Japanese real estate group to launch $45m startup fund with Global Brain

Photo credit: 401(K).

Japan-headquartered real estate group Mitsui Fudosan is launching a new startup fund with venture capital firm Global Brain, the company announced today. The 31Ventures Global Innovation Fund I is worth US$44.5 million and has a term of 10 years.

The fund will target series A-stage and later-stage startups from around the world, including some pre-series A investments. Verticals for investment include real estate, internet of things (IoT), energy and greentech, sharing economy, fintech, ecommerce, robotics, and life sciences.

The fund will target series A-stage and later-stage startups from around the world.

The real estate company will also invest in other venture capital funds to expand its deal portfolio. It has already participated as a limited partner (LP) in 500 Startups’ Fund 4 for seed-stage investments in the US and in Draper Nexus Ventures’ Fund 2 for discovering US and Japanese early-stage startups.

Mitsui has worked out two partnerships to help provide support to portfolio companies. In the US, it’s working with the New York-based Entrepreneurs Roundtable Accelerator, while in Asia it has partnered with NUS Enterprise, the entrepreneurship arm of the National University of Singapore.

Additionally, it wants to create a series of 31Ventures offices – effectively co-working spaces that will allow for collaboration and communication between them and the portfolio startups. Support for startups will take the form of legal advice, accounting services, go-to market opportunities using Mitsui Fudosan’s client network, and more.

Converted from Japanese Yen. US$1 = 112 JPY