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Top 50 Retail VC Funds & Investors in Japan (July 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 Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Mizuho Capital
VC Fund
7 Japan, United States, Singapore Series A, Series B Information Technology, Software, Internet $1.8M–$340M
Mitsubishi UFJ Capital
VC Fund
4 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $1.2M–$269M
Hakuhodo DY Ventures
VC Fund
4 Japan, Australia, Singapore Series A, Series B Marketing, Health Care, Information Technology $1.8M–$156M
SMBC Venture Capital
VC Fund
3 Japan, United States, Singapore Series A, Series B Information Technology, Software, Health Care $2.3M–$269M
DBJ Capital
VC Fund
3 Japan, United States, Australia Series A, Series B Software, Health Care, Medical $2.7M–$354M
MT Partners
VC Fund
2 Japan Seed, Series A Apps, Beauty, Energy
Coral Capital
VC Fund
2 Japan, United States, Denmark Seed, Series A, Series B Software, Information Technology, SaaS $1M–$184M
ENEOS
VC Fund
2 Japan, United States, India Series B, Series C Energy, Robotics, Clean Energy $1.3M–$160M
NOW Japan
VC Fund
2 Japan Seed, Series A Content, Marketing, Software $771k–$30M
Headline Asia (formerly Infinity Ventures)
VC Fund
2 Japan, China, United States Series A, Seed, Series B Software, Financial Services, FinTech $661k–$103M
Energy & Environment Investment
VC Fund
2 Japan, United States, Canada Series A, Series B Energy, Internet of Things, Software $2M–$553M
Genesia Ventures
VC Fund
2 Japan, Vietnam, Indonesia Seed, Series A Information Technology, Software, Health Care $774k–$50M
Hakuhodo DY Media Partners
VC Fund
2 Japan Series A, Seed Media and Entertainment, Content, Advertising
VOYAGE VENTURES
VC Fund
2 Japan, China, Germany Seed, Series A Software, Internet, Content $200k–$77M
SBI Shinsei Corporate Investment
VC Fund
2 Japan Series A, Series B, Venture - Series Unknown Apps, Energy, Retail $1.5M–$3.5M
Incubate Fund
VC Fund
2 Japan, United States, India Seed, Series A Software, Information Technology, E-Commerce $314k–$91M
Life Design Fund
VC Fund
2 Japan Series A, Series B, Series C Retail, EdTech, Leisure
Money Forward Venture Partners
VC Fund
2 Japan, United States, Hong Kong Seed, Series A Information Technology, Software, Artificial Intelligence $892k–$64M
Yokohama Capital
VC Fund
2 Japan Series A, Series B Software, Health Care, Information Technology $172k–$241M
Toppan Printing
VC Fund
2 Japan, United States, India Corporate Round, Series B Financial Services, Software, Health Care $2M–$553M
BASE Partners
VC Fund
1 Japan Seed, Series A Manufacturing, Task Management, Content
D2 Garage Japan
VC Fund
1 Japan Seed Apps, Water, Hunting
GURUNAVI
VC Fund
1 Japan Content, Education, E-Learning
KOZOCOM
VC Fund
1 Japan Series A Fruit, Retail, Wholesale
Miyagin Venture Capital
VC Fund
1 Japan Seed Medical, mHealth, Biopharma
POLAR SHORTCUT
VC Fund
1 Japan Retail, Manufacturing, Food Processing
OASIS FUND
VC Fund
1 Japan Retail, Manufacturing, Food Processing
Mitsubishi UFJ
VC Fund
1 Japan, United States, Malaysia Debt Financing, Series A Financial Services, Artificial Intelligence, Information Technology
Mandra Capital
VC Fund
1 China, United States, Japan Series A, Seed Software, FinTech, Information Technology $400k–$103M
Dubai Electricity and Water Authority
VC Fund
1 Japan, United Arab Emirates Series A, Post-IPO Secondary Energy, Retail, Sustainability
MUFG Bank
VC Fund
1 Japan, United States, India Debt Financing, Post-IPO Debt Energy, Renewable Energy, Financial Services $6.6M–$1.5B
Light Street Capital
VC Fund
1 United States, Japan, India Series D, Secondary Market, Series C SaaS, Software, E-Commerce $98M–$1.7B
Sumitomo Mitsui Banking Corporation
VC Fund
1 Japan, United States, India Debt Financing, Post-IPO Debt Financial Services, Energy, Information Technology $6.4M–$3B
ECHO TRADING
VC Fund
1 Japan Seed, Series A Content, Pet, Retail
B Dash Ventures
VC Fund
1 Japan, Taiwan, Switzerland Seed, Series A Internet, Information Technology, Apps $229k–$44M
Kewpie Corporation
VC Fund
1 Japan Series A, Series B, Series C Food and Beverage, Health Care, Retail
Chushin Venture Capital
VC Fund
1 Japan Series A, Seed, Series B Biotechnology, Health Care, Manufacturing $955k–$128M
Dai-ichi Life
VC Fund
1 Japan, Tanzania, Philippines Series B, Series C Health Care, Renewable Energy, Energy $5.2M–$369M
Culture Convenience Club (CCC)
VC Fund
1 Japan, United States Seed, Series A, Series B Beauty, Retail, Blockchain
TIS Japan
VC Fund
1 Japan, Singapore, Indonesia Series C, Seed Software, Artificial Intelligence, Information Technology $740k–$496M
KDDI Open Innovation Fund
VC Fund
1 Japan, United States, Israel Series B, Series A Software, Internet, Information Technology $1.3M–$553M
Miraidoa
VC Fund
1 Japan, United States, Myanmar Seed, Series A Health Care, Manufacturing, Information Technology $933k–$58M
MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
VC Fund
1 Japan, United States, India Seed, Series B Software, Information Technology, Health Care $1.1M–$198M
Daiwa Corporate Investment
VC Fund
1 Japan, United States, France Series A, Seed Software, Task Management, Internet $4.3M–$71M
ITOCHU Technology Ventures
VC Fund
1 Japan, United States, Belgium Series A, Series B Software, E-Commerce, Information Technology $4M–$213M
STRIVE
VC Fund
1 Japan, India, Indonesia Seed, Series A Software, Internet, E-Commerce $800k–$142M
Orient Corporation
VC Fund
1 Japan Series A Retail, Product Design, Management Consulting
Kyodo News Digital
VC Fund
1 Japan Series A, Series B Retail, Security, Business Development
ANOBAKA
VC Fund
1 Japan, United States, India Seed, Series A Artificial Intelligence, Software, Information Technology $382k–$99M
JAFCO Group
VC Fund
1 Japan, United States Series B, Series C Information Technology, Software, E-Commerce $49M–$1.7B
Access all 287 VC funds in Japan Retail startups.

