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Top 50 Retail VC Funds & Investors in Japan (October 2026)

The most active venture capital funds investing in Japan Retail startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Japan Retail startup companies. Find investors to raise a Seed, Series A or Venture - Series Unknown round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Mizuho Capital
VC Fund
8 Japan, United States, Singapore Series A, Venture - Series Unknown, Series B Information Technology, Software, Artificial Intelligence $661k–$47M
Incubate Fund
VC Fund
7 Japan, United States, India Seed, Series A, Venture - Series Unknown Software, Information Technology, Artificial Intelligence $288k–$20M
Mitsubishi UFJ Capital
VC Fund
5 Japan, United States, Israel Series A, Venture - Series Unknown, Seed Software, Information Technology, Manufacturing $470k–$21M
Money Forward Venture Partners
VC Fund
5 Japan, United States, Hong Kong Seed, Series A Information Technology, Software, Artificial Intelligence $644k–$33M
Hakuhodo DY Ventures
VC Fund
4 Japan, Australia, Singapore Series A, Series B Marketing, Health Care, Information Technology $1.8M–$14M
Global Brain Corporation
VC Fund
4 Japan, United States, United Kingdom Series A, Series B, Venture - Series Unknown Software, Artificial Intelligence, Information Technology $602k–$48M
DBJ Capital
VC Fund
3 Japan, United States, Australia Series A, Venture - Series Unknown, Series B Software, Health Care, Biotechnology $887k–$34M
VOYAGE VENTURES
VC Fund
3 Japan, China, Germany Venture - Series Unknown, Seed, Series A Software, Internet, Content $190k–$7.1M
SMBC Venture Capital
VC Fund
3 Japan, United States, Singapore Venture - Series Unknown, Series A, Series B Information Technology, Software, Health Care $800k–$34M
MT Partners
VC Fund
2 Japan Seed, Angel, Series A Apps, Beauty, EdTech $134k–$918k
ENEOS
VC Fund
2 Japan, United States, India Venture - Series Unknown, Series B, Seed Energy, Robotics, Clean Energy $180k–$101M
TEPCO Ventures
VC Fund
2 Japan Seed, Series A Energy, Retail, Renewable Energy
Spiral Ventures
VC Fund
2 Japan, Indonesia, India Seed, Series A, Series B E-Commerce, Information Technology, Internet $500k–$15M
Toppan Printing
VC Fund
2 Japan, United States, India Venture - Series Unknown, Corporate Round, Series B Software, Financial Services, Health Care $124k–$553M
East Ventures
VC Fund
2 Japan, Indonesia, Singapore Seed, Series A, Venture - Series Unknown Software, Information Technology, E-Commerce $250k–$30M
NOW Japan
VC Fund
2 Japan Seed, Venture - Series Unknown, Series A Content, Software, Marketing $13k–$5M
Genesia Ventures
VC Fund
2 Japan, Vietnam, Indonesia Seed, Series A, Venture - Series Unknown Information Technology, Software, Artificial Intelligence $404k–$11M
Energy & Environment Investment
VC Fund
2 Japan, United States, Canada Series A, Venture - Series Unknown, Series B Energy, Software, Internet of Things $915k–$96M
MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
VC Fund
2 Japan, United States, India Venture - Series Unknown, Seed, Series A Software, Information Technology, Manufacturing $482k–$16M
JAFCO Group
VC Fund
2 Japan, United States Series B, Series C Information Technology, Software, E-Commerce $3.1M–$283M
SBI Shinsei Corporate Investment
VC Fund
2 Japan Series A, Venture - Series Unknown, Series B Apps, Energy, Retail $1.5M–$3.5M
Hakuhodo DY Media Partners
VC Fund
2 Japan Venture - Series Unknown, Series A Media and Entertainment, Content, Video $6.9M–$36M
XTech Ventures
VC Fund
2 Japan, Italy, United Arab Emirates Seed, Series A, Venture - Series Unknown Software, Information Technology, Artificial Intelligence $480k–$11M
Coral Capital
VC Fund
2 Japan, United States, Denmark Seed, Series A, Series B Software, Information Technology, SaaS $468k–$184M
Life Design Fund
VC Fund
2 Japan Series A, Series B, Series C Retail, Diving, EdTech $4.3M–$31M
STRIVE
VC Fund
2 Japan, India, Indonesia Seed, Series A, Series B Software, Internet, E-Commerce $560k–$37M
Yokohama Capital
VC Fund
2 Japan Venture - Series Unknown, Series A, Series B Artificial Intelligence, Software, Health Care $272k–$18M
Agribusiness Investment Development
VC Fund
2 Japan Series A, Series B, Seed Food and Beverage, Agriculture, Manufacturing $1.4M–$31M
W ventures
VC Fund
2 Japan, Indonesia, United States Seed, Series A Information Technology, Content, Internet $382k–$37M
Headline Asia (formerly Infinity Ventures)
VC Fund
2 Japan, China, United States Seed, Series A, Series B Software, FinTech, Internet $408k–$28M
TOSHIBA TEC CORPORATION
VC Fund
2 Japan, New Zealand, United States Series A, Series B, Seed Software, Retail, Retail Technology $2M–$26M
JAFCO
VC Fund
2 Japan, United States, India Series A, Series B, Venture - Series Unknown Information Technology, Software, Artificial Intelligence $1.4M–$41M
Future Food Fund
VC Fund
2 Japan, United States, Denmark Series A, Venture - Series Unknown, Series B Food and Beverage, Agriculture, Food Processing $1.2M–$26M
Chushin Venture Capital
VC Fund
1 Japan Series A, Seed, Series B Biotechnology, Manufacturing, Medical $955k–$15M
ANOBAKA
VC Fund
1 Japan, United States, India Seed, Venture - Series Unknown, Series A Artificial Intelligence, Software, Information Technology $283k–$10M
TD Investment
VC Fund
1 Japan Seed, Series A, Venture - Series Unknown Retail, Parking, Software
Gogin Capital
VC Fund
1 Japan, Kenya Series B, Series A, Seed Consulting, Manufacturing, Medical $755k–$82M
Monex Ventures
VC Fund
1 Japan, United States, China Seed, Series A, Venture - Series Unknown Software, Financial Services, FinTech $372k–$17M
ABC Dream Ventures
VC Fund
1 Japan, Singapore, United States Venture - Series Unknown, Series A, Seed Software, Advertising, Information Technology $354k–$43M
TLM
VC Fund
1 Japan, United States Seed, Angel, Series B Information Technology, Content, SNS $123k–$5.2M
Miraidoa
VC Fund
1 Japan, United States, Myanmar Venture - Series Unknown, Seed, Series A Manufacturing, Health Care, Information Technology $96k–$11M
Mizuho Bank
VC Fund
1 Japan, United States, Singapore Debt Financing, Post-IPO Debt Information Technology, Artificial Intelligence, Software $1.3M–$5.6B
GENDA Capital
VC Fund
1 Japan Series A Wellness, Analytics, Health Care
KEPPLE Capital
VC Fund
1 Japan Seed, Series A, Series B Retail, Content, Software
BASE Partners
VC Fund
1 Japan Seed, Series A Manufacturing, Task Management, Content
Asukanet
VC Fund
1 Japan Series A Artificial Intelligence, Retail, Robotics
CyberAgent
VC Fund
1 Japan, Indonesia, South Korea Seed, Series A Internet, Education, Advertising $28M–$142M
TIS Japan
VC Fund
1 Japan, Singapore, Indonesia Series C, Seed Software, Artificial Intelligence, Information Technology $740k–$496M
Daiwa Corporate Investment
VC Fund
1 Japan, United States, France Series A, Seed Software, Task Management, Internet $4.3M–$71M
B Dash Ventures
VC Fund
1 Japan, Taiwan, Switzerland Seed, Series A Internet, Information Technology, Apps $229k–$44M
Access all 375 VC funds in Japan Retail startups.

