Peter Thiel’s VC firm backs Coral Capital’s new $128m fund

Coral Capital, a seed-stage venture capital firm formed by the former 500 Startups Japan team, announced the first and final close of its newest 14 billion yen (US$128 million) fund.

More details

• Investors: Mizuho Bank, Mitsubishi Estate, Shinsei Bank, Pavilion Capital, Peter Thiel’s Founders Fund, Dai-ichi Life Insurance, and Gree, plus undisclosed domestic and international institutional investors
• Average ticket size for investments: First checks of US$500,000 to US$5 million and larger follow-on investment rounds
• Amount raised: 14 billion yen (US$128 million)
• Stage: Final close
• Sectors: Unspecified

More company updates

• The latest fundraise brings the total assets under management of Coral Capital, an investor in Japanese unicorn SmartHR, to about US$275 million.
• About 30% of the raised amount came from global investors across the US, Asia, and Europe, the firm noted.
• Yohei Shirata, who was previously with Tokyo-based Persol Career, has joined Coral Capital to lead its executive recruiting efforts. The VC firm also plans to announce another appointment to bolster its community building initiatives.
• Other companies in Coral Capital’s portfolio include Anyflow, UMed, and Shippio.

Currency converted from Japanese yen to US dollar: US$1 = 109.88 yen.