Access 48,091 investors

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

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Investor list

Mizuho Capital
VC Fund · Tokyo, Tokyo, Japan · 7 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 thefifth-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, Internet
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 459
  • Round size: Series A $1.8M–$115M; Series B $2.4M–$340M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • CaTe
  • FunPep — FunPep is an Industry-university collaboration bioventure company.
  • Triorb — Triorb is a technology company that specializes in robot mobility development with the help of software and hardware solutions.
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Mitsubishi UFJ Capital
VC Fund · Tokyo, Tokyo, Japan · 4 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: Information Technology, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Japan, United States, Singapore

Investor stats

  • Total investments: 547
  • Round size: Series A $1.2M–$86M; Series B $4.2M–$269M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.4B in 2020

Portfolio highlights

  • Caguuu — Caguuu offers high-quality designer furniture at affordable prices, through e-commerce, eliminating middlemen and store operating costs.
  • Diggle — DIGGLE is a service that provides fundamental management accounting management on the cloud called fraud management. It is possible to reduce the mistakes and man-hours of the fraud management task and easily carry out the fraud management task even if it is not an expert in finance or accounting.DIGGLE covers budget creation work and budgetrecord comparison work, especially in the foreman management work. In the budget creation work, the KPI and the budget are automatically created by inputting the target numerical value to the preset parameters utilizing the budget generator function, while the forecast contrasting work is made up of the financial information, non-financial information It is easy to calculate by simply entering the numerical value, and it is possible to carry out calculation of the forecast contrast.
  • Instalimb — Instalimb is the world's first 3D printing prosthesis business.
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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: 72
  • Round size: Series A $1.8M–$99M; Series B $3.3M–$156M
  • Lead/follow: 6% lead, 94% 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.
  • Forest — Forest Co., Ltd. operates as an e-commerce aggregator, seeks to identify sustainable, high-quality products and brands that embrace the spirit of Japan and help them grow and enter the global market by using the power of technology.
  • 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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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 andaffiliates in the various business segments.

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Investment focus

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

Investor stats

  • Total investments: 551
  • Round size: Series A $2.3M–$128M; Series B $3.2M–$269M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Etaily — Etaily provides e-commerce and retail solutions in the Philippines, enabling brands with end-to-end services, from store management to fulfillment.
  • Fermelanta — Fermelanta produces rare plant-based ingredients through microbial fermentation. It engineers a cell to build a biosynthetic pathway of target molecules with gene transfer and disruption.
  • Neusignal Therapeutics — Neusignal Therapeutics is a medical company that develops therapeutic medicines for dementia and psychiatric illnesses.
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DBJ Capital
VC Fund · Otemachi, Tokyo, Japan · 3 investments in Japan Retail startups

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 newtechnologies 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, Medical
  • Stage:Series A, Series B
  • Geography: Japan, United States, Australia

