Saison Capital

What Saison Capital does

Saison Capital is the venture capital arm of Credit Saison, a Tokyo Stock Exchange-listed Japanese non-bank financial services conglomerate with US$30B AUM. Founded in 2019 and headquartered in Singapore, the firm operates as a lean (approximately 9-person) investment holding company providing patient equity financing to pre-seed through Series B founders globally, with a thematic focus on Southeast Asia and India. Across its core fund and the September 2025 launch of Onigiri Capital (a dedicated $50M blockchain/RWA tokenization fund with $35M secured), the firm has deployed capital across more than 13 countries into 40+ portfolio companies spanning fintech, embedded finance, e-commerce and Web3.

The firm's core technology footprint is light and operationally appropriate for a venture capital firm: a Wix-hosted website, an internally built and publicly distributed Google Sheets Net IRR Calculator for fund return modeling, and a content/research publication engine (Medium, Project Wira, Project Bayani, State of ESOPs, Tokenize Indonesia accelerator). Its business model combines traditional VC economics (management fees and carried interest on the 2019 Credit Saison-backed $55M core fund and the Onigiri Capital fund) with an LP investment program backing emerging first-time GPs and micro-VCs globally. Go-to-market is community-led, sourced primarily through direct inbound, partner and portfolio-founder referrals, conference participation (TOKEN 2049, Echelon, Indonesia Blockchain Week), and ecosystem programs including a VC Scout program, rolling internships, and EntrePass Partner status under Singapore Startup SG. Pricing and check sizes are negotiated bilaterally per deal and are not publicly disclosed.

Name

Saison Capital

Legal name

Saison Capital Pte. Ltd.

Website

https://saisoncapital.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Saison Capital is the Singapore-based venture capital arm of Credit Saison, a US$30B AUM Japanese financial conglomerate. It invests from pre-seed to Series B across fintech, e-commerce and Web3 globally, with a focus on Southeast Asia and India and a dedicated $50M RWA tokenization fund (Onigiri Capital).

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Finance Services (6199), Investment Advice (6282)

akta.pro primary industry

Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

akta.pro secondary industries

Special Situations / Opportunistic Credit Funds (FSANAKAB), Emerging Manager / Small Fund Secondaries (FSANAFAL), Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)

Keywords

• Venture capital investing
• Early stage equity
• Blockchain investments
• Fintech venture capital
• Real world assets

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment gains / portfolio exits: As the venture arm of Credit Saison, Saison Capital operates as an investment holding company providing patient equity financing. Revenue/value creation is primarily driven by long-term equity appreciation in pre-seed to Series B portfolio companies across fintech, e-commerce and Web3, with exits via M&A or IPO. Examples include River's acquisition of Wind (a portfolio company) and the $108M Series C raise of Koinworks.
2. Fund management (Onigiri Capital): Launched Onigiri Capital, a $50M blockchain investment fund that has secured $35M to date, targeting real-world asset tokenization across stablecoins, payments, tokenized assets, DeFi and financial markets infrastructure. Generates typical VC fund economics through management fees and carried interest on the fund.
3. LP investment program: Operates an LP strategy of backing emerging first-time GPs and micro-VCs, deploying capital across categories of early-stage fund managers (Category 1-3). Smallest GP fund backed to date was US$6M; first US LP cheques deployed.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels10 records

Core offering

Saison Capital is the venture capital arm of Credit Saison (US$30B AUM Japanese non-bank financial conglomerate), investing patient equity in pre-seed to Series B companies globally with a focus on Southeast Asia and India across fintech, e-commerce, and Web3 verticals. Its core offering is direct equity investment backed by operator-led support, supplemented by Onigiri Capital (a $50M blockchain/RWA tokenization fund), the Tokenize Indonesia RWA startup accelerator, the State of ESOPs research platform, and the publicly available Net IRR Calculator.