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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 8 investments in Japan Retail startups

Mizuho is the venture capital firm affiliated to Mizuho Bank, the second-largest Japanese bank in terms of assets. The firm has headquarters in Tokyo. The firm has ¥49.6 billion JPY under management, focusing on information technology and biotechnology investments. Over 600 Mizuho companies have gone public. According to Nikkei, Mizuho is the fifth-largest venture capital firm in Japan. Mizuho Capital was formed in 2002 by the merger of Fujigin Capital, Tokyo Venture Capital and IBJ Investment. Three firms were subsidiaries of Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan respectively.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 550
  • Round size: Series A $1.4M–$32M; Series B $2.4M–$47M; Venture - Series Unknown $661k–$11M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $92M in 2020

Portfolio highlights

  • CaTe — CaTe is based in Tokyo. CaTe develops and manufactures a Digital Therapeutic (DTx) for remote cardiac rehabilitation. Their invention allows heart disease patients to safely and successfully complete cardiac rehabilitation utilizing standing exercise in a confined space, such as at home, without the use of ergometers or similar instruments.
  • Flyle — Flyle provides a cloud based platform for product management helping customers to improve productivity & creativity in product development.
  • HEARTBEATS — HEARTBEATS builds fan engagement platforms and digital experiences for sports teams, artists, and entertainment brands.
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Incubate Fund
VC Fund · Tokyo, Tokyo, Japan · 7 investments in Japan Retail startups

Incubate Fund is an independent early-stage venture capital that specializes in providing capital to technology startups at the seed stage. The firm built a portfolio of over 300 companies in Asia, taking 12 companies to public and 20 companies to M&A exit since 2010.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 395
  • Round size: Seed $288k–$7.1M; Series A $1.8M–$20M; Venture - Series Unknown $368k–$9.2M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $127M in 2024

Portfolio highlights

  • Akari Hosho — Akari Hosho provides a group of trusted professionals, including lawyers and judicial scriveners. Akari Hosho provides a guarantee service.
  • Black Cat Carnival — Tell us about anything development-related. Our founder, who launched Niconico Live, SUGAR and GANMA! from scratch, helps with planning, design, development and operations.
  • Carbon CryoCapture — Carbon CryoCapture specializes in the carbon dioxide separation systems aimed at creating economically viable, energy-efficient, and genuinely sustainable CO2 separation and recovery technologies. The company is dedicated to deploying cost-effective, efficient systems for CO2 capture that integrate smoothly with current infrastructures, all whileenhancing energy consumption and production. This enables clients to attain zero emissions throughout the development and application of resources.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 5 investments in Japan Retail startups

Mitsubishi UFJ Capital is a venture capital firm focusing on life science, ICT, and high technology investments.

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Investment focus

  • Industry: Software, Information Technology, Manufacturing
  • Stage:Series A, Venture - Series Unknown, Seed
  • Geography: Japan, United States, Israel

Investor stats

  • Total investments: 689
  • Round size: Seed $470k–$16M; Series A $1.2M–$21M; Venture - Series Unknown $525k–$11M
  • Lead/follow: 10% lead, 90% follow
  • Last fund: May invest from a new fund soon — raised $94M in 2020

Portfolio highlights

  • Smart Craft —
  • Luxna Biotech — Luxana Biotech is a biotechnology firm dedicated to promoting the practical use of safe and effective nucleic acid therapies. Utilizing nucleic acid chemistry technology, the company strives to provide nucleic acid medicines to patients suffering from diseases that currently lack effective treatments.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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Money Forward Venture Partners
VC Fund · Tokyo, Tokyo, Japan · 5 investments in Japan Retail startups

Money Forward Venture Partners operates HIRAC FUND, a seed fund specializing in seed and early-stage startups.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Seed, Series A
  • Geography: Japan, United States, Hong Kong

Investor stats

  • Total investments: 51
  • Round size: Seed $644k–$12M; Series A $892k–$33M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $28M in 2020

Portfolio highlights

  • bellFace — bellFace is an InsideSales System specialized targetted for Business to business sales customer support.No log in, no installation required. No matter where you are, it connects in 5 seconds becacuse it operates in the browser (patented). The audio system is connected through the telephone lines, there is no interruption like with Web meetingsystems. bellFace which is specific to sales, comes with document sharing and script function, so your experience is just like face to face communication . It is also suited for inside sales.
  • WineBank — "WineBank" is a real-time online wine management and investment solution that we offer. In addition to operating a restaurant, it runs a sales company for food, drink, and other items.
  • Mourning Clothes Rescue — Mourning Clothes Rescue operates a specialized clothing rental model utilizing automated, 24-hour unmanned storefronts. Users complete reservations and payments through smartphones to instantly access physical retail outlets via smart locks. This continuous availability solves the immediate challenge of acquiring formal attire on short noticeduring unexpected bereavement. By removing traditional staff overhead, the system passes cost efficiencies to consumers while providing private, on-site fitting options and long-term rental periods.
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Hakuhodo DY Ventures
VC Fund · Minato, Chiba, Japan · 4 investments in Japan Retail startups

Hakuhodo DY Ventures is a corporate venture capital firm.

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Investment focus

  • Industry: Marketing, Health Care, Information Technology
  • Stage:Series A, Series B
  • Geography: Japan, Australia, Singapore

Investor stats

  • Total investments: 74
  • Round size: Series A $1.8M–$12M; Series B $4.6M–$14M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Creator's X — Creator's X is an anime production firm that focuses on developing animation production assistance tools using AI.
  • Knowledge Work — Knowledge Work specializes in the development and sales of software for companies.
  • Third Intelligence — Third Intelligence is an AI research and development firm dedicated to producing a new type of intelligence and achieving artificial general intelligence (AGI). Through cutting-edge research, advanced algorithm development, and large-scale computing capabilities, the company aims to push the boundaries of machine cognition, enabling systems thatcan reason, learn, and adapt across diverse domains.
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Global Brain Corporation
VC Fund · Tokyo, Tokyo, Japan · 4 investments in Japan Retail startups

Global Brain Corporation is a venture capital firm that invests in companies from seed or early to pre-IPO startups. Global Brain has invested in 300+ startups from seed/early to pre-IPO startups and achieved 25 IPOs and 61 M&As as a result of providing hands-on support services and resources to its portfolio startups. Global Brain has managed a pure investment fund as well as multiple corporate venture capital funds partnered together with tier 1 public companies of telecom, real estate development, financial service, beverages, agriculture food, logistics, and electronic devices.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: Japan, United States, United Kingdom

Investor stats

  • Total investments: 834
  • Round size: Series A $1.9M–$31M; Series B $3.4M–$48M; Venture - Series Unknown $602k–$10M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely actively investing — fresh fund, raised $65M in 2025

Portfolio highlights

  • Josys — Stop letting runaway SaaS costs & unsecured SaaS access ruin your day. Josys is the only SaaS Management Platform that provides true 360-degree control.
  • Essen — Essen is a technological company that specializes in mobility and data analysis, as well as using data to improve transportation.
  • Deeping Source — Real-time Video Analytics based on Data Anonymization. High-accuracy computer vision for large-scale spaces: hypermarkets, shopping malls, convention centers, hospitals, logistics warehouses, construction sites, etc.
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DBJ Capital
VC Fund · Otemachi, Tokyo, Japan · 3 investments in Japan Retail startups, 15 in the past 12 months

DBJ Capital Co., Ltd. was founded in June 2010 through the integration of two venture capital firms of the DBJ Group, New Business Investment Co., Ltd. and Intellectual Properties Development & Investment, Inc. We are a wholly-owned subsidiary of Development Bank of Japan Inc. At DBJ Capital, we focus on venture firms which use new technologies and business models to grow and compete on the global market, regardless of their industry or scale. To meet the particular needs of each client, we mobilize the entire DBJ Group to arrange the best investment solutions, ranging from growth-spurring equity investment to financing schemes drawing on DBJ's vast networks. We also assist in venture start-ups. Our value enhancement team provides the kind of comprehensive, hands-on support needed to commercialize outstanding intellectual property and technologies developed by firms, research labs, and universities, and to carve out a place for them in the market. DBJ Capital will continue to play in a part in Japan's economic revival - by helping the firms we invest in to grow, and by encouraging the creation of new industries in Japan.

