Nomura's crypto subsidiary, Laser Digital, has hired Florent Jouanneau as a new partner in its venture capital business, bringing the team size to seven members. Despite shrinking industry-wide funding levels, Laser Digital plans to expand its venture capital arm.

Jouanneau, who previously worked at White Star Capital, believes that now is the "perfect time" to invest in web3, as valuations are being dragged down by the lack of capital to be deployed.

Laser Digital is also raising third-party capital and aims to make another 10 investments in addition to the dozen or so deals it has completed so far.