Japan-based logistics services provider Yamato Holdings formed a ¥5bn ($46.4m) investment vehicle with venture capital firm Global Brain yesterday called Kuroneko Innovation Fund.
The fund will operate for 10 years, backing seed, early and mid-stage developers of supply chain and logistics technologies with business models that complement Yamato’s activities.
The vehicle will make investments starting at approximately $460,000, potentially stretching up to hundreds of million yen (¥100m = $930,000) per deal and will primarily target domestic companies.
Yamato and its business units will support portfolio companies with logistics industry expertise and management resources in addition to funding, while Global Brain will identify investment opportunities through its network.
The startups will be able to leverage Global Brain’s experience in the innovation ecosystem in order to achieve financial returns and initial public offerings while helping strengthen Yamato’s business development.
Yamato already conducts research and development activities through an open innovation initiative dubbed Yamato Digital Transformation Project. Its projects include a delivery service that will utilise electric-powered vertical take-off and landing aircraft.
Global Brain already has joint venture schemes with other Japan-based corporates in place, partnering consumer electronics producer Sony, real estate developer Mitsui Fudosan and telecommunications firm KDDI through Sony Financial Ventures, 31Ventures and KDDI Open Innovation Fund respectively.
