Japanese VCs Invest in ICO Platform

Think ICOs are nothing but faddy cash grabs? Well, here are few firms that disagree:

Nippon Technology Venture Partners, FISCO Capitals and ABBALab have committed to invest $9 million in COMSA, an initial coin offering (ICO) fundraising platform built on the NEM blockchain protocol.

Deal Street Asia continues that COMSA was developed by the Japanese crytocurrency solutions startup, Tech Bureau, and that it’ll provide consumers with a streamlined ICO from offering to listing. Here’s the company’s CEO, Takao Asayama:

“COMSA will only create decentralized projects with proper use-cases and application to the blockchain world. Existing business entities will not need an ICO to utilize this platform. They can introduce their fundraising and blockchain technology and later build a solid business model…COMSA is a one stop shop solution for token creation and exchange.”

Tech Bureau was founded in 2014 and has reportedly raised over $6 million in its Series A round earlier this year. FISCO Capitals, Forex Broker, and Hiroshima Venture Capital were among the rounds’ participants.

As for the startup’s ICO platform, it has two set to launch on COMSA in the next few months – one for bottled water purveyor Premium Water Holdings, and another for crowdfunding platform CAMPFIRE.

COMSA’s recent fundraising will go to Tech Bureau’s future expansion efforts. Aside from growing its core businesses, the company plans to boost its cryptocurrency exchange, Zaif, and its private blockchain product, mijin.

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