies looking to expand internationally.
Industry Context and Market Outlook
Credit Saison is publicly traded on the Tokyo Stock Exchange (8253.T), operates in financial services, real estate, and entertainment, and has a credit card division. Its stock recently traded at ¥3,913 ($26.6), within a 52-week range of ¥2,781 ($18.9) to ¥4,269 ($28.9).
The fund’s launch coincides with ongoing challenges in crypto venture funding. Higher interest rates and the repercussions of significant corporate failures like FTX have impacted investor sentiment, even as cryptocurrency prices start to recover.
Nevertheless, interest from investors in financial services, DeFi projects, and real-world asset applications remains strong. The establishment of Onigiri Capital indicates a confidence that this segment will continue to be vital in blockchain development despite broader market uncertainties.
