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Bengaluru, June 1
Entertainment and gaming firm Akatsuki Inc has announced a $20-million Web3 fund called Emoote, with a major focus on Asian companies.
Since September last year, Emoote has invested in more than 20 projects through tokens. It focusses on early-stage investing that includes seed capital, mainly in Asia (50 per cent) and the US (40 per cent), with the remainder in other regions (10 per cent). Going forward, Emoote will continue to invest in start-ups in Web3 fields such as GameFi, NFTs and Metaverse.
“The Asian region has occupied an important position in Web3 up to now with Axie Infinity, a representative of GameFi, launched in Vietnam, and the GameFi scholarships of Yield Guild Games born in the Philippines. In response to the success stories, a further increase in Web3 projects is expected, with Asia being the focal area,” said the firm in a statement.
Some of the focus areas for Emoote include Web2 Applications with Token, Web3 IP Creation, NFT and Digital Fashion. Emoote’s portfolio includes the likes of lifestyle app STEPN and GameFi NFT factory, BreederDAO
Akatsuki is a maker of popular smartphone games based in Japan and Taiwan. Through the AET Fund1 and Heart Driven Fund2, Akatsuki has supported the growth and value enhancement of start-ups, mainly in the US, India, and Japan. Akatsuki has been in Singapore since the second half of 2021, establishing Emoote Pte Ltd, and starting operations of the $20-million Emoote fund specialised in the Web3 fields.
Emoote said it has invested in projects that have the potential to transform the entertainment, media, and lifestyle fields with Web3 technology. Based in Singapore, the fund will invest with a focus on Asia, while keeping a global mindset. The AET Fund (est. Oct. 2017) focuses on investing entertainment and technology, mainly in North America and India. The Heard Driven Fund (est. Nov. 2018) supports startups and artists, mainly in Japan.
Web3 fund
Published on June 1, 2022
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