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Investment focus

  • Industry: Software, Health Care, Biotechnology
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: Japan, United States, Australia

Investor stats

  • Total investments: 168
  • Round size: Series A $2.4M–$17M; Series B $4.6M–$34M; Venture - Series Unknown $887k–$9.5M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Facilo — Facilo is a real estate communication provider that uses cloud computing to enhance sales and ease transactions of real estate brokerage.
  • MOT — MOT manages and supports the business activities of writers, particularly manga artists, while also operating “Kakikomi,” an online manga school that provides aspiring artists with education, guidance, and practical training to develop their creative skills.
  • Spectronix — Spectronics is a development of new technologies and new applications to bring about innovation, focusing on the future of laser technology.
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VOYAGE VENTURES
VC Fund · Tokyo, Tokyo, Japan · 3 investments in Japan Retail startups

Voyage Ventures is the venture capital arm of Voyage Group specializing in seed and early-stage investments. The firm seeks to make investments in the internet and mobile internet industry. It invests from JPY1 million ($.01million) to JPY to 10 million ($.12 million) in its portfolio companies. The firm typically invests in Japan, China, and other growing Asian markets. Voyage Ventures, Inc., formerly known as EC Navi Ventures Company, was founded on March 25, 2011, and is based in Tokyo, Japan.

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Investment focus

  • Industry: Software, Internet, Content
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Japan, China, Germany

Investor stats

  • Total investments: 72
  • Round size: Seed $200k–$7.1M; Series A $913k–$4.4M; Venture - Series Unknown $190k–$2.7M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • pickupon — Pickupon is a SaaS product that automatically records and inputs calls.
  • Bravesoft — bravesoft is a software company that operates events and in-house product for contract development and events. The company offering services such as UI / UX design, application consignment development service, appvisor push, and technical research service.
  • HEARTBEATS — ventus is an Media and Entertainment based company.ventus aiming to be an entertainment company that provides technology that all fans can enjoy.
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SMBC Venture Capital
VC Fund · Tokyo, Tokyo, Japan · 3 investments in Japan Retail startups

Sumitomo Mitsui Banking Corporation (SMBC) and its group companies offer a broad range of financial services centered on banking. They are also engaged in the leasing, securities, credit card, investment, mortgage securitization, venture capital and other credit related businesses. The following lists the activities of SMBC, its subsidiaries and affiliates in the various business segments.

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Investment focus

  • Industry: Information Technology, Software, Health Care
  • Stage:Venture - Series Unknown, Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 672
  • Round size: Series A $1.1M–$32M; Series B $2.3M–$34M; Venture - Series Unknown $800k–$12M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • LQUOM — QWAVE offers cryptography communication technology.
  • Etaily — Etaily provides e-commerce and retail solutions in the Philippines, enabling brands with end-to-end services, from store management to fulfillment.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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MT Partners
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

MT Partners provides real estate management and financial services.

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Investment focus

  • Industry: Apps, Beauty, EdTech
  • Stage:Seed, Angel, Series A
  • Geography: Japan

Investor stats

  • Total investments: 9
  • Round size: Seed $134k–$918k
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • BeatFit — BeatFit is a fitness-tech startup based in Japan.
  • Milamore — Milamore reimagines Kintsugi in fine jewelry, transforming cracks into golden threads. Designed in New York, handcrafted in Japan.
  • manebi — manebi is an Career development support platform business to support human transformation.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
ENEOS
VC Fund · Otemachi, Tokyo, Japan · 2 investments in Japan Retail startups

Website of ENEOS.

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Investment focus

  • Industry: Energy, Robotics, Clean Energy
  • Stage:Venture - Series Unknown, Series B, Seed
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 19
  • Round size: Seed $2.2M–$4.1M; Series B $9.2M–$30M; Venture - Series Unknown $180k–$101M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Zypp Electric — Rent electric 2W scooters & 3W Loader with Zypp. Affordable EV rental solutions for delivery partners & businesses. Eco-friendly last-mile delivery.
  • Glydways — Glydways, formerly Wayfarer is a transportation technology and clean energy company based in South San Francisco, California. It specializes in the design, manufacture, installation, and operation of affordable autonomous transportation for low, medium, and extremely high-capacity needs.
  • Green Revolution Cooling — Green Revolution Cooling they provide cooling technologies, that help companies to grow computing power sustainably, and limitlessly.
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TEPCO Ventures
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

TEPCO Ventures is a corporate venture capital investment arm of TEPCO Group. The company was founded in May 2018 and is headquartered in Chiyoda-ku, Tokyo, Japan.

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Investment focus

  • Industry: Energy, Retail, Renewable Energy
  • Stage:Seed, Series A
  • Geography: Japan

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Trende — TRENDE is an online renewable energy retailer selling electricity to residential customers in Japan via its Ashita Denki (https://ashita-denki.jp/) and Hot Denki (https://hotdenki.jp) service websites. TRENDE expects its Ashita Denki and Hot Denki services to accelerate the widespread adoption of solar power in Japan. Atwhich point, the company aims to leverage blockchain technology to create a peer-to-peer (P2P) marketplace for producers and consumers of renewable energy. Investors include Tokyo Electric Power, Itochu, Idemitsu Showa Shell and Dubai Electricity and Water Authority (DEWA). The company is led by serial entrepreneurs, Jeffrey Char and Tadatoshi Senoo and takes an environmentally responsible approach to provide consumers with clean and affordable energy. For more information, please visit http://trende.jp/.
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Spiral Ventures
VC Fund · Singapore, Central Region, Singapore · 2 investments in Japan Retail startups

Our former entity “IMJ Investment Partners” was established in 2012 by IMJ Corporation (“IMJ”), a major digital marketing company, as an independent venture capital subsidiary in Japan. After IMJ was acquired by Culture Convenience Club (“CCC”) in 2013, we continued our investment activities independently, and eventually relocated our office toSingapore to change our strategy and start a venture capital fund for the Southeast Asia market. In 2015, we established the Japan office and started a venture capital fund for the Japanese market.In tandem with the expansion of our business, we left the CCC Group, changed our name to “Spiral Ventures” in 2017, and made a fresh start as an independent venture capital firm.taken from https://spiral-ventures.com/en/group-info/

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Investment focus

  • Industry: E-Commerce, Information Technology, Internet
  • Stage:Seed, Series A, Series B
  • Geography: Japan, Indonesia, India

Investor stats

  • Total investments: 106
  • Round size: Seed $500k–$4M; Series A $1.4M–$9.3M; Series B $2M–$15M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: May invest from a new fund soon — raised $64M in 2018

Portfolio highlights

  • Bumame — Bumame menghadirkan layanan kesehatan terpadu, medical check up, vaksinasi, konsultasi dokter, dan informasi kesehatan.
  • TWO — TWO is a health and wellness company that offers innovative lifestyle solutions 2foods, a line of healthy and delicious food products.
  • SPUN — The most reliable online visa platform in Indonesia with 24/7 dedicated assistance and money-back guarantee.
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Toppan Printing
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Toppan Printing Co., Ltd. provides commercial printing and related services worldwide. It operates in three segments: Information & Networks, Living Environment, and Electronics. The Information & Networks segment provides commercial printing services for posters, catalogs, pamphlets, flyers, calendars, pop materials, and gifts, as well asoffers design and event services, sales promotion planning, multimedia-related activities, and database and network system design and operation services; and publications printing services magazines and books, as well as CDROMs, DVDs, and other electronic publications. It also offers securities, such as stocks, bonds, gift certificates, and product coupons; cards comprising magnetic cards and prepaid cards; and develops and designs IC card systems, IC tag systems, and security management systems.

