The venture capital firm plans to write larger cheque sizes for startups in its sixth fund as its portfolio companies grow internationally.
One of the world’s largest and oldest investors in university spinouts, the University of Tokyo Edge Capital Partners, has raised $326m for a new fund, bringing its total assets under management to more than $1bn.
UTEC 6, the venture capital firm’s sixth fund, will make larger investments than its previous funds as it seeks to accelerate the growth of its investments in cross-border startups, said Tomotaka Goji, managing partners and CEO of the University of Tokyo Edge Capital Partners, in a release.
Funding raised by Japanese startups has grown tenfold over the past decade. More of these newer startups have also sought to expand globally.
Investments from the sixth fund will be between $10m and $20m per company.
The independent venture capital firm, which invests in universities in Japan and around the world including the University of Tokyo, has more than 150 startups in its portfolio.
University of Tokyo Edge Capital Partners invests in healthcare and life sciences, information technology and physical sciences and engineering. Since its founding in 2004, its investments have resulted in 20 IPOs and 22 M&A exits.