Investor stats

  • Total investments: 155
  • Round size: Series A $2.7M–$113M; Series B $6.9M–$354M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Ginco — Ginco's goal is to Change the relationship between individuals and assets by making full use of block chain technology. The primary focus of Ginco, its cryptocurrency wallet app, is centered around dApp and the On-Chain function, and the company plans to expand its business in a multifaceted manner while watching trends in the ecosystemdevelopment. In the future, they were told that they have the possibility of developing with DEXs (decentralized exchanges).
  • Shonai — Shonai is a real estate company that focuses on the development of residential and commercial properties.
  • Scohia Pharma — Scohia Pharma is a biotech venture that will have both substantial research and development resources and be nimble enough to make decisions quickly, will strive to improve patient quality of life by providing patients and healthcare professionals with new therapeutic medications for renal, metabolic.
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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, Energy
  • Stage:Seed, Series A
  • Geography: Japan

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • aboon — Aboon develops is a coupon application that introduces shops that attract customers. Aboon was founded on 2018 and is based in Yokohama, Japan.
  • Updater — Minna Electric Power is an Electricity retail service for corporations and individuals company.
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Coral Capital
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Japan Retail startups, 10 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: 102
  • Round size: Seed $1M–$30M; Series A $2.7M–$99M; Series B $3.3M–$184M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely still investing — raised $128M in 2021

Portfolio highlights

  • Henry — Henry develops and provides a cloud-based electronic medical record and receipt system for small and medium-sized hospitals.
  • Ruten — Ruten is a brain-machine interface company that specializes in reconstructive treatments for infeasible and ineffective conditions.
  • Tokenz — Tokenz is your all-in-one platform for global digital payments, cross-border tax compliance, and seamless payouts.
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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:Series B, Series C
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 17
  • Round size: Series B $1.3M–$30M; Series C $14M–$160M
  • Lead/follow: 24% lead, 76% 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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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, Marketing, Software
  • Stage:Seed, Series A
  • Geography: Japan

Investor stats

  • Total investments: 61
  • Round size: Seed $771k–$18M; Series A $1.8M–$30M
  • Lead/follow: 30% lead, 70% follow

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.
  • LUC — LUC is a provider of the AI ​​x experience analysis platform "TERUS," .
  • 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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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, Financial Services, FinTech
  • Stage:Series A, Seed, Series B
  • Geography: Japan, China, United States

Investor stats

  • Total investments: 142
  • Round size: Seed $661k–$13M; Series A $1.8M–$42M; Series B $1.8M–$103M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Rimowa — Rimowa designs characters not as mere “content,” but as immersive character operating systems that integrate naturally into everyday life, creating emotionally resonant experiences that seamlessly connect digital interaction, storytelling, and real-world consumer engagement.
  • Tokenz — Tokenz is your all-in-one platform for global digital payments, cross-border tax compliance, and seamless payouts.
  • AI Mage
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Access 48,091 investors

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

Browse database — It's Free!
Energy & Environment Investment
VC Fund · Higashi-shinagawa, Tokyo, Japan · 2 investments in Japan Retail startups

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, Internet of Things, Software
  • Stage:Series A, Series B
  • Geography: Japan, United States, Canada

Investor stats

  • Total investments: 123
  • Round size: Series A $2M–$105M; Series B $3.7M–$553M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $147M in 2019

Portfolio highlights

  • Flosfia — FLOSFIA is a spin-off from a research of Kyoto University, specializing in film-formation by mist chemical vapor deposition (CVD). Making use of physical properties of gallium oxide (Ga2O3), FLOSFIA has devoted to development of low-loss power devices.
  • Hacobell — Hacobell is a logistics company that offers services in freight servicing, dispatch, and delivery.
  • Power Wave — Power Wave seeks a carbon-neutral world using wave technology for wireless power, tackling global warming and fuel depletion.
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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, Health Care
  • Stage:Seed, Series A
  • Geography: Japan, Vietnam, Indonesia

Investor stats

  • Total investments: 220
  • Round size: Seed $774k–$14M; Series A $1.5M–$50M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — raised $589M in 2017

Portfolio highlights

  • AI Mage
  • 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.
  • Albatross Technology — Albatross Technology is a technology company that develops offshore renewable energy devices and floating offshore wind turbines.
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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, Advertising
  • Stage:Series A, Seed
  • Geography: Japan

Investor stats

  • Total investments: 10
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Nyle — Nyle is a web consulting company specialized in providing web solutions for internet media businesses.
  • BitStar — BitStar accelerates potential of video creators with power of proprietary database 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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VOYAGE VENTURES
VC Fund · Tokyo, Tokyo, Japan · 2 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 othergrowing 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:Seed, Series A
  • Geography: Japan, China, Germany

Investor stats

  • Total investments: 70
  • Round size: Seed $200k–$34M; Series A $1.4M–$77M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • pickupon — Pickupon is a company that transcribes important parts of the call
  • 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.
  • ventus Japan — 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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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, Series B, Venture - Series Unknown
  • Geography: Japan

Investor stats

  • Total investments: 6
  • Round size: Series A $1.5M–$3.5M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • EX-Fusion — EX-Fusion develops the first commercial laser based nuclear fusion reactor for power generation.
  • 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.
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Incubate Fund
VC Fund · Tokyo, Tokyo, Japan · 2 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, E-Commerce
  • Stage:Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 293
  • Round size: Seed $314k–$18M; Series A $2.7M–$91M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: Likely still investing — raised $2.4B in 2021

