Corporates including Yahoo Japan and Tokyo Broadcasting System have contributed to the $50m first close of the VC partnership between securities brokerage Nomura and Keio University.

Keio Innovation Initiative, a Japan-based venture capital partnership formed by securities brokerage Nomura Holdings and Japanese university Keio University, has increased its fundraising to ¥15bn ($150m), Japan Times has reported.

The fund reached a first close of almost ¥5bn last month after securing internet company Yahoo Japan, media group Tokyo Broadcasting System and financial services firms Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial Group and Toho Bank as limited partners, chief executive Kotaro Yamagishi told the Times.

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