Nomura has partnered Keio University to raise an $84m fund aimed at startups in sectors such as space technology, life sciences and regenerative medicine.

Japan-based financial services firm Nomura and the Tokyo-situated Keio University have launched a ¥10bn ($84m) fund that will invest in 15 to 20 startups over the next five years, Bloomberg reported on Wednesday.

The joint venture, named Keio Innovation Initiative, will focus on sectors including life science, regenerative medicine and space technology.

The initiative was formed last month but only began raising money this week. It is seeking a $25m first close and plans to approach domestic banks, regional lenders…