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 — Black Cat Carnival Inc. is a communication service development company.
  • 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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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, EdTech, Leisure
  • Stage:Series A, Series B, Series C
  • Geography: Japan

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • ATOMica — ATOMica is a co-working space and business management company for conference rooms, event venues, circles, and schools. The company uses coworking spaces as HUBs to provide services that maximize individuals' power. It can be used for a variety of purposes, including coworking space, shared office space, meetings, events, and web seminars. Itis also possible to use it only once. They plan and run local communities that bring together a diverse range of people, including students, workers, businesses, universities, and governments.
  • 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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Money Forward Venture Partners
VC Fund · Tokyo, Tokyo, Japan · 2 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: 49
  • Round size: Seed $1.5M–$64M; Series A $892k–$41M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $419M 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.
  • LIGHT-RIGHT — LIGHT-RIGHT focused on developing services that help local communities adapt to the challenges of a declining population.
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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: Software, Health Care, Information Technology
  • Stage:Series A, Series B
  • Geography: Japan

Investor stats

  • Total investments: 51
  • Round size: Series A $172k–$241M; Series B $2.8M–$99M
  • Lead/follow: 8% lead, 92% 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.
  • 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.
  • 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.
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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: Financial Services, Software, Health Care
  • Stage:Corporate Round, Series B
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 48
  • Round size: Series B $3M–$553M; Corporate Round $2M–$213M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • nat — nat develops iOS application - Scanat and provides consultation service in data strategy.
  • Ascenders — Ascenders is a sports human resources business platform.
  • Chitose Group — CHITOSE GROUP is a family of biotechnology companies operating mainly in Southeast Asia and Japan with an aim of leaving mankind with an environment where they can live in abundance for over a thousand years. CHITOSE GROUP is creating new values in the fields of agriculture, medical, food, energy, chemistry and others through “Technologicaldevelopment capabilities in the biotechnology field by constantly promoting economic rationality” and “Business development capabilities for drawing a path towards commercialization by understanding the essence and limitations of biotechnology”.
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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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D2 Garage Japan
VC Fund · Sapporo, Hokkaido, Japan · 1 investments in Japan Retail startups

D2 Garage is an Internet company.

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Investment focus

  • Industry: Apps, Water, Hunting
  • Stage:Seed
  • Geography: Japan

Investor stats

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

Portfolio highlights

  • Fant — Fant is a platform to share the information and skills beyond the regional for hunters.
  • nanoFreaks — nanoFreaks builds a rescue system on the sea, creating an environment where everyone can live with peace of mind.
  • RAINBOW — With the goals of high quality, efficacy, safety, and economic efficiency, RAINBOW is developing HUNS001, a proprietary autologous bone marrow mesenchymal stem cell product that is administered directly to the peri-stroke area. RAINBOW is focused on HUNS001's efficacy, safety, and highly novel cell culture, transport, and administrationmethods.
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GURUNAVI
VC Fund · Toho, Saga, Japan · 1 investments in Japan Retail startups

Gurunavi provides an online platform that enables users to find restaurants in Japan.

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Investment focus

  • Industry: Content, Education, E-Learning
  • Geography: Japan

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • Vesicle — Vesicle is a fruit and vegetable company that provides distribution and delivery of fresh vegetables.
  • KIYO Learning — KIYO Learning offers a commuting course, an online course to acquire qualifications for business people.
  • Best Beer Japan — Best Beer Japan provides a barrel tracking software for craft beer and barrel sharing. The company was founded in 2018.
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KOZOCOM
VC Fund · Setagaya, Tokyo, Japan · 1 investments in Japan Retail startups

KOZOCOM is developing business utilizing the latest Internet technology.

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Investment focus

  • Industry: Fruit, Retail, Wholesale
  • Stage:Series A
  • Geography: Japan

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Vesicle — Vesicle is a fruit and vegetable company that provides distribution and delivery of fresh vegetables.
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Miyagin Venture Capital
VC Fund · Miyazaki, Miyazaki, Japan · 1 investments in Japan Retail startups

Miyagin Venture Capital is a venture capital firm.

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Investment focus

  • Industry: Medical, mHealth, Biopharma
  • Stage:Seed
  • Geography: Japan

Investor stats

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

Portfolio highlights

  • Smolt — Smolt is a startup that performs its own recycling type aquaculture of Sakura Mouth.
  • Locus Blue — Locus Blue is a geospatial data analytics company providing an online point cloud processing platform to support industries. Locus Blue creates tools that use 3D data to improve efficiency and address societal issues, making people's lives easier by delivering cutting-edge technology in an easy-to-use format. ScanX, the company's product,is designed for productivity and makes point cloud data analysis easier through automation and the use of machine learning algorithms.
  • Libero Thera — LiberoThera provides drug discovery research and development services. It focuses on making drugs with GPCRs for membrane proteins. LiberoThera was founded in 2018 and is located in Tokyo.
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POLAR SHORTCUT
VC Fund · Sapporo, Hokkaido, Japan · 1 investments in Japan Retail startups

POLAR SHORTCUT manage the POLAR SHORTCUT No. 1 Fund, a regional seed venture capital fund that aims to invest in startups.

