See the original story in Japanese.
Spiral Ventures Japan announced the final closing of Spiral Ventures Japan Fund 1 with 7 billion yen (about $64 million US) limited partner commitments on Monday. The fund raise surpassed its initial target of 6 billion yen (about $55 million). Participating limited partners include Asics Ventures, Seino Holdings (TSE:9076), Tosho Printing (TSE:7913), Mori Trust, Organization for Small & Medium Enterprises and Regional Innovation – JAPAN, in addition to unnamed Japanese securities companies and foreign hedge funds.
Spiral Ventures Japan announced the final closing of Spiral Ventures Japan Fund 1 with 7 billion yen (about $64 million US) limited partner commitments on Monday. The fundraise run surpassed its initial target of 6 billion yen (about $55 million). Participating limited partners include Asics Ventures, Seino Holdings (TSE:9076), Tosho Printing (TSE:7913), Mori Trust and Organization for Small & Medium Enterprises and Regional Innovation – JAPAN, in addition to unnamed Japanese securities companies and foreign hedge funds.
The first fund is intended to invest in startups with focusing on “X-Tech” (fusion areas between Internet/technology and real industry), especially in two areas: industry-changing business and industry-creating business. The fund has invested a total of 2.1 billion yen ($19.3 million) in 19 startups including OpenLogi (logistics), BizReach (human resource), Nurve (preliminary inspection of apartment rooms using virtual reality solutions), Z-Works (elderly caregiving solutions powered by Internet of Things) and Future Standard (rapid hardware/software prototyping). The fund’s typical investment size is 50 to 300 million yen ($460,000 to $2.8 million) for an early/middle-stage startup and up to 500 million yen ($4.6 million) for a later-stage startup.
See also:
- IMJ Investment Partners gets rebranded to Spiral Ventures as independent VC firm
- Japan’s Z-Works secures $3.6M series A to assist elderly caregivers by IoT monitoring
- Minrevi, end-of-life startup, secures $9M series C to disrupt Japanese funeral industry
- Spiral Ventures eyes up to $50m for Asia Fund-I, set to close 3 India deals (DealStreetAsia)
Translated by Masaru Ikeda
Edited by “Tex” Pomeroy
