Photo credit: Vertex Holdings
Vertex Ventures Japan (VVJ) has launched its inaugural fund, the Vertex Ventures Japan Fund I. Anchored by Singapore-based Vertex Holdings and worth 10 billion yen (US$64.2 million), the fund plans to invest in Japanese startups.
VVJ aims to leverage Vertex’s global VC presence in identifying early-stage investment opportunities, inspired by Vertex’s ventures in China, Israel, Southeast Asia, India, and the US. The new fund’s launch follows Vertex Ventures Southeast Asia and India raising US$541 million for its fifth fund in September 2023.
These funds are separately and independently managed by their respective general partners, and focus on different industries.
VVJ itself focuses on deeptech, digital transformation, AI, and the creator economy. Its management team includes managing partner Takashi Tomita and general partner Tomohiro Miyasaka, who will both lead the company’s efforts to scout for investments and develop VVJ’s relationships with new and existing sources of capital.
“The innovation platform aims to facilitate collaborations between companies, universities, the central government of Japan, and local governments in Japan to accelerate the growth of startups and create the next generation of industry champions,” said Tomita.
In an interview with Nikkei Asia, Vertex Holdings CEO Chua Kee Lock said that timing of VVJ’s new fund coincides with the Japanese government’s increasing support for startups. In December 2022, Prime Minister Fumio Kishida pledged “bold investments” into areas like “startups, innovation, and decarbonization.”
Additionally, Vertex Holdings has partnered with the University of Tokyo (UTokyo) and UTokyo IPC – the university’s investment platform – to bolster startup investment as well as promote human resource and R&D developments in the startup ecosystems of Japan and Singapore.
See also: Tokyo-listed AnyMind eyes 16x profit in 2023 as more seek online selling tools
Currency converted from yen to US dollar: US$1 = 155.69 yen.
Editing by Dhania Putri Sarahtika
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