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Investment focus

  • Industry: Retail, Manufacturing, Food Processing
  • Geography: Japan

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Treasure in Stomach — Treasure in Stomach is a food manufacturing company that develops vegan, gluten-free, and Muslim-friendly products and content.
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OASIS FUND
VC Fund · 1 investments in Japan Retail startups

OASIS FUND Provide advice and practical support from a founder's perspective.

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Investment focus

  • Industry: Retail, Manufacturing, Food Processing
  • Geography: Japan

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Treasure in Stomach — Treasure in Stomach is a food manufacturing company that develops vegan, gluten-free, and Muslim-friendly products and content.
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Mitsubishi UFJ
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

We have the largest domestic and global customer base of any Japanese bank, consisting of a network of 500 offices in Japan and 40 other countries. We apply our values of integrity and responsibility by contributing to the improvement of the economic and social infrastructure wherever we do business.Our portfolio includes 40 million retailbanking accounts and 500,000 corporate customers. The extensive network that this represents is itself a valuable component of our financial role as part of the global social infrastructure.

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Investment focus

  • Industry: Financial Services, Artificial Intelligence, Information Technology
  • Stage:Debt Financing, Series A
  • Geography: Japan, United States, Malaysia

Investor stats

  • Total investments: 30
  • Lead/follow: no public data

Portfolio highlights

  • Tryeting — TRYETING provides an AI platform that integrates various types of software. One of the strengths of the company is materials informatics, a field that applies the techniques of informatics, such as AI and big data, to materials. This approach can significantly speed the development of new materials.
  • HelloWorld — EdTech, International Exchange between Schools
  • Japan Culture and Technology — Japan Culture and Technology assists artists and craftspeople in expanding their activities by providing IT support.
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Mandra Capital
VC Fund · Central, Hong Kong Island, Hong Kong · 1 investments in Japan Retail startups

Mandra Capital is an investment holding company focused on early stage and growth opportunities in internet, materials, pharmaceuticals and technologies. - See more at: https://www.crunchbase.com/organization/mandra-capital-2#sthash.OUzqU6qX.dpuf

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Investment focus

  • Industry: Software, FinTech, Information Technology
  • Stage:Series A, Seed
  • Geography: China, United States, Japan

Investor stats

  • Total investments: 39
  • Round size: Seed $400k–$4M; Series A $4M–$103M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • RomDefi — Our company is engaged in the development of software in the field of blockchain technology. We are currently working on nft game Rich Hens.
  • Order Handler — Order Handler is a E-commerce Start Up based in Shanghai.
  • Keo Technology Group — Keo Technology Group is an ed-tech startup that aims to create innovative solutions for the education industry. Through its many products, Keo Plus and Dash, we are on a mission to transform career discovery and upskilling through providing an inclusive ecosystem built and sustained by the students, teachers, and supporters. Backed by AminoCapital(early-investors of Chime Bank, Zoom, Webflow) and Mandra Capital, we are a team of curious, ambitious, and bold individuals with a common vision: Learn and Redefine. We promote a culture of life-long learning and positive transformation, hoping to empower everyone to achieve their daring dreams. Dash is our skill-sharing marketplace. We believe that everybody has skills that can empower others. Dash seeks to make education more fun through a unique incentive scheme built on common prosperity. Start earning as a teacher, student, investor, or supporter; learn and earn without boundaries!
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Dubai Electricity and Water Authority
VC Fund · 1 investments in Japan Retail startups

Investment focus

  • Industry: Energy, Retail, Sustainability
  • Stage:Series A, Post-IPO Secondary
  • Geography: Japan, United Arab Emirates

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% 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/.
  • Emirates Central Cooling Systems Corporation (Empower) — Emirates Central Cooling Systems Corporation (EMPOWER) was established in 2003 with an objective to enable the real estate sector to efficiently utilize energy resources through District Cooling Services (DCS). Empower was set up as a joint venture between Dubai Electricity and Water Authority (DEWA) and TECOM Investments a member of Dubai Holdingthrough a Royal Decree issued by the Ruler of Dubai.
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MUFG Bank
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

MUFG Bank is Japan's largest bank. ; MUFG

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Investment focus

  • Industry: Energy, Renewable Energy, Financial Services
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 245
  • Round size: Post-IPO Debt $63M–$1.3B; Debt Financing $6.6M–$1.5B
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — raised $300M in 2022

Portfolio highlights

  • Trifa — Trifa is a telecommunications service provider that provides eSIM internet access when traveling internationally.
  • Axiom Space — Creating a thriving home in space that benefits every human, everywhere.
  • Recurrent Energy — As a leading provider of distributed solar power, Recurrent Energy is overcoming the barriers to widespread solar adoption, making renewable energy a practical choice for today's large scale energy users. They are a developer and owner of locally-sited solar power systems, selling clean electricity to their customers worldwide at competitiverates via a Power Purchase Agreement (PPA) or Feed-in Tariffs (FiT). In return, their utility, commercial, and government customers achieve energy independence, predictable pricing, and enhanced sustainability.
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Light Street Capital
VC Fund · Palo Alto, California, United States · 1 investments in Japan Retail startups

Light Street Capital Management is an investment management firm located in Menlo Park, California. The firm invests globally in public and private equity markets with a focus on technology and media sectors. Core areas of investment focus are social media, cloud computing, e-commerce, and sharing economy companies.

