Akatsuki launches $20 million Emoote fund focused on Web 3.0

The Japanese company Akatsuki Inc. announced the creation of the Emoote fund with $20 million. The structure will focus on investments in Web3 projects.

The fund will back startups in the metaverse space, GameFi, and NFTs. The firm plans to concentrate its efforts on collaborating with Japanese entertainment and media companies.

“Based in Singapore, we will invest with a focus on Asia, a key Web 3.0 market, while maintaining a global mindset,” Akatsuki said.

According to the announcement, the company has funded more than 20 startups, including STEPN from Australian studio Find Satoshi Lab. In April, Binance’s venture arm announced strategic investments in the project.

Akatsuki is a mobile-game developer. Its best known title is Dragon Ball Z: Dokkan Battle — as of May 1, it had been downloaded more than 350 million times worldwide.

Uniswap Labs created a venture arm for investments in Web 3.0.

Firms with similar aims launched by Framework Ventures and 6th Man Ventures.

In May, the digital asset management company Ikigai Asset Management raised $30 million for a fund focused on metaverses and Web3 initiatives.

Musician and producer Pharrell Williams described blockchain and decentralised Web 3.0 technologies as the key to a revolution that will shake the music industry, the financial system and world governments.

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