University of Tokyo's investment unit and financial services provider Shinsei Bank have backed the fund, which will support local spinouts and startups.
UTokyo Innovation Platform, the venture capital arm of University of Tokyo, backed a ¥1bn ($8.9m) first close on Wednesday for 360ip Japan Fund 1, which will support technology spinouts from domestic universities and research institutes.
The seed-stage focused vehicle, which will also back startups, was launched by investment firm 360ip Japan and has also received capital from financial services provider Shinsei Bank.
Investees will be given additional support from Accelerator for Commercialisation of Advanced Technology (Acat), an accelerator program associated with 360ip Japan.
Asashi Fujimori, head of Acat and chief executive of 360ip Japan said: “There are a significant number of innovative and disruptive technology seeds in Japan.
“Leveraging 360ip’s globally proven experience and knowledge in technology commercialisation and investment, we will create attractive innovation assets and deliver global impact via these technologies.”
