JAFCO, one of Japan’s largest venture capital firms, has invested $15 million in Tokyo-based cryptocurrency solutions company Tech Bureau. Tech Bureau’s COMSA is a one-stop solution for Japanese companies seeking initial coin offering (ICO) funding.
Combined with Infoteria Corporation’s $1 million investment in Tech Bureau’s Series B offering and other investments, Tech Bureau has raised over $25 million to develop and launch the first integrated ICO platform, COMSA.
COMSA builds off Tech Bureau’s mijin blockchain (a NEM protocol blockchain) and Zaif Bitcoin exchange platform.
“The recent clamp down of ICOs in various jurisdictions is stifling the fintech industry,” said Lon Wong, 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.”
In 2017, Tech Bureau expects four companies to launch ICOs of their own, while 30 companies are on a waiting list for deployment in 2018.
To further expand ICO adoption and deployment, Tech Bureau has founded Japan’s first ICO council. The council draws expertise from banks, stock companies, a foreign exchange margin trading company, an audit firm, two law firms, and over fifteen technology companies.
They aim to introduce the ICO process as a pragmatic fundraising method with guidelines to secure the success of both token sellers and buyers.