Recruit Invests in Beam, A Confidentiality-conscious Blockchain Provider, through Its New Investment Fund Targeting Blockchain Technology

Feb. 18, 2019
Recruit Co., Ltd.
Business / Management

Recruit Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yoshihiro Kitamura; referenced below as "Recruit") , an intermediate holding company of Recruit Holdings Co., Ltd., established RSP Blockchain Tech Fund Pte. Ltd., a new fund aimed at rapid investment in blockchain-related startups, in November 2018. Through this fund, it has today finished investing in Beam Development Limited (Beam Development; Headquarters: Israel; CEO: Alexander Zaidelson; hereinafter "Beam"), a provider of blockchains that consider the confidentiality of user information.

1. About The Establishment of RSP Blockchain Tech Fund Pte. Ltd.

Through managed funds, Recruit and its subsidiary Recruit Strategic Partners, Inc. (referenced below as "RSP") invest in promising start-up companies with the aim of discovering new technologies and new business models, and acquiring business opportunities which are relevant to new business development for the Recruit Group.

As part of those corporate venture capital activities, and in a social environment which is seeing increased expectations and impact surrounding blockchain technology, we recognized the growing importance of Exploring business opportunities in this field, and we established the new fund RSP Blockchain Tech Fund Pte. Ltd. with the aim of rapid investment in relatedstartup companies.

The fund will focus on investment methods other than the acquisition of shares for the purpose of investment and, through investment activities in startup companies that use tokens to raise funds, it will promote the development and dissemination of blockchain technology.

The fund will primarily invest overseas and will consider its investment in accordance with the rules and regulations of each jurisdiction concerned.

(1) Company name RSP Blockchain Fund Pte. Ltd.
(2) Representative Hiroyuki Murai
(3) Location Singapore
(4) Established November 12, 2018
(5) Fund size 25 million USD
(6) Main business Investment development and venture capital

2. About Investment in Beam Development Limited

Beam Development Limited

Recently, with the increase in settlement services and exchange services using tokens, there are great expectations for the use of blockchains in corporate activities. However, with existing tokens, there is a challenge of potentially confidential transaction data information being leaked to third parties. While securing Auditability of transactions by allowing transaction data to be verified by a specified third party, Beam token provides a blockchain with a function that prevents the divulgation of transaction data to third parties and protects the user's transaction information.

Recruit recognizes the revolutionary impact of blockchain technology in facilitating innovation while preserving confidential data, but at the same time Recruit understands the need for appropriate government regulation to ensure that this new technology is not abused. Recruit will monitor and support the healthy development of not only the blockchain technical field, but also the relevant legal systems and new technological fields.

(1) Company name Beam Development Limited
(2) CEO Alexander Zaidelson
(3) Location Israel
(4) Established August 2018
(5) Main business Development of BeamMW, issuing of Genesis Block
(6) Website