Nomura Unlocks Private Markets with Blockchain-Powered ¥8B VC Fund

Japan's financial landscape is undergoing a seismic shift as Nomura Holdings Inc. launches the country's first security token offering (STO) for a venture capital fund, marking a bold foray into tokenization. The "Nomura Private Series B Dash Fund 5 Tokenized VC Fund 202510" has secured ¥8 billion in commitments, leveraging blockchain technology to streamline venture capital (VC) investments traditionally hampered by complex administrative processes [according to reports](https://fxnewsgroup.com/forex-news/institutional/nomura-completes-issuance-procedures-fornomura-private-series-b-dash-fund-5-tokenized-vc-fund-202510/). This initiative, developed in collaboration with B Dash Ventures, represents a strategic pivot toward digitizing private market access, aligning with broader trends in real-world asset (RWA) tokenization that [have surged 380%](https://www.coindesk.com/business/2025/06/26/real-world-asset-tokenization-market-has-grown-almost-fivefold-in-3-years) in three years to $24 billion.

The fund's structure is built on the J-Ships Framework, a regulatory model in Japan designed for professional investors, and utilizes the consortium blockchain platform "ibet for Fin" developed by BOOSTRY. By tokenizing limited liability partnership interests, Nomura aims to reduce operational frictions in VC investing, enabling electronic registration of holdings and automated rights transfers. This approach not only cuts administrative burdens but also enhances transparency and efficiency, critical factors in attracting institutional and accredited investors to private markets [according to reports](https://fxnewsgroup.com/forex-news/institutional/nomura-completes-issuance-procedures-fornomura-private-series-b-dash-fund-5-tokenized-vc-fund-202510/).

Nomura's move is underpinned by its recent expansion in asset management, including the $1.8 billion acquisition of Macquarie's U.S. and European public asset management business. This acquisition, which added $166 billion in client assets, has bolstered Nomura's capacity to innovate in private markets. The firm's new CEO for Nomura Asset Management International, Shawn Lytle, [emphasized the strategic importance](https://www.marketscreener.com/news/nomura-holdings-inc-announces-management-appointments-for-asset-management-international-ce7d51d8da81f625) of digital transformation in accessing global capital pools. The VC tokenization initiative complements these efforts, positioning Nomura to capitalize on the [projected $30 trillion RWA market](https://www.coindesk.com/business/2025/06/26/real-world-asset-tokenization-market-has-grown-almost-fivefold-in-3-years) by 2034, as forecasted by Standard Chartered.

The partnership with B Dash Ventures, a venture capital firm focused on retail-linked opportunities, underscores the fund's unique positioning. Unlike traditional VC vehicles, this tokenized offering allows professional investors to access early-stage growth companies through a streamlined, digitized framework.

By leveraging blockchain, Nomura and B Dash aim to democratize access to private equity while adhering to Japan's stringent regulatory requirements under the Financial Instruments and Exchange Act [according to reports](https://fxnewsgroup.com/forex-news/institutional/nomura-completes-issuance-procedures-fornomura-private-series-b-dash-fund-5-tokenized-vc-fund-202510/).

Market observers note that the fund's success could catalyze further adoption of tokenization in Japan's financial sector. The broader RWA market, already growing rapidly, is seen as a potential [projected $30 trillion opportunity](https://www.coindesk.com/business/2025/06/26/real-world-asset-tokenization-market-has-grown-almost-fivefold-in-3-years) by 2034, driven by blockchain's ability to reduce friction in asset management and trading. Nomura's initiative aligns with this trajectory, showcasing how traditional institutions are integrating decentralized technologies to enhance liquidity and investor participation in private assets.