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Japan's Globis reaches $78m first close on Fund IV

  • Andrew Woodman
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Tokyo-based venture firm Globis Capital Partners has reached a first close on its fourth fund a JPY8 billion ($78 million). Globis Fund IV, will focus on Japanese companies looking to capitalize on high-growth Asian markets as well as those in the domestic IT sector.

LPs include many of Japan's largest institutional investors and non-financial companies.

The fund, which was launched in January, is expected to reach a final close of JPY15 billion by the end of the year, JPY3 billion short of the JPY18 billion Globis raised for its third fund back in 2006. Funds I and II - which were launched in 1996 and 1999 - raised JPY540 million and JPY20 billion, receptively.

Investments will range from early and expansion stage companies all the way to late stage deals including management buyouts and carve-outs. It will commit JPY300-500 million per company.

Globis' sector focuses include web and mobile services, corporate solutions, media and content, technology, health care and education. The firm has invested in more than 100 venture companies - including Oisix, IBJ, Lifenet Insurance, Istyle and social network Gree, all of which eventually went public.

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