Saison Capital, the venture arm of Credit Saison, one of Japan's largest non-bank financial companies listed on the Tokyo Stock Exchange, launches Onigiri Capital . Onigiri Capital is a $50 million blockchain investment fund positioning itself as the premier institutional-grade bridge between U.S. innovation and Asia's established blockchain and financial networks for founders to build global financial products. The fund, which has secured $35 million to date, focuses on start-ups building real-world asset solutions across five key sectors: stablecoins, payments, tokenized assets, DeFi, and financial markets infrastructure.
The launch comes as blockchain venture capital funding rebounds, reaching its highest levels this year since 2022. Real-world asset tokenization is expected to reach $10 trillion in market value by 2030, with major institutions such as BlackRock and Goldman Sachs in the U.S., and MUFG and Bank of China in Asia, already taking steps to integrate blockchain into their traditional finance infrastructure. The fund's institutional backing provides portfolio companies with access to major distribution channels, regulatory expertise, and established credibility to accelerate time-to-market across multiple jurisdictions.
Co-led by Managing Partners Qin En Looi (Partner, Saison Capital) and Hans de Back, Onigiri Capital combines the extensive experience of both partners in early-stage investments across fintech with their leadership in digital assets. It also leverages the Credit Saison Group's decades-deep network, along with a growing network of financial institutions across multiple Asian markets, including Japan, Korea, Singapore, Malaysia, Indonesia, and the Philippines, to provide portfolio companies with direct access to the banks, asset managers, and insurance firms that serve hundreds of millions of customers across the region.
"The center of gravity for real-world asset innovation is shifting, and Asia's role is growing at an exponential rate," says Qin En Looi, Managing Partner of Onigiri Capital and Partner, Saison Capital. "We saw a critical gap in the U.S. market: an absence of the specialized expertise needed to navigate and succeed in dynamic Asian markets such as Japan, Korea, Indonesia, and Singapore. Our institutional background and deep roots in the region instantly provide a launchpad for U.S. founders and developers to drive real progress at scale and speed."
Onigiri Capital's Looi has been heavily involved in regulation and policy, co-authoring whitepapers focused on asset tokenization and regulation in multiple countries, including Project Wira, which led to the launch of Tokenize Indonesia, piloting 80+ tokenization startups with four of Indonesia's top banking and technology institutions. Looi also organizes ONCHAIN , Asia's first annual conference dedicated to real-world assets and connecting startups to global financial institutions and corporate partners essential for growth and adoption. Hans de Back brings decades of experience driving and expanding innovation ecosystems in Southeast Asia, specializing in the region's development of new tech-enabled companies, with a focus on early-stage investment rounds.
"Trust in blockchain needs external validation and a proven track record," says Hans de Back, Managing Partner of Onigiri Capital. "We're here to complement existing product investors by offering founders the best of both worlds - Silicon Valley's innovation combined with Asia's institutional validation - and provide the expertise needed to originate high-quality solutions that meet institutional, global finance standards."
About Onigiri Capital
Onigiri Capital is a venture capital fund launched by Saison Capital, the corporate venture arm of Japan's Credit Saison. Onigiri is on a mission to support innovation to chart the next chapter of finance through facilitating trust, scale, and adoption for blockchain technology. The fund leverages its Asian institutional heritage to fund, advise, and empower blockchain founders who are unlocking real-world, global financial products and utility across stablecoins, payments, tokenized assets, DeFi, and financial markets infrastructure. For more information, visit onigiri.vc .
