The 500 Startups Japan team have spun off as Coral Capital and launched a $45m fund backed by Mitsubishi Estate, J-Power, Mizuho Bank and Shinsei Bank.
US-headquartered venture capital firm and accelerator 500 Startups has spun out a Japan-based investment firm called Coral Capital with a ¥5bn ($45m) fund backed by several corporate limited partners.
The fund has received commitments from property developer Mitsubishi Estate, energy utility J-Power, financial services firms Mizuho Bank and Shinsei Bank and private investors Taizo Son, Paul Kuo and Kotaro Chiba. A few top-tier institutional investors account for almost 50% of the fund’s total.
All five of the existing employees at…
