SBI and Gumi Launch ¥3 Billion Crypto Fund Ahead of Japan's ETF Era

Gumi Inc., a Japanese financial services company, and SBI Group have launched a ¥3 billion private fund to invest in Bitcoin and major listed altcoins. The three-year fund, called SBI Crypto Fund I, began operations on August 1 and will deploy capital through a silent partnership structure.

The vehicle is structured with SBI Financial Services holding 51% of the operating company, while Gumi's wholly owned subsidiary gC Labs holds 49%. Daiwa Securities Group and Yamada Securities Group are participating investors alongside several unnamed parties. Individual commitments and target allocations were not disclosed.

Gumi has a significant stake in crypto assets, with ¥14.13 billion held as of April 30, up 86% from the previous year. The company is dependent on crypto price moves, with a ¥2.63 billion valuation gain driving its ordinary profit.