Keio Innovation Initiative, a Japan-based venture capital partnership formed by securities brokerage Nomura Holdings and Japanese university Keio University, has increased its fundraising to ¥15bn ($150m), Japan Times has reported.
The fund reached a first close of almost ¥5bn last month after securing internet company Yahoo Japan, media group Tokyo Broadcasting System and financial services firms Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial Group and Toho Bank as limited partners, chief executive Kotaro Yamagishi told the Times.
Keio Innovation Initiative aims to raise a further ¥10bn in two phases over the next 10 years, and will fund around 20 startups in the next three or four years, targeting sectors including robotics, life sciences and regenerative medicine.