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Investment focus

  • Industry: Software, Financial Services, Health Care
  • Stage:Venture - Series Unknown, Corporate Round, Series B
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 48
  • Round size: Series B $3M–$553M; Corporate Round $124k–$13M; Venture - Series Unknown $2.3M–$29M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • nat — Driven by the vision of "IMPACT THE SOCIETY", we are dedicated to creating innovative products that transform everyday life and work. By bringing these solutions to life and integrating them into society, we aspire to make our products and services become an indispensable part of people's daily lives.
  • Ascenders — Ascenders is a sports human resources business platform.
  • Chitose Group — In order to contribute to the realization of a world that is abundant and which lasts for at a thousand years and beyond, we are developing businesses that make use of the capabilities of living organisms (mainly microorganisms, algae, and mammalian cells).
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East Ventures
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

East Ventures is an early stage venture capital (VC) focused on Southeast Asia, Indonesia & Japan. Success cases include Tokopedia, Traveloka, and Mercari.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, Indonesia, Singapore

Investor stats

  • Total investments: 693
  • Round size: Seed $250k–$5M; Series A $1.9M–$30M; Venture - Series Unknown $366k–$30M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $150M in 2022

Portfolio highlights

  • Sisuta — Sisuta is a purpose-driven organization committed to addressing fundamental social issues by seamlessly integrating human insight with advanced technology, creating innovative solutions that empower individuals, strengthen communities, and unlock the full potential of both people and digital tools to drive sustainable social impact.
  • BASE — BASE provides web-based services that develop and build e-commerce platforms. The company provides its services across Japan, such as net shop creation, development of shopping applications, development of online payment, and other services.
  • EveryWill — Every WiLL will hasten the creation of a new logistical infrastructure that addresses social problems, beginning with the "way we receive" our products.
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NOW Japan
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Next One for the World.

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Investment focus

  • Industry: Content, Software, Marketing
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Japan

Investor stats

  • Total investments: 67
  • Round size: Seed $90k–$4.3M; Series A $880k–$5M; Venture - Series Unknown $13k–$2.8M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Sinumy — Sinumy develops touchless identity authentication technology and high-speed, high-precision position measurement technology.
  • Sisuta — Sisuta is a purpose-driven organization committed to addressing fundamental social issues by seamlessly integrating human insight with advanced technology, creating innovative solutions that empower individuals, strengthen communities, and unlock the full potential of both people and digital tools to drive sustainable social impact.
  • Tohakusha — Tohakusha is a creative agency that offers design, production and sale of digital content and EC websites, and content creation services.
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Genesia Ventures
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Genesia Ventures is a venture capital firm focused on seed/early stage startups in Japan and Southeast Asia. Since it's inception in Dec 2016, Genesia Ventures has invested in over 90 companies in Japan, Indonesia, Vietnam, Singapore and the US. Genesia Ventures invests in various sectors: SaaS, marketplace, Media, Finance, Insurance, RealEstate, Healthcare, Medical, Travel, Education, Manufacturing, Construction, HR, Agriculture, Sports, Retail, Entertainment, etc.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, Vietnam, Indonesia

Investor stats

  • Total investments: 241
  • Round size: Seed $462k–$5.7M; Series A $1.2M–$11M; Venture - Series Unknown $404k–$2.1M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $110M in 2022

Portfolio highlights

  • THE PHAGE — The phage is a medical device company that focuses on developing AI technology to predict postprandial blood glucose levels.
  • AI Mage — AI Mage is an IT company that provides AI solutions for anime production business industries.
  • Umami United — Umami United is a plant-based food brand with unique focus on Japanese food technologies and traditional ingredients to make delicious and healthy food to unite people at one table. The wide lineups are designed to be vegan-friendly, buddhist friendly, and halal friendly for all.
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Energy & Environment Investment
VC Fund · Higashi-shinagawa, Tokyo, Japan · 2 investments in Japan Retail startups, 12 in the past 12 months

Energy & Environment Investment, Inc. (EEI) is Japan’s first venture capital specialized in the clean technology sector. With core members who have rich hands on experience in founding and managing venture companies, we aim to provide risk money and various strategic values to promising venture companies and businesses.

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Investment focus

  • Industry: Energy, Software, Internet of Things
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: Japan, United States, Canada

Investor stats

  • Total investments: 134
  • Round size: Series A $2.2M–$14M; Series B $3.7M–$96M; Venture - Series Unknown $915k–$13M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $9.1M in 2019

Portfolio highlights

  • Esa — Esa offers plastic waste recycling, and also the development and distribution of plastic products
  • ElleThermo — elleThermo aims to implement Semiconductor-Sensitised Thermal Cells (STCs), an energy conversion technology that can generate electricity from unused waste heat above room temperature.
  • Advance Composite — Advance Composite is a manufacturing company that develops composite materials and molten metal forging-based products.
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MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

MSIVC is a venture capital firm that invests in Japanese and global startups scaling to IPO. It focuses on startups in verticals of Fintech, SaaS, Healthcare, AI, E-Commerce, Foodtech, and Environment etc.

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Investment focus

  • Industry: Software, Information Technology, Manufacturing
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 330
  • Round size: Seed $482k–$12M; Series A $1.2M–$16M; Venture - Series Unknown $957k–$8.3M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: Likely still investing — raised $88M in 2021

Portfolio highlights

  • 9lione — 9lione is a cloud drug management system that can perform complicated drug management easily. It uses optical character recognition technology (OCR) whereas information can be read simply by taking a prescription, and drug inventory lists are automatically created and updated. It was established on August 8, 2018, and is headquartered in Tokyo,Japan.
  • Peco Free — Peco Free is a school meal pre-order service that is selected using a smartphone.
  • Smart Craft —
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JAFCO Group
VC Fund · 2 investments in Japan Retail startups

JAFCO Group is a venture capital firm that primarily invests in domestic and foreign private companies.

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Investment focus

  • Industry: Information Technology, Software, E-Commerce
  • Stage:Series B, Series C
  • Geography: Japan, United States

Investor stats

  • Total investments: 37
  • Round size: Series B $3.7M–$283M; Series C $3.1M–$198M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Parallel — Parallel is the hangout app where you can enjoy games, videos, music, and more with friends.
  • Blue Laser Fusion — Blue Laser Fusion is a commercial fusion company. Blue Laser Fusion is a laser startup to commercialize laser fusion by inventing its own laser and fusion reactor.
  • Nanofiber Quantum Technologies — Discover how NanoQT builds the foundation for scalable quantum computing with nanofiber cavity-QED technology and high-fidelity quantum connectivity.
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SBI Shinsei Corporate Investment
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

SBI Shinsei Corporate Investment is an investment company that manages funds with disciplined and rational judgment in venture investments and buyout investments.

