The final close of two new Japan funds has been announced by DNX Ventures, a venture capital firm with offices in both Japan and the United States. The funds raised a total of about 36.5 billion yen, or $243 million.
The firm released a statement announcing the final close of $188 million for the Japan Fund IV and $55 million for the Japan Annex Fund III, which are designated for investments that come after.
With the ability to invest in seed to late stage business-to-business (B2B) startups in Japan, the total amount raised for the Japan-focused funds, including the Japan Seed Fund, is estimated to be 39.5 billion yen (US $263 million), according to a recent statement from DNX Ventures.
With the addition of the Japan fund family, DNX Ventures is now able to assist early-stage and late-stage startups.
The emphasis will be on supporting startups in Japan, with the possibility of adding a few projects from the larger Asia-Pacific area.
A family of new funds will also be independently raised and announced by DNX for investment in the US and other countries.
The statement claims that a wide range of domestic and foreign institutional investors, financial institutions, and both new and recurring backers make up the funds investors.
Interestingly, it has attracted substantial investment from international investors based outside of Japan, including well-known companies like Atinum Investment and Morgan Stanley Investment Management Private Equity Solutions.
According to DNX Ventures, its mission is to provide investors with exceptional financial returns by supporting exceptional founders who are pursuing high-growth and positively impacting society.
The firm is excited to announce Peter McCormick as the newest member of our advisory team, in addition to the launch of the new DNX Fund IV, with the goal of supporting the expansion of its portfolio companies.
McCormick gained notoriety in 2000 when he helped found Exact Target.
He has worked in a variety of capacities for the past 14 years, including partner development, corporate development, global operations, services, product management, and marketing.
