Several universities are among the limited partners for the venture firm's latest fund, which is expected to close at $175m.

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,…