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Investment focus

  • Industry: Apps, Energy, Retail
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: Japan

Investor stats

  • Total investments: 8
  • Round size: Series A $1.5M–$3.5M; Venture - Series Unknown $2.4M–$3.2M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Light — Light is a software development company that allows streamers and viewers to connect in real time through an application.
  • Think Nature — Think Nature is a researcher startup that specializes in the solutions related to the sustainability of biodiversity and ecosystem services.
  • AOI Biosciences — AOI Biosciences is a biotechnology company that creates testing and drug discovery businesses.
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Hakuhodo DY Media Partners
VC Fund · Minato, Chiba, Japan · 2 investments in Japan Retail startups

Hakuhodo DY Media Partners is committed to designing media strategies that build value for media and produce more effective communication.

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Investment focus

  • Industry: Media and Entertainment, Content, Video
  • Stage:Venture - Series Unknown, Series A
  • Geography: Japan

Investor stats

  • Total investments: 13
  • Round size: Venture - Series Unknown $6.9M–$36M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Nyle — Nyle is a web consulting company specialized in providing web solutions for internet media businesses.
  • BitStar — BitStar is the EnterTech company that accelerates the growth of video creators and content with our proprietary data and technology.
  • Stepdays — stepdays is a media management, Contents production, Consulting, wholesale, retail, and other related businesses.stepdays aim to contribute to the bottom-up of the entire industry.
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XTech Ventures
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

XTech Ventures aims to achieve dramatic growth for investee companies by supporting entrepreneurship, multifaceted management support, and IPO support for the excellent middle class who are enthusiastic about entrepreneurship.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, Italy, United Arab Emirates

Investor stats

  • Total investments: 119
  • Round size: Seed $480k–$3.7M; Series A $1.1M–$7.8M; Venture - Series Unknown $549k–$11M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $27M in 2018

Portfolio highlights

  • Yondemy — Yondemy is an online platform for children reading books.
  • Yokohama Vanilla — Yokohama Vanilla is a Company which operates Yokohama-based gift sweets brand.
  • Zeal Boxing Fitness — Zeal Boxing Fitness combines power of sports with the power of technology to provide a service that allows to enjoy fitness.
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Coral Capital
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups, 12 in the past 12 months

Coral Capital is a seed stage venture capital firm in Japan.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: Japan, United States, Denmark

Investor stats

  • Total investments: 111
  • Round size: Seed $468k–$8.5M; Series A $3.2M–$41M; Series B $7.6M–$184M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely actively investing — fresh fund, raised $6M in 2026

Portfolio highlights

  • Facilo — Facilo is a real estate communication provider that uses cloud computing to enhance sales and ease transactions of real estate brokerage.
  • Albert Invent — 1000’s of scientists, technicians, and engineers across 30+ countries rely on Albert’s end-to-end Cloud Platform to accelerate the innovation of new materials. With Albert, R&D organizations get the data insights and tools needed to increase speed to market, automate regulatory compliance, and heighten the impact of new products.Built fromthe ground up for the chemical and material science industry, the Albert Platform connects R&D processes and creates a single data source of truth across the R&D organization. Augmented with AI, machine learning and a comprehensive materials database, key platform functionality includes inventory, worksheets, workflows, tasks, and more. www.albertinvent.com
  • DeltaForesight — DeltaForesight is a business that creates B2B services and goods with a focus on stablecoins and cryptocurrencies. In order to develop solutions that may be applied in Japan, it emphasizes bridging laws, business practices, and technological advancements.
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Life Design Fund
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Life Design Fund is a corporate venture capital firm that invests in startups to help address problems for our customers and communities.

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Investment focus

  • Industry: Retail, Diving, EdTech
  • Stage:Series A, Series B, Series C
  • Geography: Japan

Investor stats

  • Total investments: 6
  • Round size: Series B $4.3M–$31M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • T2 — T2 Co offers services like automatic driving of huge trucks to provide a trunk transportation service.
  • Carjany — Carjany is a startup company that redefines the test drive and new car purchasing experience by leveraging innovative technology and user-centric design. By simplifying the process and offering more flexible, transparent, and convenient solutions, Carjany aims to make buying a new car more accessible, efficient, and enjoyable for modern consumers.
  • PlaceHolder — Placeholder is a space value creation company that provides people with inspiring and exciting experiences by fusing digital technology and real space.
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STRIVE
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

STRIVE focuses on investing in early-stage (Seed to Series A) internet and mobile companies. It seeks out companies in Japan, Southeast Asia, and India with top-notch management teams and strong market potential. It is not tied to strategic investments for GREE Inc. and leverages its pan-Asia expertise for guiding its portfolio in an engaged, hands-on role.

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Investment focus

  • Industry: Software, Internet, E-Commerce
  • Stage:Seed, Series A, Series B
  • Geography: Japan, India, Indonesia

Investor stats

  • Total investments: 157
  • Round size: Seed $560k–$6.5M; Series A $1.2M–$20M; Series B $3.3M–$37M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $10B in 2019

Portfolio highlights

  • ASUENE — Asuene involves in clean power retail business, retail SaaS business, etc.
  • Recompound — Recompound is a financial services startup that acts as a personal investment advisor for individuals to grow their stock market portfolios.
  • Testsigma — Powerful cloud-based test automation platform that lets you automate tests for web, mobile, desktop apps, and APIs in minutes. Sign up now!
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Yokohama Capital
VC Fund · Yokohama, Kanagawa, Japan · 2 investments in Japan Retail startups

Yokohama Capital as a venture capital firm conducts investment and rehabilitation support for small and medium-sized companies.

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Investment focus

  • Industry: Artificial Intelligence, Software, Health Care
  • Stage:Venture - Series Unknown, Series A, Series B
  • Geography: Japan

Investor stats

  • Total investments: 52
  • Round size: Series A $272k–$16M; Series B $2.8M–$18M; Venture - Series Unknown $971k–$9.2M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • JPYC — JPYC is a financial institution that issues the community stablecoin JPYC, which is pegged to the yen of Japanese. They want to create a society where everyone can develop by fusing the real world with the world of cryptocurrencies and increasing the liquidity of capital to achieve their goal of overcoming the social conundrum. It will promotecapital's liquidity and create an environment that helps in development for all.
  • 9lione — 9lione is a cloud drug management system that can perform complicated drug management easily. It uses optical character recognition technology (OCR) whereas information can be read simply by taking a prescription, and drug inventory lists are automatically created and updated. It was established on August 8, 2018, and is headquartered in Tokyo,Japan.
  • Varinos — Varinos is a clinical laboratory contract analysis company that is a partner of medical institutions. Varinos provides genomic testing development and contract analysis services using the latest technology, the next-generation sequencer.
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Agribusiness Investment Development
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Agribusiness Investment Development is a venture capital firm that offers agriculture investment for agricultural corporations. It was established in 2002 and is based in Tokyo, Japan.

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Investment focus

  • Industry: Food and Beverage, Agriculture, Manufacturing
  • Stage:Series A, Series B, Seed
  • Geography: Japan

Investor stats

  • Total investments: 20
  • Round size: Seed $1.4M–$1.4M; Series A $1.6M–$31M; Series B $2.6M–$12M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • KAICO — KAICO is a pharmaceuticals, diagnostic drugs production company.
  • kikitori — kikitori engages in the development and operation of applications and web systems in the fruit and vegetable distribution field.
  • Newlocal — Newlocal offers planning, development, and consulting services related to real estate, construction, and community development sectors.
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W ventures
VC Fund · Shibuya, Kanagawa, Japan · 2 investments in Japan Retail startups

W Ventures is a Berlin based Venture Design and Venture Capital company that offers a complete framework for the acceleration of digital business ideas.

