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TOKYO, Feb. 9, 2022 /PRNewswire/ — We are pleased to announce that a fund operated by UTokyo Innovation Platform Co., Ltd. (UTokyo IPC), the venture investment arm of the University of Tokyo (UTokyo), Japan’s leading university national, has come to a final closing, with a total of JPY 25.6 billion involving 11 institutional investors.
The Accelerating Open Innovation Fund 1 (AOI Fund 1) is an investment limited partnership that was established in 2020 to facilitate open innovation through industry-academia collaboration. UTokyo IPC is the general partner of the fund, while UTokyo serves as its anchor limited partner.
University-affiliated venture capital partnership consecutively investing on a scale of JPY25 billion
Unlike conventional venture capital financing, the AOI Fund 1 operates under the novel concept of “fostering and investing on startups through industry-academia collaboration.” It is designed to support spin-off startups from established business entities and new company creation through partnerships with leading companies in various sectors, as well as entrepreneurs that effectively leverage assets of leading companies for its growth.
AOI Fund 1 was launched in 2020, initially with a limited fund size of JPY 2.8 billionwith MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation. Later the fund size has increased more than JPY 24 billionwith six new investors by its second closing in early 2021: SBI Group, Fuyo General Lease Co., Ltd., DBJ Group, Daikin Industries, Ltd., Mitsubishi Estate Co., Ltd., and Hakuhodo Inc. Together with three more investors, including Zeon Corporation and The Norinchukin Bank, AOI Fund 1 finished its fundraising, with the total amount of the fund reaching JYP25.6 billion with a total of 13 partners, including UTokyo and UTokyo IPC. This exceeds the amount of UTokyo IPC’s first fund, Innovation Platform No. 1 Investment Limited Partnership (IPC Fund 1), which had a pledged financial contribution of JYP25.0 billion.
Aiming to attain and accelerating open innovation — “organic” bonding of industrial assets in Japan and academic results
The purpose of the AOI Fund 1 is to accelerate startups through the organic bonding of various assets and strengths accumulated in Japanese industrial sectors – which have an edge …
Full story available on Benzinga.com
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