Japan-based venture capital firm Global Brain has closed ¥15bn ($130m) of a $175m fund, having secured contributions from limited partners including a range of unnamed universities, Nikkei reported on Friday.

More than 10 investors provided capital, including travel agency JTB, financial services firm Mitsui Sumitomo Banking, wood products supplier Sumitomo Forestry, marketing firm Dentsu and public-private investment institution Cool Japan Fund.

Founded in 2001, Global Brain has backed companies including printing services provider Raksul, e-commerce app developer Mercari and Luxola, the cosmetics brand acquired by luxury goods producer LVMH in July 2015.

The firm plans to invest in 70 to 80 startups in Japan, the US, South Korea, Southeast Asia and Israel in the next 10 years through the new fund, and will seek to launch new businesses and foster cooperation with its portfolio companies.

Areas of interest are likely to be linked to tourism and technology that can be imported into Japan, in connection with the 2020 Olympic and Paralympic Games, which will be held in Tokyo.

JTB is committing “several billion yen” to the fund, according to Nikkei, and intends to work with portfolio companies to enhance its fintech, augmented reality and virtual reality technology.

– A version of this article first appeared on our sister site Global Corporate Venturing.

Japan-based venture capital firm Global Brain has closed ¥15bn ($130m) of a $175m fund, having secured contributions from limited partners including several corporates, Nikkei reported on Friday.

More than 10 companies and universities provided capital, including travel agency JTB, financial services firm Mitsui Sumitomo Banking, wood products supplier Sumitomo Forestry, marketing firm Dentsu and the public-private investment institution Cool Japan Fund.

Founded in 2001, Global Brain has backed companies including printing services provider Raksul, e-commerce app developer Mercari and Luxola, the cosmetics brand acquired by luxury goods producer LVMH in July 2015.

The firm plans to invest in 70 to 80 startups in Japan, the US, South Korea, Southeast Asia and Israel in the next 10 years through the new fund, and will seek to launch new businesses and foster cooperation with its portfolio companies.

Areas of interest are likely to be linked to tourism and technology that can be imported into Japan, in connection with the 2020 Olympic and Paralympic Games, which will be held in Tokyo.

JTB is committing “several billion yen” to the fund, according to Nikkei, and intends to work with portfolio companies to enhance its fintech, augmented reality and virtual reality technology.