Japan-based venture capital firm and accelerator program Reality Accelerator reached a ¥730m ($6.7m) close for its first fund on Monday, having received limited partner (LP) commitments from multiple corporates.
The LPs included Asahi Media Lab Ventures and So-net Media Ventures, corporate venturing arms of beverage producer Asahi and electronics producer Sony’s So-net internet service subsidiary respectively, as well as data security technology provider Eltes and retailer Marui Group.
The corporates were joined by venture capital firm Future Venture Capital, an undisclosed additional corporate backer and two angel investors.
Founded in 2017, Reality Accelerator focuses on seed and early-stage investments in developers of software-as-a-service (SaaS) and artificial intelligence (AI), technologies, typically providing between $90,000 and $275,000 per company.
In addition to funding, Reality Accelerator helps portfolio companies improve sales and key performance results and has so far invested in 13 startups, including vacant-seat information provider Vacan and social media management tool developer AutoScale.
