Japan-based venture capital firm GLOBIS Capital Partners (GCP) has announced the final close of Fund VII at $543 million, according to a release.
With a maximum investment of 10 billion yen per company, Fund VII is GCP’s largest fund ever. The fund invests in startups looking to update large industries in Japan that can be expanded globally and aims to create unicorn and decacorn companies that break into new domestic markets.
The company has also opened a new office in San Francisco to strengthen support for the global expansion of its portfolio companies.
Fund VII was launched in April last year as part of GCP’s “first to last” investment policy, which leverages the domestic and international networks of the GLOBIS Group to provide support from the seed stage.
Established in 1996, GCP was Japan’s first full-scale hands-on venture capital company. To date, GCP has established seven funds, invested in 200 companies, and aggregated assets under management of over $1.8 billion.
GLOBIS Capital’s previous fund, Fund VI, was launched in 2019 and closed at 40 billion yen, while Fund V was launched in 2016 and closed at 20 billion yen.
The company’s portfolio includes AI startup Telexistence, B2B wholesaler Novarca, 3D printer manufacturer Sun Metalon, SaaS management platform Leaner, and household expense management platform SmartBank, among others.
Two weeks ago, Mitsubishi Corporation’s wholly owned subsidiary, Marunouchi Capital, completed the first close of its $303-million third fund, according to a press release.
Earlier this month, Japanese early-stage venture capital fund JAFCO told DealstreetAsia that it will deploy $15-20 million in South Asia this year, with a firm focus on India.
Another Japanese VC firm, Global Brain, has partnered with Tokyo-headquartered Meiji Yasuda Life Insurance Company to launch a new 5 billion yen ($39 million) venture capital fund, which aims to invest in startups across three themes including preventive healthcare and wellness, revitalising local communities, and technological innovation.
Japan’s public investment fund, Japan Investment Corporation (JIC), has also committed to invest $30 million in Saisei Bioventures, a venture capital vehicle focused on the regenerative medicine industry.