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Japan Airlines launches $70m VC fund

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Japan Airlines (JAL) has provided $70 million for a venture capital fund focused on transportation technology start-ups. It will be managed by US-based TransLink Capital.

According to a statement, JAL will be involved in company co-creation and support its portfolio with access to its global resources network. Investments will be made globally and span segments related to traveler experience improvement and equipment innovation.  

JAL was active in VC recently with participation in a $90.2 million round for Japanese lunar exploration company iSpace, which was touted at the time as the country's largest-ever Series A. Last year, the firm contributed to the creation of the JPY20 billion ($183 million) All-Japan National Tourism Fund.

TransLink operates via offices in Silicon Valley, Tokyo, Beijing, Seoul, and Taipei, with a focus on connecting US technology start-ups with strategic partners in Asia. Previous activity in Japan includes a $9 million investment alongside World Innovation Lab for Somnoware Healthcare Systems.

Japan has contributed significantly to a broader trend of Asian corporate VC fundraising, with the creation of Panasonic Ventures, Alliance Ventures, and the launch of a $26 million vehicle by auto supplier Toyoda Gosei. Last November telecom giant NTT Corporation set up a $500 million tech fund. 

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