Japan-based entrepreneur support platform Chiba Dojo has raised ¥2.5bn ($23m) for the first close of its new fund, which counts corporates including internet companies DeNA and Mixi among its backers.
Chiba Dojo Fund’s other limited partners (LPs) include financial services firm Mizuho Bank, brokerage Daiwa Securities, deals database For Startups, educational seminar provider Leave a Nest and assorted angel investors.
The firm has placed a $46m ceiling for the vehicle expected by February 2020.
Chiba Dojo was founded in 2015 by angel investor Kotaro Chiba, who acts as the general partner (GP) of its latest fund. The interactive platform is open for participation to C-suite leadership from Chiba’s portfolio companies, who provide mentoring and management advice for each other.
Chiba had already founded an unmanned aerial vehicle-focused investment vehicle called the Drone Fund as its GP, where Dentsu, Mizuho Bank, Daiwa Securities and Leave a Nest also made LP commitments.
Chiba Dojo Fund will target seed and later-stage developers of technologies for purposes other than drones. Its later-stage investments will mainly be the final financing rounds of Chiba’s portfolio companies before their initial public offerings.
