Japanese firms Nomura and SBI plan to work together to invest venture capital funds in crypto tokens for startups, the Nikkei reported.
A quote best summed up the rationale. “If we don’t have the means to invest in tokens, we will not be able to invest in Web3 companies that mainly raise funds with tokens,” said Takeshi Goto, an EVP at SBI Investment, a venture subsidiary that also plans to set up a fund to invest in tokens this year.
In other countries, it’s now common for venture capital firms to invest in startup cryptocurrency tokens either in addition to equity or instead of it. A16z crypto, part of Andreessen Horowitz, is the highest profile and recently raised a fourth crypto fund of $4.5 billion. Its previous crypto funds totaled $3.1 billion.
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