Bitflyer launches ¥50 million startup fund

Investing | February 9, 2016 By:

Bitflyer announced it has started the ‘Blockchain Angel Fund’ supporting and investing in blockchain businesses in Japan.

The newly created fund has an initial size of ¥50m, or roughly $421,000. In the press release the company states that the first startup to get support is Sivira. Bitflyer is especially interested in the Sivira platform “hublive” that connects the burgeoning IoT with distributed ledger technology. This investment is seen as a way to “build a global network by expansion into Asia, Europe and the United States.”

BitFlyer founder and CEO Yuzo Kano said that it will aim to connect the startups it invests in with its network of investors and corporate entities in Japan, while providing its technical expertise to the teams.

bitFlyer is a Japan-based bitcoin exchange.