Product overview

Saison Capital's offering is a platform-plus-modules architecture built around a core venture capital fund (the Credit Saison-backed early-stage investment vehicle covering Pre-Seed to Series B globally with a focus on South East Asia and India), augmented by several specialized sub-brands and programs. Onigiri Capital is a dedicated $50M blockchain/RWA tokenization fund; Tokenize Indonesia is an RWA startup accelerator co-run with BRI Ventures and Coinvestasi; the State of ESOPs platform publishes research on employee stock options; the Net IRR Calculator is a publicly available Google Sheets tool for fund return modeling; and the Internship, VC Scout, and EntrePass Partner Programs round out the firm\u2019s ecosystem-building offerings. All of these sit under one lean, operator-first VC team based primarily in Singapore, leveraging Credit Saison\u2019s US$30B AUM conglomerate resources.

Differentiator

Problem solved

Functional benefit

Brands

• Onigiri Capital: $50 million blockchain investment fund launched by Saison Capital targeting startups in real-world asset tokenization across stablecoins, payments, tokenized assets, DeFi, and financial markets infrastructure.

Products and services

• Saison Capital Core Venture Capital Fund Core venture capital fund providing patient equity financing to pre-seed to Series B companies globally with a focus on Southeast Asia and India, across fintech, e-commerce, and Web3 verticals. The fund is the venture arm of Credit Saison and is operated by an operator-first team of ex-unicorn operators.
• Onigiri Capital A $50 million blockchain investment fund that bridges U.S. blockchain innovation with Asia's institutional markets, targeting startups in real-world asset (RWA) tokenization, including stablecoins, payments, tokenized assets, DeFi, and financial markets infrastructure. Open to institutional LPs.
• Tokenize Indonesia RWA Startup Accelerator A real-world-asset startup accelerator co-run by Saison Capital, BRI Ventures, and Coinvestasi that supports startups building tokenization solutions for the Indonesian market. Built on the Project Wira research report predicting $88 billion in tokenized asset demand in Indonesia by 2030.
• State of ESOPs

Quantifiable outcome

• Part of Credit Saison, a US$30B AUM financial services conglomerate
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Openspace Ventures: Singapore-based early-stage VC investing across Southeast Asia in fintech, consumer and digital economy, with comparable pre-seed/seed and Series A focus and a similar operator-led investment style.
• East Ventures: Indonesia/Singapore-headquartered early-stage VC investing across SEA from pre-seed to Series B in fintech, e-commerce and consumer tech — directly comparable geography, stage and sector focus to Saison Capital.
• Wavemaker Partners: SEA/US early-stage VC focused on pre-seed and seed rounds in fintech, e-commerce and enterprise SaaS; highly comparable stage and sector overlap with Saison Capital's core fund.
• Vertex Ventures: Singapore-headquartered multi-stage VC with deep SEA and India exposure, investing from seed through growth — comparable geography and stage breadth to Saison Capital.
• AppWorks: Greater Southeast Asia early-stage accelerator/VC focused on pre-seed to Series A in fintech, AI and e-commerce; comparable regional mandate and pre-seed/seed emphasis.

Emerging players

• Iterative: Singapore-based operator-led pre-seed fund focused on SEA founders, with a growing Web3 vertical — most directly comparable on the operator-first, SEA + Web3 intersection.
• HashKey Capital: Asia-focused crypto/Web3 investment firm backing token, equity and ecosystem funds; directly comparable to Saison Capital's Onigiri Capital RWA/Web3 mandate.
• Spartan Group: Asia-anchored crypto-native VC investing in token and equity across DeFi, RWA and Web3 infrastructure — overlaps directly with Onigiri Capital's RWA thesis.

Broad incumbents

• 500 Global: US-headquartered emerging-markets seed accelerator/VC with active programs in SEA, India and LatAm — comparable emerging-markets pre-seed/seed footprint.
• Peak XV Partners (formerly Sequoia India/SEA): India/SEA growth-stage VC that increasingly competes for the same fintech and Web3 deals at Series A and beyond — relevant scale competitor on the growth end of Saison Capital's mandate.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SaisonCapital
• LinkedInlinkedin.com/company/saisoncapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments115 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saison Capital