Recruit Holdings (Japan) has created a blockchain fund. Its budget is $ 25 million. The fund is called the RSP Blockchain Tech Fund. It will specialize in supporting foreign blockchain startups.
About RSP Blockchain Tech Fund
Recruit Holdings announced the upcoming creation of the fund in November last year. A new division of the company opened in Singapore. The Foundation announced that it will make the first investment in the Beam project.
RSP Blockchain Tech Fund will specialize in supporting foreign blockchain startups. For the investments made, it will receive tokenized shares and traditional securities of companies in which it has invested.
About current and future investments RSP Blockchain Tech Fund
The RSP Blockchain Tech Fund told that they have already invested in the project Beam (Israel). In particular, the digital asset MimbleWimble, which created the blockchain-startup. However, representatives of Recruit Holdings did not name the exact amount of investments.
The managers of the RSP Blockchain Tech Fund have stated that their task is to find and support blockchain projects that will create a useful product for the digital assets industry. Representatives of the RSP Blockchain Tech Fund added that within two to three months the foundation will enter into cooperation agreements with a number of startups.
Recruit Holdings is not the first Japanese company to set up a cryptocurrency fund.
In July last year, Line Corp, which owns one of the most popular instant messengers in Japan, also created a digital asset support fund. It is called Unblock Ventures. The budget of the fund is $ 10 million.
In possession of Line Corp is the Bitbox digital asset exchange. It is located in Singapore.