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Investment focus

  • Industry: Information Technology, Content, Internet
  • Stage:Seed, Series A
  • Geography: Japan, Indonesia, United States

Investor stats

  • Total investments: 76
  • Round size: Seed $382k–$14M; Series A $1.3M–$37M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $45M in 2019

Portfolio highlights

  • Anaguma — Anaguma handles business development based on the philosophy of helping people with a sustainable structure. The company's business objective is to eliminate concerns about purchases and reservations, and it delivers before-sales social networks. It also provides matching services exclusively for housekeepers' personal contracts. Thecompany also offers influencer marketing services with a focus on removing waste completely from advertising and realizing a world in which good products can be sold regardless of advertising costs.Anaguma was founded in January 2016 and is headquartered in Tokyo, Japan.
  • Ness — Ness is a tech company that offers 3 service websites and analytic tools for NFT marketing tool, TikTok product and NFT holders.
  • Visual Bank — Visual Bank operates a stock photo business and provides an AI data platform. It aims to create a society in which the value of Japanese creations is maximized and optimized.
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Headline Asia (formerly Infinity Ventures)
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global.

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Investment focus

  • Industry: Software, FinTech, Internet
  • Stage:Seed, Series A, Series B
  • Geography: Japan, China, United States

Investor stats

  • Total investments: 153
  • Round size: Seed $408k–$10M; Series A $2M–$15M; Series B $2.2M–$28M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely actively investing — fresh fund, raised $145M in 2025

Portfolio highlights

  • Recri — Recri works for the entertainment industry and specializes in operations management tasks like ticketing for stage, film, and music shows.
  • Letara — Letara operates a space technology platform with the intention to serve a logistics network covering the solar system. The company produces hybrid propulsion engines for small spacecraft, promoting groundbreaking advances in space propulsion with high thrust, safe, and inexpensive propulsion system technology.
  • AI Mage — AI Mage is an IT company that provides AI solutions for anime production business industries.
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TOSHIBA TEC CORPORATION
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Retail solutions,Printing Solutions,Inkjet solutions,ODM solutions

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Investment focus

  • Industry: Software, Retail, Retail Technology
  • Stage:Series A, Series B, Seed
  • Geography: Japan, New Zealand, United States

Investor stats

  • Total investments: 10
  • Round size: Seed $3.6M–$9.5M; Series A $2M–$2.1M; Series B $5.7M–$26M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Ukka — Ukka is a Creating the ideal form of food and agriculture.
  • Logiless — Logiless is a cloud type all-in-one software dedicated to net shop. Since both orders and stocks can be managed together in a logical manner, efficiency of operations can be realized at low cost.
  • MUSE — MUSE is a robotics company that provides robotic solutions for retail stores to support in-store operations.
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JAFCO
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups

Since its founding in 1973, JAFCO has always worked with leading-edge entrepreneurs. The total capital commitments of its investment funds in Japan and overseas have exceeded 1 trillion yen and the number of portfolio IPOs to date has reached over 1,000. In addition to venture investment, JAFCO also carries out buyout investment and commit to the creations of innovative technologies and services worldwide. As entrepreneurs’ closest partner in bringing their visions to life, JAFCO provides support in areas of HR, marketing/ sales, and back-office operations, in addition to providing financing.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 370
  • Round size: Series A $2.1M–$41M; Series B $4.2M–$36M; Venture - Series Unknown $1.4M–$13M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — raised $567M in 2019

Portfolio highlights

  • CaTe — CaTe is based in Tokyo. CaTe develops and manufactures a Digital Therapeutic (DTx) for remote cardiac rehabilitation. Their invention allows heart disease patients to safely and successfully complete cardiac rehabilitation utilizing standing exercise in a confined space, such as at home, without the use of ergometers or similar instruments.
  • ADiXi — Adixi is a tech-driven business that supports the idea that people and technology may work together. It strives to open doors by utilizing cutting-edge technology, such as artificial intelligence, to promote long-term, sustainable corporate and societal progress.
  • Alxtal — Alxtal is a tech company who optimize the development, design, and manufacturing processes of the manufacturing industry with IT and AI.
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Future Food Fund
VC Fund · Nishi-shinagawa, Tokyo, Japan · 2 investments in Japan Retail startups

Future Food Fund is a corporate venture capital company that specializes in the field of food.

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Investment focus

  • Industry: Food and Beverage, Agriculture, Food Processing
  • Stage:Series A, Venture - Series Unknown, Series B
  • Geography: Japan, United States, Denmark

Investor stats

  • Total investments: 26
  • Round size: Series A $1.2M–$26M; Series B $1.5M–$7.2M; Venture - Series Unknown $2.5M–$3.1M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $19M in 2019

Portfolio highlights

  • AlgaleX — AlgaleX is a food technology and biotechnology company that develops AI-powered algae fermentation technology to produce sustainable food ingredients, nutritional compounds, and bioproducts. The company leverages proprietary AI-driven cultivation and fermentation systems to convert underutilized food byproducts into high-value microalgae rich innutrients such as DHA, umami compounds, and other functional ingredients. Its mission is to build a circular bioeconomy by reducing food waste while providing sustainable alternatives to marine- and animal-derived ingredients.The company's core technology is Touji-24, an AI-powered algae cultivation and fermentation control system that automates and optimizes microalgae production. Using proprietary fermentation processes and food byproducts such as awamori lees, AlgaleX cultivates algae that can be used to produce Umamo, a plant-based ingredient combining seafood-like umami flavor with high concentrations of DHA. This approach reduces reliance on wild-caught fish as a source of omega-3 fatty acids while upcycling food industry byproducts into valuable nutritional ingredients.
  • Mycoverse — Mycoverse is a agri-biotech startup specializes in developing fungal-based biological crop protection solutions to replace chemical pesticides, targeting row crops with an initial focus on potato late blight.
  • GrubMarket — GrubMarket develops a website where sellers can offer foods and other items at wholesale prices to customers. It offers products such as organic foods, vegetables, gluten-free foods, snacks, drinks, pantries, home goods, health and beauty products, baby and kids' products, pets, non-GMO foods, paleo foods, cholesterol-free, and no trans-fatfoods.GrubMarket also offers foods from local farms, fisheries, commercial kitchens, certified home kitchens, and restaurants. Mike Xu founded GrubMarket in 2014, with its headquarters in Newark in California with an additional office in San Francisco in California.
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Chushin Venture Capital
VC Fund · Kyoto, Kyoto, Japan · 1 investments in Japan Retail startups

Chushin Venture Capital is a venture capital fund established by Kyoto Chuo Shinkin Bank.

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Investment focus

  • Industry: Biotechnology, Manufacturing, Medical
  • Stage:Series A, Seed, Series B
  • Geography: Japan

Investor stats

  • Total investments: 19
  • Round size: Seed $1.5M–$2M; Series A $955k–$8.1M; Series B $1.5M–$15M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — raised $2.7M in 2018

Portfolio highlights

  • AOI Biosciences — AOI Biosciences is a biotechnology company that creates testing and drug discovery businesses.
  • Spectronix — Spectronics is a development of new technologies and new applications to bring about innovation, focusing on the future of laser technology.
  • Toregem BioPharma — Toregem BioPharma is a startup from Kyoto University that develops a treatment for congenital adentia. Toregem BioPharma is headquartered in Kyoto, Japan.
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ANOBAKA
VC Fund · Shibuya, Kanagawa, Japan · 1 investments in Japan Retail startups, 13 in the past 12 months

ANOBAKA is a Tokyo-based venture capital firm with rich group resources to add value to seed-stage startups. ANOBAKA actively invests in and supports startups aiming to be a global leader in the innovative Internet business and promising to greatly grow up in the future. ANOBAKA's investment focuses on fledgling seed-stage startups. In addition to investment financing, ANOBAKA provides founders with a variety of business support such as development consulting by our engineers, sales support, and international marketing support.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 180
  • Round size: Seed $283k–$1.9M; Series A $944k–$10M; Venture - Series Unknown $389k–$2.8M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $31M in 2018

Portfolio highlights

  • IGU — IGU is a professional team dedicated to designing, refining, and delivering exceptional entertainment experiences. With a strong focus on creativity, quality, and innovation, IGU brings together talented professionals who transform ideas into engaging and memorable experiences.
  • GEMBA — GEMBA develops on-site improvement DX services specialising in the manufacturing industry.
  • NexusAdvisors — NexusAdvisors operates AvaCareer, an AI-powered recruitment platform that leverages intelligent AI agents to support both companies and job seekers by streamlining hiring processes, enhancing candidate matching, and improving recruitment efficiency.
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TD Investment
VC Fund · Tarumi, Hyogo, Japan · 1 investments in Japan Retail startups

TD Investment is a venture capital arm of TORIDOLL Holdings.