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Investment focus

  • Industry: SaaS, Software, E-Commerce
  • Stage:Series D, Secondary Market, Series C
  • Geography: United States, Japan, India

Investor stats

  • Total investments: 26
  • Round size: Series C $98M–$879M; Series D $150M–$1.7B
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $57M in 2019

Portfolio highlights

  • JETSWEAT — Jetsweat is a well-being platform that helps organizations engage populations to live healthier lives. We partner with forward-thinking employers, health plans and health systems to set a new standard for holistic and preventative care, driving better outcomes through engaging journeys, personalized programming from exclusive provider ecosystem,and dedicated white-label software.
  • Ayar Labs — Ayar Labs develops a monolithic in-package optical I/O (MIPO) solution for applications that require high bandwidth, low latency, and power-efficient short-reach interconnects.The company disrupts the traditional performance, cost, and efficiency curves of the semiconductor and computing industries by driving improvement in interconnectbandwidth density at lower power. Its patented approach uses industry-standard cost-effective silicon processing techniques to develop high speed, high density, low power optical-based interconnect “chiplets” and lasers to replace traditional electrical-based I/O. Ayar’s flagship product is a chip called TeraPhy that implements its optical technology on compact silicon die. The chip can be integrated directly into a central processing unit, graphics card, or another processor to give it optical data transmission capabilities.The Emeryville, California-headquartered company was established in 2015 by Alex Wright-Gladstein, Vladimir Stojanovic, Chen Sun, and Mark Wade.
  • Lumin Digital — Experience disruption-proof digital banking with Lumin Digital's cloud-native platform, offering innovative solutions for financial institutions.
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Sumitomo Mitsui Banking Corporation
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

Sumitomo Mitsui Banking Corporation offers a broad range of financial services centered on banking. They are also engaged in 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 businesssegments.It is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.

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Investment focus

  • Industry: Financial Services, Energy, Information Technology
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 302
  • Round size: Post-IPO Debt $91M–$3B; Debt Financing $6.4M–$1.2B
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • kAIgentic — kAIgentic is a Singapore-based agentic AI company founded in August 2025, specializing in enterprise intelligence layer platforms that transform tacit work knowledge into governed, autonomous AI agents.
  • Avaada — Business and sustainability can go hand-in-hand. Their unique strategy interweaves business goals with environmental sustainability and social responsibility, producing mutually beneficial results. By contributing to community’s socio-economic development in the short-term, they foresee delivery of continual value to their shareholders. Throughtheir community engagement initiatives, they are contributing to uplift the lifestyle of communities they work with.
  • Waypoint Leasing Services — Waypoint Leasing is a global helicopter leasing company founded in 2013 to provide financing solutions to helicopter operators worldwide. Headquartered in Limerick, Ireland, Waypoint differentiates itself with a senior management team possessing direct helicopter operating and helicopter leasing experience. Their deep operational backgroundtranslates directly to a passion for rotary-wing aviation and a commitment to building long-lasting partnerships.
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ECHO TRADING
VC Fund · Hyogo, Hokkaido, Japan · 1 investments in Japan Retail startups

ECHO TRADING provides an array of pet-related goods and services. The Company wholesales pet food and supplies, and operates pet theme park business. Echo Trading also provides pet-related trainings to individuals working in the pet industry in its own school.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Petgo — Petgo is a Social Entrepreneurship company. Petgo are engaged in the pet health business mainly for e-commerce. E-commerce mainly provides pet health products such as veterinary drugs for dogs and cats, dietary foods, and supplements as products that help improve pet quality of life. In addition, as other services,Petgo provide marketing support topet-related manufacturers using pet data and medical treatment services through animal hospitals.
  • 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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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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Kewpie Corporation
VC Fund · Akasaka, Tokyo, Japan · 1 investments in Japan Retail startups

Kewpie engaged in manufacturing, wholesaling, transportation, and warehousing of food products. The company's business center is in China but also expanded in Europe and the United States. Also, strengthen the domestic seasonings business and cut vegetables main future, they will focus on the egg market for business and rush to monetize ofoverseas business. Has been "馳名 trademark" for the first time by the Chinese government as a Japanese food manufacturer.

