In partnership with VC firm Hiroshima Venture Capital, the Hirogin Innovation Fund will target regional economy revitalisation startups.
Japanese financial services firm Hiroshima Bank has partnered with venture capital firm Hiroshima Venture Capital and formed a ¥2bn ($14.1m) fund.
Dubbed Hirogin Innovation Fund, the initiative will back companies developing financial and related technologies that help revitalise regional economies.
Hiroshima Bank is a limited partner while Hiroshima Venture Capital will serve as the general partner for the fund, which is set to operate until June 2034.
The bank already runs Hirogin Capital Partners, a startup investment arm that backs business succession and regional revitalisation technology developers.
Hiroshima Venture Capital, which was founded in 1995 and counts Hiroshima Bank as a shareholder, manages 25 VC funds. Most recently, it launched Hiroshima University / Hiroshima Prefectural University Venture Support Investment in 2020 alongside the national research university.