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Investment focus

  • Industry: Retail, Parking, Software
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan

Investor stats

  • Total investments: 3
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Akippa — Akippa is a Osaka based parking space reservation app company.
  • On The Slope — On the way to Sakano deliver vegetables grown without the use of pesticides and chemical fertilizers, aiming to spread agriculture with low environmental impact. We want to make agriculture sustainable and reach a sustainable society.
  • KitchenStarterGift Pad — kitchenstarter are struggling to launch a project with a lot of commitment!
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Gogin Capital
VC Fund · Matsue-shi, Shimane, Japan · 1 investments in Japan Retail startups, 14 in the past 12 months

Gogin Capital provides financial services and invests in insurance companies.

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Investment focus

  • Industry: Consulting, Manufacturing, Medical
  • Stage:Series B, Series A, Seed
  • Geography: Japan, Kenya

Investor stats

  • Total investments: 41
  • Round size: Seed $755k–$16M; Series A $1.7M–$82M; Series B $2.6M–$16M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $4.4M in 2017

Portfolio highlights

  • Letara — Letara operates a space technology platform with the intention to serve a logistics network covering the solar system. The company produces hybrid propulsion engines for small spacecraft, promoting groundbreaking advances in space propulsion with high thrust, safe, and inexpensive propulsion system technology.
  • Akiya — Akiya combines construction implementation, business design, and demand analysis.
  • Quantec — Quantec develops and provides laser processing technologies, equipment, and optical components, covering development, manufacturing, and sales.
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Monex Ventures
VC Fund · Minato, Chiba, Japan · 1 investments in Japan Retail startups

Monex Ventures is a venture capital firm based in Japan that finances seed and early stage investments in startup companies.

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Investment focus

  • Industry: Software, Financial Services, FinTech
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Japan, United States, China

Investor stats

  • Total investments: 99
  • Round size: Seed $372k–$2.9M; Series A $1M–$17M; Venture - Series Unknown $473k–$2.5M
  • Lead/follow: 12% lead, 88% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • HEAL-lll — HEAL-lll is a multifaceted firm that merges healthcare, technology, and gamification to promote individual and organizational well-being.
  • Pale Blue — Water propulsion systems for sustainable space development
  • Rise — Rise is a credit-led platform that enables underserved consumers to access installment-based purchasing power.
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ABC Dream Ventures
VC Fund · Osaka, Osaka, Japan · 1 investments in Japan Retail startups

ABC Dream Ventures is the corporate venture capital arm of Japanese media firm Asahi Broadcasting Group Holdings.

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Investment focus

  • Industry: Software, Advertising, Information Technology
  • Stage:Venture - Series Unknown, Series A, Seed
  • Geography: Japan, Singapore, United States

Investor stats

  • Total investments: 27
  • Round size: Series A $1.1M–$43M; Venture - Series Unknown $354k–$10M
  • Lead/follow: 11% lead, 89% follow
  • Last fund: May invest from a new fund soon — raised $16M in 2019

Portfolio highlights

  • TYPICA — TYPICA is a marketplace where you can directly trade unique and high quality green coffee beans in units of one bag.
  • At Forest — At Forest is an end-of-life service provider that organizes circular burial services for the deceased.
  • Sally — Sally is a company that turns people-to-people conversations into entertainment. It specializes in developing conversational reasoning games.
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TLM
VC Fund · Portland, Oregon, United States · 1 investments in Japan Retail startups

TLM is a venture capital that invests basically in seed rounds, including some Series A startups.

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Investment focus

  • Industry: Information Technology, Content, SNS
  • Stage:Seed, Angel, Series B
  • Geography: Japan, United States

Investor stats

  • Total investments: 26
  • Round size: Seed $180k–$4.3M; Angel $123k–$374k; Series B $723k–$5.2M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $418k in 2015

Portfolio highlights

  • Morght — Morght is an information technology service company.
  • Nanameue — Nanameue creating a new future that makes people smile and has a fun experience. Create your own place by connecting people to people in “nanameue” way.
  • Hogetic Lab — Hogetic Lab specialize in DCaaS, AI development, and Data human resources training.
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Miraidoa
VC Fund · Kyoto, Kyoto, Japan · 1 investments in Japan Retail startups, 10 in the past 12 months

Future Venture Capital Co., Ltd. is a venture capital firm specializing in early stage investment. The firm invests in diversified investment in a broad range of industrial sectors. It seeks to invest in Japan. The firm prefers to be the lead investor in its portfolio companies. Future Venture Capital Co., Ltd. was founded in 1998 and is based inKyoto, Japan with offices in Tokyo, Aomori, Iwate, Yamagata, Kanazawa, Mie, Sakai, Kobe, and Ehime.

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Investment focus

  • Industry: Manufacturing, Health Care, Information Technology
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Japan, United States, Myanmar

Investor stats

  • Total investments: 171
  • Round size: Seed $338k–$5.3M; Series A $1.2M–$11M; Venture - Series Unknown $96k–$4.6M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: May invest from a new fund soon — raised $2.5M in 2020

Portfolio highlights

  • Naorai — Naorai is a food and beverage firm that manufactures wine, beer, spirits, and non-alcoholic beverages.
  • Sinumy — Sinumy develops touchless identity authentication technology and high-speed, high-precision position measurement technology.
  • Dioseve — Dioseve is providing novel possibilities for all life.
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Mizuho Bank
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups, 90 in the past 12 months

Mizuho Bank is a commercial bank that began operation on July 1, 2013, with its headquarters in Tokyo in Japan. It offers corporate and investment banking services to major corporations, financial institutions, and public sector entities. It also provides current and ordinary, deposits at notice, time, and specified deposits, deposits for tax,nonresident deposits in yen, foreign currency deposits, negotiable time deposits and loans by bill, loans on a deed, and overdrafts as well as discounts for bank acceptances, commercial papers, and documentary bills. Moreover, it offers investment banking and custodial, syndication, bond administrative, real estate finance, acquisition finance and corporate restructuring, project, and asset finance services, settlement and asset management services. It operates as a subsidiary of Mizuho Financial Group.

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Investment focus

  • Industry: Information Technology, Artificial Intelligence, Software
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 313
  • Round size: Post-IPO Debt $150M–$5.6B; Debt Financing $1.3M–$925M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — last raise in 2014

Portfolio highlights

  • Polyuse — Polyuse Co., Ltd. is developing technology centered on "3D printers for construction" for the construction and civil engineering industries under the mission of "updating the construction industry with the power of technology".
  • Bank of India — Bank of India is a Nationalized bank with a presence in all the major trade centers of the world.
  • Atom — Atom is a humanoid robot built platform. Its bipedal, dual-armed robots are designed not just as industrial tools but as collaborators that expand human capability. By combining advanced Physical AI—environmental perception, judgment, and action planning—with robust robotic hardware, Atom is creating adaptive agents capable of working acrossdiverse settings to augment or, where appropriate, replace human labor. The company positions these robots as a next step in societal evolution: a new class of machines that learn and behave in human-like ways to advance productivity, safety, and quality of life.
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GENDA Capital
VC Fund · 1 investments in Japan Retail startups

GENDA Capital is an Investment firm.

