Japan-based financial services firms Kyoto Shinkin Bank and Kyoto Chuo Shinkin Bank have made limited partner commitments to venture capital firm Future Venture Capital’s Kyoto City Startup Support Fund II.
The first Kyoto City Startup Support Fund was formed in 2016 and backed by the same investors. It targeted young entrepreneurs, university spinouts and social impact projects in the Kyoto area, having invested in 16 companies.
The ¥260m ($2.5m) second iteration will operate for 10 years, with the possibility of extending for another two. It will invest in and partner companies aiming to revitalise the local economy and solve social issues through the United Nations’ Sustainable Development Goals.
The Kyoto city government, Japan Finance Corporation’s citizen lifestyle-focused branch in Kyoto, regional innovation hub Kyoto Research Park and the public interest incorporated foundation Advanced Science, Technology & Management Research Institute of Kyoto are strategic partners for the fund.
