The second fund of UTokyo Innovation Platform Co. comes to final closing with JPY25.6 billion, involving 11 institutional investors

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Under "Kanmin Innovation Program" (Note), UTokyo established UTokyo IPC in 2016 as a wholly owned subsidiary. Its objective is to further expand its startup ecosystem through organic partnership with startups, investors such as venture capital firms and established companies and universities/research institutes, thereby making it a global hub for innovation. The IPC Fund 1, which UTokyo IPC launched immediately after its foundation, has so far invested in 25 companies. Three have succeeded in launching IPOs. UTokyo IPC also hosts "1stRound," a university-affiliated semi-annual incubation program launched in 2017. It currently operates as an industry-supported consortium with 17 industry partners and sponsors, as well as four national universities -- including UTokyo. Forty-three alumni startups are leveraging this program to actively develop their business, and five of them are receiving our continued support through investment from AOI Fund 1.

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星期四, 二月 10, 2022
Information
Tags: 
Initial public offering, Industry, Growth, Norinchukin Bank, JPY, MUFG Bank, AOI, SBI Group, Investment, IPC, Daikin, General partnership, Program, Private sector, University, USD, Like a Boss (film), University of Tokyo, Ecosystem, Partnership, Sumitomo Mitsui Banking Corporation, Financial services
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BELGIUM, CZECH REPUBLIC, DENMARK, FINLAND, IRELAND, LUXEMBOURG, NORWAY, PORTUGAL, SWITZERLAND, TOKYO, JAPAN, KYOTO, OSAKA
摘要
Key Points: 
  • 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 unlimited liability partner of the fund, while UTokyo serves as its anchor limited partner.
  • The final closing amount of JPY 25.6 billion exceeds the amount of UTokyo IPC's first fund, Innovation Platform No.
  • 1 Investment Limited Partnership (IPC Fund 1), which was launched in 2016, with a pledged financial contribution of JYP25.0 billion.


The second fund of UTokyo Innovation Platform Co. comes to final closing with JPY25.6 billion, involving 11 institutional investors

TOKYO, Feb. 10, 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 national university, 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 unlimited liability partner of the fund, while UTokyo serves as its anchor limited partner. The final closing amount of JPY 25.6 billion exceeds the amount of UTokyo IPC's first fund, Innovation Platform No. 1 Investment Limited Partnership (IPC Fund 1), which was launched in 2016, with a pledged financial contribution of JYP25.0 billion.

Strengthening competitiveness of Japanese industry by developing start-up ecosystem around UTokyo

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. The AOI Fund 1, currently consisting of 14 portfolio companies, deals with a broad range of investment projects, from large-scale ones of around USD 20 million to seed-stage startups trying to explore the potentialities of industry and academia.

Under "Kanmin Innovation Program" (Note), UTokyo established UTokyo IPC in 2016 as a wholly owned subsidiary. Its objective is to further expand its startup ecosystem through organic partnership with startups, investors such as venture capital firms and established companies and universities/research institutes, thereby making it a global hub for innovation. The IPC Fund 1, which UTokyo IPC launched immediately after its foundation, has so far invested in 25 companies. Three have succeeded in launching IPOs. UTokyo IPC also hosts "1stRound," a university-affiliated semi-annual incubation program launched in 2017. It currently operates as an industry-supported consortium with 17 industry partners and sponsors, as well as four national universities -- including UTokyo. Forty-three alumni startups are leveraging this program to actively develop their business, and five of them are receiving our continued support through investment from AOI Fund 1.

UTokyo's charter defines the university an institution that "serves the global public." We are committed to expanding the startup ecosystem and lead Japan's open innovation.

Outline of the AOI 1 Fund

General Partner: University of Tokyo Innovation Platform Co., Ltd.
Limited Partners: MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, SBI Group, Fuyo General Lease Co., Ltd., DBJ Group, Daikin Industries, Ltd., Mitsubishi Estate Co., Ltd., Hakuhodo Inc., Zeon Corporation, the Norinchukin Bank, the University of Tokyo and one institutional investor.
Fund size: JPY25.615 billion
Duration: 15 years from 2020
Investment targets: Corporate spinoffs, new companies through joint ventures and seed-stage startups, all leverage industry-established assets and academia-nurtured results, e.g., of UTokyo. 

About University of Tokyo Innovation Platform Co., Ltd. (UTokyo IPC)

Outline: An investment company committed to developing an innovation ecosystem around UTokyo
Establishment: January 2016
Stockholder: UTokyo (100%)
Address: 261 Entrepreneur Lab, South Clinical Research Bldg., Hongo 7-3-1, Bunkyo-ku, Tokyo Japan
Representative: President and CEO Katsuhiko Oizumi
Website: https://www.utokyo-ipc.co.jp/en/

(Note) "Kanmin Innovation Program" is a government initiative launched in 2013 for fostering startup investment around national universities in Japan. Four leading national universities -- Tohoku, Tokyo, Kyoto and Osaka -- established venture investment subsidiaries as well as venture capital funds under this initiative. (The phrase "Kanmin" indicates "public-private partnership" in Japanese.)  The cumulative fund size is JPY 125 billion, one-fifth of which has been provided by the private sector. More than 140 startups have received investments from the funds. 

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