Tokyo FinTech
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Tokyo FinTech

Japanese space tourist launches USD 100m Web3 fund

Yusaku Maezawa, who founded Japan’s largest online fashion mall, Zozotown, and sold most of his stake to Yahoo Japan in a deal worth more than USD 2.3bn before taking a Russian Soyuz rocket to the International Space Station for a 12-day trip at the end of last year, announced the launch of a USD 100m Web3 fund.

The “MZ Web3 Fund” looks to invest in seed and early stage startups with products and services in the virtual reality (VR), augmented reality (AR), or generally xR domains. Ticket sizes will range from millions to hundred of millions of Japanese Yen, in the form of equity, non-fungible tokens (NFT), or token investments.

The fund’s value proposition to the founder is described as follows:

  • Fast decision making and funding, as soon as one week after screening
  • PR and marketing support for the investee company
  • Assistance from technology and crypto experts

On his Twitter, Maezawa-san expressed his excitement about the opportunities Web3 offers by being inclusive of people and places that have been neglected by capitalism so far, with NFTs providing the glue in that new ecosystem.

To seek funding, candidate startups can contact the MZ Web3 Fund through its Google Form, while submitting standard information and a pitch deck. All information presented is currently in Japanese only, however, the fund has bi-lingual staff, so would be able to comprehend English submissions as well.

  • Company overview
  • Management profile
  • Funding Usage
  • Investment conditions (amount and form [equity, tokens, etc.])
  • Existing investors
  • Capital policy (e.g., token allocation and vesting periods)
  • Market analysis
  • Competitive positioning and business plan

If you apply for funding by the MZ Web3 Fund, whether as a Japanese or international startup, we would love to hear about your experience!

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Norbert Gehrke

Norbert Gehrke

Passionate about strategy & innovation across Asia. At home in Japan. Connector of people & ideas.