Japanese VC firm JAFCO invests $15M in blockchain company Tech Bureau
[The article has been updated to mention that Tech Bureau's total funding till date is $25 million]
Leading Japanese venture capital firm JAFCO has invested $15 million into blockchain technology company Tech Bureau.
The investment from JAFCO is part of Tech Burea’s series B funding round in which it raised approximately 1.6 billion yen. The round also includes Infoteria Corporation’s $1 million investment. Combined with other investments, the latest fundng round brings Tech Bureau's total funding till date to $25 million (at current exchange rates).
The company plans to use the funding to develop and launch the recently announced COMSA, the first integrated ICO platform. COMSA is a one-stop solution for Japanese companies seeking ICO funding, providing expertise, consultation, and solutions helping them integrate blockchain technology into their business practices.
“The recent clamp down of ICOs in various jurisdictions is stifling the fintech industry,” said Lon Wong (Lon), President of the NEM.io Foundation. “With a foresighted approach, Japan appears to be taking the lead in managing the growth of the cryptocurrency industry. Major venture capital companies are pouring in money, and the industry is well on its way to becoming a major economic force.”
Building off the popularity and rapid growth of Tech Bureau’s mijin blockchain (a NEM protocol blockchain) and Zaif Bitcoin exchange platform, COMSA aims to provide trusted ICO investment.
Following COMSA ICO white paper, four venture capitalists and one angel investor signed up for COMSA’s token sale. Additionally, 120,000 people have registered to participate in the COMSA ICO, which kicks off on October 2, 2017.
Tech Bureau expects four companies to launch ICOs of their own this year, while 30 companies are on a waiting list for deployment in 2018.
Japan’s First ICO Council
In a bid to further expand ICO adoption and deployment, Tech Bureau has founded Japan’s first ICO council. Drawing expertise from banks, stock companies, a foreign exchange margin trading company, an audit firm, two law firms, and over 15 technology companies, the council aims to introduce the ICO as a pragmatic fundraising method with guidelines to secure the success of both token sellers and buyers.
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