Japanese seed-stage VC "Skyland Ventures" launches new seed fund focused on Web3 investments
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Japanese seed-stage VC "Skyland Ventures" launches new seed fund focused on Web3 investments
Skyland Ventures (SV) is a venture capital (VC) fund focused on seed-stage startup investments.
Navigating Web3 tides with focused insightsBy: Skyland Ventures
Skyland Ventures (Partner & CEO: Max Kinoshita; headquartered in Tokyo; hereinafter "SV") has announced the establishment of a new fund named Skyland Ventures Investment Business No. 4 Limited Liability Partnership (hereinafter "SV4 Fund"), which has already commenced investment activities.
Building upon its previous investments across all internet-related sectors, the SV4 Fund will actively invest in early-stage Web3 (cryptocurrency, NFTs, blockchain) startups both in Japan and abroad through equity and token-based investments. This sector has been a global focal point and business trend since 2021.
◆SV's mission statement updated from "Seed Maker." to "Seed Maker. & Unlearning."
Since its founding in 2012, SV has consistently invested in startups pioneering new commercial frontiers and business models in emerging fields such as VR, artificial intelligence, and live streaming—fully embodying its original mission as a "Seed Maker." Its portfolio includes Cluster (metaverse platform), ANY COLOR (YouTube virtual talent production agency), ROXX (online reference verification service), Aidemy (online AI programming education), and M&A cloud (online M&A marketplace). Other notable investments include GITAI (space robotics developer), LEAN BODY (online fitness service), Posiwill (online career coaching), TranSe (online creative school), LUCO (live-streaming design tools), and Ekaki (voice note-taking tool).
SV made its first foray into Web3 with an investment in December 2021 in Alyawmu, a project offering NFTs as gifts to donors participating in Japan’s “Furusato Nozei” (hometown tax) program. Additionally, Nanameue—the developer and operator of the virtual world “Yay!”—which SV has deeply supported since its inception, announced plans in April 2022 to launch a token and conduct an IEO*. These two projects solidified SV’s conviction in the Web3 market and ultimately led to the creation of a new fund focused primarily on Web3, with total fundraising amounting to approximately $40 million. As of April 2022, the SV4 Fund had secured around $5.5 million in committed capital.
SV observed that investing in Web3 startups involves both equity and token rights, requiring venture capitalists to reevaluate investment principles from multiple angles—including business models, team dynamics, management approaches, and even the role of nation-states—in response to rapidly evolving markets. As a result, SV has added the keyword "Unlearning" to its mission statement, updating it to "Seed Maker. & Unlearning."
*IEO stands for "Initial Exchange Offering," referring to the process by which blockchain projects list and sell their tokens on cryptocurrency exchanges to raise funds—an equivalent to IPOs for traditional startups.
◆The Web3 (Cryptocurrency, NFTs, Blockchain) Market
As of April 2022, there have been very few investments in Japanese Web3 startups. In contrast, globally—as shown in the chart below—over 500 Web3 startups received VC funding in Q4 2021 alone, totaling more than $10 billion in investment. The new SV fund aims to incubate numerous Web3 startups and deliver superior products and services to the global market.
◆Examples of SV4 Fund’s Web3 Investments (partial list)
SV has already invested in or committed to invest in the six Web3 startups listed above, including both emerging ventures and established companies transitioning into Web3.
Official websites and Twitter accounts of the above-mentioned companies:
◆Message from the Partner on the Launch of Skyland Ventures’ Fourth Fund
We are delighted to announce the official launch of Skyland Ventures’ fourth fund and sincerely thank our early limited partners who have already committed capital. For us, Web3 investing in Japan lacks many successful precedents or reference cases—it is a fresh challenge, yet one full of new possibilities. Moreover, the SV team has grown from four members in January 2022, when we began preparing the new fund, to ten members by April 2022, with more outstanding individuals expected to join soon. I believe this reflects the growing number of young professionals who believe in the future of Web3 and aspire to work in venture capital.
Our new team members bring diverse expertise—including former lawyers, video creators, non-Japanese nationals, and those based overseas. Japan has long been disconnected from the broader global internet landscape, but we firmly believe that only through Web3 can Japan reconnect and catch up with the rest of the world. We look forward to partnering with entrepreneurs who are leveraging cutting-edge technologies to tackle global markets! — Max Kinoshita, Partner/CEO, Skyland Ventures
https://www.linkedin.com/in/kinoshitay/
https://twitter.com/kinoshitay
◆About Skyland Ventures
Skyland Ventures (SV) is a seed-stage venture capital (VC) fund. Guided by the mission "The Seed Maker. & Unlearning.", SV provides early-stage funding via equity and token investments to startups aiming to make a significant impact on technological industries. To date, SV has invested in over 120 startups, most based in Japan. Starting in 2022, the firm is focusing specifically on investing in Web3 startups (cryptocurrency, NFTs, blockchain).
Please feel free to contact SV via email: [email protected] (Chinese inquiries welcome)
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