The trading group's Marunouchi Capital unit reached its first close while BMS and Alexandria took part in cancer drug developer Torl’s $150m series B round.

Person Holding Black Glass Bottle


Marunouchi Capital, an investment subsidiary of trading firm Mitsubishi Corporation, reached a ¥40.2bn ($303m) first close for its third fund. The unit intends to source external investment to increase its size to ¥100bn.

BAI Capital, a China-based venture capital firm that evolved from media conglomerate Bertelsmann’s regional subsidiary, Bertelsmann Asia Investments, is set to form a Web3-focused fund, according to partner William Zhao.

Public markets

Japan-based lunar spacecraft developer iSpace, which counts corporates Airbus, Takasago Thermal Engineering, Tokyo Broadcasting System, Dentsu, Konica Minolta, KDDI, Japan Airlines, Shimizu, Toppan, Suzuki and Mitsui Sumitomo among its backers, listed on the Tokyo Stock Exchange in a $52m initial public offering. The IPO was approved last month and came after a total of $176m in venture funding for iSpace.


US-based novel oncology biologics…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.