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Investment focus

  • Industry: Wellness, Analytics, Health Care
  • Stage:Series A
  • Geography: Japan

Investor stats

  • Total investments: 5
  • Lead/follow: no public data

Portfolio highlights

  • mahocast — Mahocast operates a comprehensive business platform that supports every stage of an artist’s journey—from initial planning and content production to ongoing management and promotion.
  • Redcliff — Redcliff is a drone management company that organizes aerial shows and events for private and public organizations.
  • Wunderbar — Wunderbar provides intellectual property along with branding and marketing services.
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KEPPLE Capital
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

KEPPLE Capital is a venture capital firm that supports the growth of startups.

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Investment focus

  • Industry: Retail, Content, Software
  • Stage:Seed, Series A, Series B
  • Geography: Japan

Investor stats

  • Total investments: 10
  • Lead/follow: no public data

Portfolio highlights

  • Comvey — Comvey provides a shopping experience that is friendly to people and the earth. It primarily offers a foldable share bag online.
  • Carelogy — Carelogy is a medical technology company that offers AI for X-ray image analysis, voice recognition, and facial expressions.
  • COUNTERWORKS — Counter works is an Information technology company.
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BASE Partners
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

BASE Partners is an independent venture capital organization organized by members who are professionals in each field such as managers, entrepreneurs, engineers, designers and accountants, and who are also entrepreneurs at the same time.Early and middle, mainly in the seed stage before and after the establishment. Up to the stage, we invest inall entrepreneurs and their challenges, and we also provide hands-on management support to startups that lack resources, experience and networks as well as funding.

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Investment focus

  • Industry: Manufacturing, Task Management, Content
  • Stage:Seed, Series A
  • Geography: Japan

Investor stats

  • Total investments: 14
  • Lead/follow: no public data

Portfolio highlights

  • Sabu — Sabu is an online work agency that offers back-office operations, web production, and outsourcing services for the dental care industry.
  • Utill — Utill is anything that expands the possibilities of not only production but also our own services
  • Vesicle — Vesicle is a fruit and vegetable company that provides distribution and delivery of fresh vegetables.
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Asukanet
VC Fund · Hiroshima-shi, Hiroshima, Japan · 1 investments in Japan Retail startups

Asukanet is a digital photo processing service provider company.

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Investment focus

  • Industry: Artificial Intelligence, Retail, Robotics
  • Stage:Series A
  • Geography: Japan

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • AWL — AWL is a company that provides the leading edge AI camera solutions company .
  • Unirobot — Unirobot is a Development, manufacture, sale of next generation social robot.Development of general embedded software incidental to the above.Research and development on Personal AI (communication of natural language processing,.
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CyberAgent
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

CyberAgent, Inc. is mainly engaged in the integrated net business.The Company operates in five business segments. The Integrated Net Business segment is engaged in the advertisement agency business, the smart phone media business, as well as the sale of advertisements for smart phone. The Media Related segment is engaged in the social gamebusiness, the operation of mobile media and personal computer business. The Ameba Related segment is engaged in the operation of Websites Ameba and Ameba Pigg.

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Investment focus

  • Industry: Internet, Education, Advertising
  • Stage:Seed, Series A
  • Geography: Japan, Indonesia, South Korea

Investor stats

  • Total investments: 20
  • Round size: Seed $28M–$57M; Series A $115M–$142M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Call Doctor — Call Doctor offers visit requests, online medical treatment, and medical consultation. In a contemporary world where the need for medical care is evolving, the company seeks to provide the appropriate medical treatment to the appropriate people at the appropriate time. The Call Doctor app is used to request house calls, online physicals, andmedical consultations to receive safe and secure medical care.
  • Jago Coffee — Jago Coffee serves freshly brewed coffee beverages wherever you are through a fleet of fully electric mobile cafes.
  • Interstellar Technologies — Interstellar Technologies is a rocket development, manufacturing and launch service.
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TIS Japan
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

The gateway to TIS's corporate.Solution,and Group Information, Corporate Data, and more.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series C, Seed
  • Geography: Japan, Singapore, Indonesia

Investor stats

  • Total investments: 58
  • Round size: Seed $740k–$71M; Series C $7.5M–$496M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Logice — Logice delivers seamless cold chain solutions, improving reliability in warehouse, delivery, and processing.
  • Sembuh AI — Sembuh AI is an insurtech company that develops an AI‑based platform for health‑insurance claims processing. It focuses on automating high‑volume claims review, detecting fraud or anomalous claims, and reducing overpayments for insurers and third‑party administrators. The company acts as a claims‑automation and analytics layer rather than a directinsurer or payer.
  • StratifiCare — At StratifiCare, we focus on the development and manufacturing of IVD (In-Vitro Diagnostics) assay solutions for personalized medicine. With more than 50 years of cumulative in-depth experience in Biomedical R&D and technology commercialization, StratifiCare strives to empower personalised medicine.
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Daiwa Corporate Investment
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups, 6 in the past 12 months

Daiwa Corporate Investment is a private investment firm of Daiwa Securities Group that has been engaged in overseas VC investments by taking advantage of an extensive business network in Japan and foreign countries, long experience and professional knowledge, and by supporting the growth of a number of overseas portfolio companies and their stockexchange listings.

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Investment focus

  • Industry: Software, Task Management, Internet
  • Stage:Series A, Seed
  • Geography: Japan, United States, France

Investor stats

  • Total investments: 133
  • Round size: Seed $4.3M–$14M; Series A $4.5M–$71M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: May invest from a new fund soon — raised $1.5B in 2018

Portfolio highlights

  • NovAccel — NovAccel operates as a deep tech company, ensure a stable supply of medical radioisotopes.
  • AstroX — AstroX is a private space startup company that develops satellite launch vehicles for space development. It utilizes the rockoon method for developing launch vehicles and small rockets to help clients easily use space.
  • Sonire Therapeutics — Sonire Therapeutics provides High-Intensity Focused Ultrasound treatment for cancer.
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B Dash Ventures
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

B Dash Ventures does seed to late stage tech investments in Japan, Asia Pacific, and the U.S. LPs include Japan's largest technology companies and financial institutions including NTT Docomo, Mitsubishi UFJ Capital, GREE, NEC BIGLOBE, Fuji Television, and the Japanese government. B Dash Ventures also operates an incubation space inpartnership with Mori Building Co. and holds the invitation-based B Dash Camp conference.

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Investment focus

  • Industry: Internet, Information Technology, Apps
  • Stage:Seed, Series A
  • Geography: Japan, Taiwan, Switzerland

Investor stats

  • Total investments: 91
  • Round size: Seed $804k–$35M; Series A $229k–$44M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Yosemite — Yosemite is a wellness company that provides health and wellness products, supplements, skincare, and personal care items.
  • Innovative Space Carrier — Innovative Space Carrier is a aerospace company that offers space transportation systems, planning, drafting and technology strategies.
  • Interstellar Technologies — Interstellar Technologies is a rocket development, manufacturing and launch service.
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Retail VC funding in Japan at a glance

Stats across 267 deals from 375 investors.

375
investors
in Japan Retail startups
267
deals
in Japan Retail startups
$3.1M
median round
in Japan Retail startups
34%
lead investors
lead at least one round
25%
Venture - Series Unknown
most common funding stage

Access all 375 VC funds in Japan Retail startups.

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