The University of Tokyo-backed carveout fund’s latest limited partners include corporates Daikin, Hakuhodo and Mitsubishi Estate.

Corporates Daikin, Hakuhodo, Mitsubishi Estate and Fuyo General Lease have helped University of Tokyo’s Innovation Platform (UTokyoIPC) subsidiary expand its carveout vehicle, Accelerating Open Innovation Fund I (AOI 1), to ¥24bn ($222m).

The fund is set to reach the final close in late June this year and will operate until 2035. University of Tokyo had committed to its $26.1m first close in May 2020, investing alongside Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corporation.

Fellow financial services firm SBI…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.