Seven Japanese Web3 entrepreneurs, including Astar Network founder Sota Watanabe, have now joined forces to raise $10 million for their new venture ‘Next Web Capital (NeW)’. Strategic Investors in the round included crypto exchange Bitbank and venture capital firm WiL.

According to the press release issued, Next Web Capital is a blockchain and web3 accelerator that seeks to “expand the ecosystem through support for protocols that have the potential to expand globally.”

Founding members of the accelerator include Astar network founder Sota Watanabe, Fracton Ventures co-founders Yudai Suzuki, Naoki Akazawa, and Toshi Kamei, COO of Astar network Shun Ishikawa, co-founder of DMM crypto exchange Kei Seki, and Yusuke Obinata, co-founder of Ethereum Japan.

Through this venture, the Japanese entrepreneurs claim to offer blockchain accelerators that support new Web3 startups, offering advice and mentorship to new entrepreneurs, and “being the best bridge between Asia and the rest of the world.”