Japan's Nomura launches blockchain VC unit
Japan’s Nomura Holdings has launched a business called Laser Venture Capital that will invest in companies in the blockchain and digital assets space.
The VC unit is the first offering from a broader initiative called Laser Digital, which will also explore secondary trading and investor products in the sector.
Laser Digital will be led by Steve Ashley, formerly head of trading and investment banking at Nomura, and Jezri Mohideen, ex-head of yen products at Royal Bank of Scotland. Mohideen was fired from that position due to his involvement in an interest rate-rigging scandal in the early 2000s.
Laser Venture Capital will initially focus on decentralised finance (defi), centralised finance, web3, and blockchain infrastructure, according to a statement. Nomura has also flagged interest in products and services linked to cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and other tokens.
It extends a trend of mainstream financial institutions embracing blockchain as new applications are normalised, despite ongoing uncertainties in terms of regulation. Nomura said that Laser Digital would be based in Switzerland due to the country’s robust regulatory regime for digital assets and blockchain projects, as well as for its attractive talent pool.
Nomura launched its private equity business in 2017; it previously addressed the asset class via a principal finance division. A US-based venture debt business called Nomura Strategic Ventures was set up last year as part of a broader private markets push. Direct investments in blockchain include US-based digital securities technology provider Securitize.
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