Japan Unlocks Opportunities for Domestic Venture Capitalists to Invest in Web3 Startups
On February 16, the Ministry of Economy, Trade and Industry (METI) disclosed that the Japanese cabinet has approved a proposal allowing domestic venture capitalists (VCs) to invest in Web3 startups. The legal reform will enable Japanese VCs to participate in projects issuing virtual currencies, previously limited to international investors.
According to METI, the approved revision entails amendments to four key acts. One of these four important acts adopted by the ministry is the Act on Investment Limited Partnership Agreement.
This particular act seeks to stimulate the development of startup companies and sectors by increasing domestic investments. The legal reform will allow Japanese venture capitalists to gain the ability to invest in projects exclusively issuing virtual currencies.
Japan to allow certain VCs direct investment in crypto and Web3 startups, potentially unlocking significant opportunities for local projects.
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