# Toho Holdings

> Toho Holdings is a VC fund in Tokyo backing Medical, Health Care and Biotechnology. See 14 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Tokyo, Japan
- Total investments: 14
- Last investment: Nov 2025
- Lead investor: 14%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/toho-holdings-co-ltd
- Website: https://www.tohohd.co.jp/

Toho Holdings is a VC fund in Tokyo focused on Medical and Health Care. Toho Holdings focuses on pharmaceutical wholesale business, dispensing pharmacy business, and pharmaceutical manufacturing business. The firm was founded in 1948 and is headquartered in Tokyo, Japan.

## Round sizes

| Stage | Round size |
| --- | --- |
| Venture - Series Unknown | $8.8M–$9.5M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Medical | 8 | 57% |
| Health Care | 8 | 57% |
| Biotechnology | 6 | 43% |
| Nursing and Residential Care | 4 | 29% |
| Pharmaceutical | 3 | 21% |

20 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Funding Round | 5 | 36% |
| Corporate Round | 3 | 21% |
| Venture - Series Unknown | 2 | 14% |
| Seed | 1 | 7% |
| Grant | 1 | 7% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Japan | 12 | 86% |
| Singapore | 1 | 7% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Surv Biopharma | Surv Biopharma develops a drug discovery platform that facilitates research and development of veterinary drugs and pharmaceutical products. | $14.1M | Series B | Nov 11, 2025 |  |
| Reborna Biosciences | Reborna Biosciences provides research and development in the field of genetic diseases. The company develops therapeutic options for area of unmet medical needs in genetic rare disease. The company's technology enables low-molecular compounds to target ribonucleic acid. The company provides new disease-modifying drugs for patients sufferingfrom rare genetic diseases including spinal muscular atrophy. | $5.3M |  | Jun 25, 2025 |  |
| Hirosaki Lifescience Innovation | Hirosaki Lifescience Innovation is engaged in the development, manufacture, and sale of regenerative medicine products. | $15.2M | Series C | Jul 22, 2024 |  |
| United Immunity | United Immunity is a research, development, manufacture and sale of pharmaceuticals, mainly for cancer immunotherapy. |  |  | Sep 11, 2023 |  |
| United Immunity | United Immunity is a research, development, manufacture and sale of pharmaceuticals, mainly for cancer immunotherapy. |  | Grant | Sep 11, 2023 |  |
| Cellusion | Cellusion is a regenerative medicine startup from Keio University. The mission of Cellusion is to deliver novel therapies for all bullous keratopathy patients by our iPS cells origin corneal endothelial cells mass culture system. | $9.5M | Venture - Series Unknown | Jan 06, 2022 |  |
| Aevice Health | Aevice Health provides non-invasive wearable technology that enables real-time monitoring of respiratory health. The devices facilitate early detection of cardiopulmonary issues and allow clinicians to track patient responses to treatment effectively. This approach enhances patient care by delivering critical insights directly from home. | $2.1M | Seed | Jun 15, 2021 |  |
| KUBIX | KUBIX is a biotechnology company. |  | Corporate Round | Jan 18, 2021 |  |
| Entouch | Entouch provides an environment where doctors can receive explanations of drugs from the MRs whenever it is convenient for them. |  | Corporate Round | Aug 25, 2020 |  |
| Kringle Pharma | Kringle Pharma, Inc., a biopharmaceutical company, develops pharmaceutical products based on its research on hepatocyte growth factor (HGF) and NK4. Its HGF has the regenerative healing ability in regard to liver cells, as well as various cells and organs; and NK4 is a bi-functional molecule, which inhibits the invasion and metastasis of tumorcells as an HGF-antagonist, as well as possesses antiangiogenic activity. The company’s pipeline includes recombinant human HGF for the treatment of acute renal failure, skin ulcers, and CNS diseases; and recombinant human NK4 and NK4 gene drugs for cancer therapy. Kringle Pharma, Inc. was founded in 2001 and is based in Toyonaka, Japan. | $8.8M | Venture - Series Unknown | Feb 28, 2020 |  |

10 of 14 investments shown.

## Co-investors
- [Keio Innovation Initiative](https://shizune.co/investors/profile/keio-innovations-initiative) — VC Fund, 3 deals together
- [UTEC - The University of Tokyo Edge Capital Partners](https://shizune.co/investors/profile/utec) — VC Fund, 3 deals together
- [Cyberdyne](https://shizune.co/investors/profile/cyberdyne) — VC Fund, 2 deals together
- [DBJ Capital](https://shizune.co/investors/profile/dbj-capital) — VC Fund, 2 deals together
- [Gogin Capital](https://shizune.co/investors/profile/gogin-capital) — VC Fund, 2 deals together
- [Nippon Venture Capital](https://shizune.co/investors/profile/nippon-venture-capital) — VC Fund, 2 deals together

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## FAQ

### What does Toho Holdings invest in?

Toho Holdings invests primarily in Medical, Health Care and Biotechnology startups, most often at Funding Round and Corporate Round stage. Most of the 14 investments tracked by Shizune back companies in Japan. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Toho Holdings's check size?

Toho Holdings typically joins rounds of $8.8M–$9.5M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Toho Holdings participates in.

### When did Toho Holdings last invest?

The most recent investment recorded for Toho Holdings closed in Nov 2025. Shizune tracks 14 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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