Nomura Launches Crypto VC Unit to Invest in Web3 and Blockchain Infrastructure

Quick take:

• The Japanese investment banking giant has launched its crypto VC unit.
• NFTgators revealed in May that the company was launching a digital assets subsidiary.
• The new unit, called Laser Digital, is headed by Steven Ashley, who is stepping down from his role as head of trading and investment banking.

Nomura has announced the launch of its crypto venture unit, Laser Digital. The Japanese investment banking giant revealed in May that it was launching a new subsidiary focused on digital assets.

According to the press release published on the company’s website on Wednesday, Laser Digital will invest in decentralized finance (DeFi), centralized finance (CeFi), web3 and blockchain infrastructure projects.

The company said the first product to launch from the new unit will be called Laser Venture Capital. Nomura joins a growing list of mainstream financial institutions jumping on the web3 market.

Earlier this year, HSBC launched a metaverse fund for wealthy Asian clients, while Invesco announced last month that it was launching a thematic fund focused on the growing metaverse and web3 space.

According to Nomura’s previous announcement in May, the company planned to use the new digital assets subsidiary as a vehicle to invest in “products and services related to cryptocurrencies, stablecoins, DeFi, NFTs and other tokens.”

Commenting on the official launch of Laser Digital, Kentaro Okuda, Nomura Holdings, Inc., President and CEO said: “Staying at the forefront of digital innovation is a key priority for Nomura. This is why, alongside our efforts to diversify our business, earlier this year Nomura announced that it would establish a new subsidiary focused on digital assets.We look forward to sustainable growth in this new business under the leadership of Steven and Jez.

The company appointed Steven Ashley as the new chairman of the Switzerland-based unit after he stepped down from his position as head of trading and investment banking.

The company is backing the new subsidiary to succeed under the leadership of Ashley, whose tenure as head of trading was scarred by losses from Archegos Capital Management.

The Web3 space has been one of the most vibrant investment opportunities for venture capital firms in 2022, according to Reuters. According to the report published on July 26, VCs pumped $17.6 billion into crypto during the first half of 2022, putting the flow of capital into the sector on course to surpass last year’s $26.9 billion.

CrunchBase’s web3 tracker indicates that $88 billion has now flown into the space since the company began collecting data on web3 startup funding in 2019, creating 79 unicorns out of the 15,833 companies that have received funding from VCs.

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