LINE, the Japanese messaging giant, has today announced the launch of its token venture fund.

The Token venture fund will have a capital commitment of $10 million USD via LINE’s subsidiary, Unblock Ventures. Unblock Ventures was recently established in Hong Kong in only July of this year.

Token Venture Fund

The publicly traded LINE made the announcement earlier today and said its goal is to invest in blockchain startups with the ambition of boosting technological development.

Unblock Ventures, will manage the fund but the actual capital of $10 million will be provided by LVC Corporation — another subsidiary of the LINE group. As blockchain technology develops, and industry as a whole grows in the future, the company is expecting to increase the size of the fund.

A Broader Ambition

LINE’s token venture find is apart of the company’s wider push into the cryptocurrency sphere, whereby it was only a month ago that the company started the operation of Bitbox; its cryptocurrency trading platform.