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Investment focus

  • Industry: Food and Beverage, Health Care, Retail
  • Stage:Series A, Series B, Series C
  • Geography: Japan

Investor stats

  • Total investments: 5
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • MiL Inc — Emerging products for healthcare food brands Producing food retailing and wholesale recipe development Restaurant management Catering media operation.
  • TechMagic — TechMagic strives to ease and create a richer lifestyle by introducing AI and robotics into daily life. Its first project aims to solve this issue in the food industry, by implementing a cooking robot into kitchens of restaurants. TechMagic’s automatic cooking solution allows businesses to reduce labor costs.
  • 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.
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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, Health Care, Manufacturing
  • Stage:Series A, Seed, Series B
  • Geography: Japan

Investor stats

  • Total investments: 16
  • Round size: Seed $1.5M–$2M; Series A $955k–$128M; Series B $5.1M–$21M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Nexta — Nexta manufactures site, issues such as analog management, personalization of operations & labor shortages are becoming more serious.
  • OOYOO — OOYOO Co., Ltd. is a DeepTech venture that combines international entrepreneurial spirit, and a 'Made In Japan' excellence, to bring the latest innovations in clean technology to society for a smarter, cleaner, and more mobile world.
  • 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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Dai-ichi Life
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

Dai-ichi Life is a private insurance company that provides life insurance and pension products services. It is the second-largest private life insurance company in Japan as measured by total assets as of March 31, 2014.Founded on September 15, 1902, Dai-ichi Life was the oldest mutual insurance company in Japan until it was demutualized andlisted on the Tokyo Stock Exchange on April 1, 2010.As of March 31, 2014, total assets were ¥37.7 trillion (USD$366.3 billion) on a consolidated basis. Based in Tokyo, Dai-ichi Life has approximately 67,000 employees and 1,345 sales offices throughout Japan. It also has overseas life insurance businesses in Vietnam, Australia, Thailand, Indonesia, and India as well as offices in New York, London, Hong Kong, Beijing, and Shanghai.

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Investment focus

  • Industry: Health Care, Renewable Energy, Energy
  • Stage:Series B, Series C
  • Geography: Japan, Tanzania, Philippines

Investor stats

  • Total investments: 47
  • Round size: Series B $5.2M–$369M; Series C $5.4M–$312M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • CraftBank — CraftBank, Inc. is the start-up that operates online matching platform between constructors with having relations with 22k specialty constructors (10% coverage in the market). The company was succeeded in Management BuyOut in April 2021.
  • Enerbank Japan — Enerbank is a development and operation of electric power auction system.
  • Sharing Energy — Sharing Energy is providing energy supply and energy management services.
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Culture Convenience Club (CCC)
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

CCC plans and operates a comprehensive entertainment business. CCC operates and proposes new lifestyles from multiple platforms, including bookstores, a database marketing business (mainly focused on T Point), and several other new-platform services, both online and offline.

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Investment focus

  • Industry: Beauty, Retail, Blockchain
  • Stage:Seed, Series A, Series B
  • Geography: Japan, United States

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Gosleep — Gosleep is a healthfi-focused web3 lifestyle applications. They also provide gamefi, socialfi, and healthfi services. Additionally, they also provide token-rewarded and social gaming-driven system to encourage users to build up healthier sleep behavior's and participation.
  • SHOWROOM — SHOWROOM provides live performance broadcasts by idols and celebrities in virtual stadiums.
  • Go Today Shaire Salon — GO TODAY SHAiRE SALON is a private room-type shared salon where freelance hairdressers and teams gather.
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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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KDDI Open Innovation Fund
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

KDDI Open Innovation Fund is a corporate venture capital fund that will support promising startup companies. Total size of the fund is JPY10 billion. This is the first corporate venture capital fund established by KDDI. The fund will be managed by Global Brain Corporation (Head office: Minato-ku, Tokyo; President and CEO, Yasuhiko Yurimoto),which has a strong track record in the venture capital business. By combining KDDI’s know-how and assets with Global Brain’s investment and management support capabilities, we will work together to accelerate cooperative activities with promising startup companies. Through this fund, as well as "KDDI ∞ Labo," a startup incubation program currently inviting a second round of applications, we will continue to support the growth of the next startup companies.

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Investment focus

  • Industry: Software, Internet, Information Technology
  • Stage:Series B, Series A
  • Geography: Japan, United States, Israel

Investor stats

  • Total investments: 99
  • Round size: Series A $1.3M–$142M; Series B $9.6M–$553M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Recho — Recho’s voice AI solutions must offer some unique features. Recho has a mission to "create the future of communication" and provides the VoiceAI platform and its application, Voice Agent.
  • Resemble AI — AI voice generator with voice cloning for text to speech.
  • 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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Miraidoa
VC Fund · Kyoto, Kyoto, Japan · 1 investments in Japan Retail startups

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

Investor stats

  • Total investments: 148
  • Round size: Seed $933k–$30M; Series A $1.2M–$58M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: May invest from a new fund soon — raised $36M in 2020

