Cryptocurrency talk seems to be everywhere these days, but many interested investors have struggled to gain a foothold in Japan. Gumi Inc hopes to change that with the launch of its cryptocurrency investment fund: Gumi Cryptos.
The fund, totaling $30 million in initial investment, is focused on investment in cryptocurrency and blockchain technology. It has already been used to fund four projects: Basis, Origin Protocol, Robot Cache, and Pryze.
Gumi Cryptos aims to serve as a bridge for cryptocurrency organizations that want to connect with Japanese markets, something that such groups have struggled with so far. Though Japan was the first country to legalize Bitcoin, its market remains a puzzle for overseas investors and operators.
The company appears well-suited to the task. It already has plenty of experience launching popular mobile games such as Brave Frontier in the Japanese market, and its investment leadership includes Miko Matsumura, the founder of a US-based virtual currency exchange called Evercoin.
"We decided to create a fund that enables us to engage more directly with early-stage blockchain and cryptocurrency startups, in order to be more effective partners and have a real impact in the market," said Gumi founder and CEO Hironao Kunimitsu in a statement. "Our team brings tremendous expertise in emerging technology, and with Gumi Cryptos, we can truly partner with these companies as they achieve amazing results for all stakeholders."