Jafco leads $14.8m investment in Japan's Tech Bureau
Tech Bureau, a Japan-based cryptocurrency exchange platform operator, has received JPY1.6 billion ($14.8 million) in Series B funding led by domestic venture capital firm Jafco.
Tokyo-listed software company Infoteria also participated. According to a statement, the capital will be used for hiring additional staff, development of the company’s bitcoin exchange infrastructure known as Zaif, and operational expansions in the US, Europe and Asia through merger and acquisition activity.
The investment is also expected to advance the company’s Comsa platform, which facilitates token sale fundraisings. It coincides with a spike in token sale activity and increasing regulatory pressure for the emerging funding model.
Last month, Nippon Technology Venture Partners, Fisco Capital, and ABBALab committed $9 million to Tech Bureau via a token sale. The company said at the time that it expected the GPs’ participation to increase interest in both Comsa and in the companies that use the platform for their own token sales.
Tech Bureau raised JPY670 million last year from a consortium of investors including Nippon, Fisco and Hiroshima Venture Capital. Previous backers also include Japan-based foreign exchange specialist Money Partners and social media-focused IT services provider OK Wave.
Jafco reached a first close on its fifth global venture capital and buyout fund last year with JPY41 billion in commitments. The firm manages 37 funds and claims some JPY433 billion in total commitments.
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