Portfolio highlights

  • Naorai — Naorai is a food and beverage firm that manufactures wine, beer, spirits, and non-alcoholic beverages.
  • Dioseve — Dioseve is providing novel possibilities for all life.
  • Flosfia — FLOSFIA is a spin-off from a research of Kyoto University, specializing in film-formation by mist chemical vapor deposition (CVD). Making use of physical properties of gallium oxide (Ga2O3), FLOSFIA has devoted to development of low-loss power devices.
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MITSUI SUMITOMO INSURANCE Venture Capital (MSIVC)
VC Fund · Tokyo, Tokyo, Japan · 1 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, Health Care
  • Stage:Seed, Series B
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 224
  • Round size: Seed $1.1M–$33M; Series B $1.8M–$198M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — raised $1.4B in 2021

Portfolio highlights

  • Balus — Balus provides motion capture, Unity systems, and AR live permanent venues.The company provides character content infrastructure using real-time animation, we also support the production of original content. Balus provides the necessary technology for event planning, casting, VR events, recording and creation of production images, real-timemotion capture during live events, real-time transmission, event management, and systems that allow users to participate in the production.
  • KiteRa — KiteRa is a cloud service that allows you to create and operate work rules and company rules.
  • Peco Free — Peco Free is a school meal pre-order service that is selected using a smartphone.
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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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ITOCHU Technology Ventures
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Japan Retail startups

ITOCHU Technology Ventures (ITV), based in Tokyo, is the venture capital arm of ITOCHU Corporation. ITOCHU is one of the world's largest corporations with offices in over 80 countries and operations that cover a broad spectrum of industries. ITV's mission is to invest and help build leading information technology companies by leveraging avast array of resources both domestically and internationally throughout ITOCHU and its group companies. The ITOCHU group has a long history of funding information technology companies with successes including Siebel Systems, NVIDIA, Openwave and Aruba Networks. Current portfolio includes, Box, Fab, Ooyala, WHILL, Tokyo Otaku Mode, etc.

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Investment focus

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

Investor stats

  • Total investments: 144
  • Round size: Series A $4M–$128M; Series B $4.2M–$213M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $1.5B in 2019

Portfolio highlights

  • NodeX — We build open-source embedded software and cloud tools to help developers build secure IoT products, simply. By leveraging decentralized identity and h/w root of trust technology, IoT security platform "UNiD" enables developers to automate device management and easily build secure data pipeline between every devices and the cloud.
  • Simplex Quantum — Simplex Quantum conducts research and development of AI-based solutions in the healthcare field and operates the SQ-bar service.It also offers the Shinden-kun, a portable device that can analyze the measured electrocardiographic information with AI and detect heartbeat turbulence.It was established on October 3, 2014 and headquartered inTakanawa, Minato-ku.
  • Link Therapeutics — Link Therapeutics specializes in developing therapeutic methods for targeting autoantibodies and identifying pathogenic autoantibodies.
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STRIVE
VC Fund · Tokyo, Tokyo, Japan · 1 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
  • Geography: Japan, India, Indonesia

Investor stats

  • Total investments: 138
  • Round size: Seed $800k–$33M; Series A $2M–$142M
  • Lead/follow: 33% lead, 67% 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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Orient Corporation
VC Fund · Hatchobori, Tokyo, Japan · 1 investments in Japan Retail startups

Orient Corporation specializes in the sales and distribution of construction materials and information equipment.

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Investment focus

  • Industry: Retail, Product Design, Management Consulting
  • Stage:Series A
  • Geography: Japan

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • LINK-US — Link Us is Contract sales of various devices applying ultrasonic combined vibration and powerful ultrasonic technology
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Kyodo News Digital
VC Fund · Minato, Chiba, Japan · 1 investments in Japan Retail startups

Kyodo News Digital distributes news and builds systems in the digital field such as news sites and signage.

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Investment focus

  • Industry: Retail, Security, Business Development
  • Stage:Series A, Series B
  • 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 .
  • FUNDiT — FUNDiT is an IT-focused M&A and business consolidation company that specializes in acquiring, managing, and scaling IT companies.
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ANOBAKA
VC Fund · Shibuya, Kanagawa, Japan · 1 investments in Japan Retail startups

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. Inaddition 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, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 161
  • Round size: Seed $382k–$14M; Series A $4.9M–$99M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Kakutoku — Nitlon Inc. provides crowdsourcing management services. The company was founded by Seiya Mitsuda on February 02, and is headquartered in Beppu, Japan.
  • AlarmBox — AlarmBox develops services that make use of professional knowledge of technology and corporate screening, and changes common sense of risk management of enterprise.
  • AVIATE
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JAFCO Group
VC Fund · 1 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 $59M–$1.7B; Series C $49M–$857M
  • 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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Retail VC funding in Japan at a glance

Stats across 171 deals from 287 investors.

287
investors
in Japan Retail startups
171
deals
in Japan Retail startups
$21M
median round
in Japan Retail startups
26%
lead investors
lead at least one round
12%
Series A
most common funding stage

Access all 287 VC funds in Japan Retail startups.

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