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Qin En Looi
Managing Partner
Onigiri Capital
Qin En Looi is the Managing Partner of Onigiri Capital, a venture capital fund launched by Saison Capital, the corporate venture arm of Japan’s Credit Saison. Qin En funds, advises, and empowers blockchain founders who are unlocking real-world, global financial products and utility across stablecoins, payments, tokenized assets, DeFi, and financial markets infrastructure.
At Saison Capital, Qin En is a Partner leading early-stage investments across fintech and commerce. He kickstarted Credit Saison’s digital asset strategy, and co-founded ONCHAIN, Asia’s first real-world asset conference.
Qin En was formerly the Co-Founder and COO of Glints, Southeast Asia’s largest talent ecosystem. He has been featured on Forbes 30 Under 30 and Entrepreneurs 27 Under 27 for being one of the youngest founders in the region to raise venture funding.
講演
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4:00–4:30午後木 26 2月Investor HoursInvestors Hours LoungeOpen
Empowering Entrepreneurship
Invest On Chain - AMA with Qin En Looi, Managing Partner, Onigiri Capital
About this session
This peer learning AMA brings together active investors for a candid conversation on deploying conviction capital in blockchain and Web3. Qin En Looi will share how Onigiri Capital, Saison Capital’s dedicated blockchain fund, underwrites emerging protocols, evaluates token and equity structures, and navigates volatility across cycles. Expect an interactive exchange on risk, governance, liquidity, and long-term value creation, with real questions and practical insights from fellow investors operating at the frontier of digital assets.
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2:35–3:15午後金 27 2月Founders DayMain Stage, Bellesalle B2Open
Empowering Entrepreneurship
Panel: The New Rules of Capital - From Policy Reform to Exit | パネルセッション：変わりゆく資本の流れ ── 政策改革からエグジットまで
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Hero ChoudharyManaging PartnerBEENEXT
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Kazuhiko YoshimatsuGeneral Manager & Chief RepresentativeTokyo Stock Exchange Inc. Singapore Branch
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Nobutake SuzukiPresident & Chief Executive OfficerMUFG Innovation Partners
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Qin En LooiManaging PartnerOnigiri Capital
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Rahil RangawalaManaging Partner, Accion Venture LabAccion Ventures
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Jesper KollGlobal AmbassadorMonex Group, Inc.Moderator
About this session
Why this discussion matters now: Japan's startup funding environment is being reshaped from both ends. On the macro side, Bank of Japan policy shifts and the Yen Carry Trade dynamics are rippling through global capital markets, affecting foreign LP appetite for Japanese VC funds. On the micro side, the government's 5-Year Startup Development Plan is delivering real results: sweeping changes to angel tax systems, stock options reform, and new listing rules from the Tokyo Stock Exchange are accelerating a seismic shift in how startups raise and exit. M&A deals hit a record 199 transactions in 2024, and Japan's PE market now exceeds ¥3 trillion. The "IPO or bust" mentality is dead.
Meanwhile, India's transformation into a $10 trillion economy is being powered by structural reforms and policy incentives like the PLI schemes, the $10 trillion digital payments explosion, and the $360 billion renewable energy boom. This panel connects the dots across both markets, asking: How do founders, investors, and policymakers navigate this new landscape together?
What you'll walk away with: A comprehensive view of the evolving capital stack in both Japan and India. Founders will gain strategies for structuring late-stage deals, navigating down rounds, and choosing the right exit path. Investors will understand how policy tailwinds in both markets are creating new opportunities and where to deploy capital for maximum impact. Policymakers will hear directly from the ecosystem on what's working and what's next. The session delivers a multi-track exit playbook and insight into the next wave of deregulation essential for cap table structuring and compliance.
このテーマがいま重要な理由
日本のスタートアップの資金調達環境は、マクロとミクロの双方から再編が進んでいます。マクロの側面では、日本銀行の政策転換や円キャリートレードの動向が世界の資本市場に波及し、日本のベンチャーキャピタルファンドに対する海外LPの投資意欲にも影響が及んでいます。
一方、ミクロの側面では、政府の「スタートアップ育成5か年計画」が着実に成果を上げています。エンジェル税制の抜本的見直しやストックオプション制度の改革、東京証券取引所による「時価総額100億円」基準の導入などが進み、スタートアップの資金調達とエグジットの構造は大きな転換点を迎えているのです。2024年のM&A件数は過去最多の199件に達し、日本のプライベートエクイティ市場は3兆円を超える規模に成長しました。
「なにがなんでもIPOを目指す」という考えは、もはや過去のものです。本パネルでは、政策改革からエグジット戦略までを一体で捉え、起業家、投資家、政策担当者がこの新たな資本環境にどう向き合い、共に乗りこなしていくのかを議論します。
本セッションで得られる視座
日本の資本構造がどのように進化しているのかを、俯瞰的に理解できます。起業家には、レイターステージのディール設計やダウンラウンドへの対応に向けた具体的な戦略を提示します。
投資家には、政策面の追い風がどのように新たな機会を生み出しているのかを明らかにします。政策担当者には、エコシステムの現場から、機能している制度と今後必要とされる改革についての率直な声を届けます。
本セッションでは、多様なエグジット戦略を体系的に整理した実践的な指針に加え、キャップテーブル設計やコンプライアンス対応に不可欠となる、次なる規制改革の方向性についても洞察を提供します。 -
