Dubbed Iidabashi Cross Partners and led by Masaki Hasegawa, the fund will invest in back-office software developers.
Tokyo-listed accounting, payroll and sales management software provider PCA has formed a corporate venture capital arm called Iidabashi Cross Partners.
Its inaugural ICP-1 Fund is ¥2bn ($13.3m) and will run for 10 years. The unit will focus on startups developing back-office software and innovative business models.
Representative director Masaki Hasegawa leads the unit. He is joined by directors Fumiaki Sato and Tomonobu Gondo.
Founded in 1980, PCA built an accounting software suite for small and medium-sized businesses. In 2008, the company shifted to a subscription model under its PCA for SaaS platform. The company went public on the Tokyo Stock Exchange in 2014.
