Japan's IMJ Investment rebrands as Spiral

According to a statement, a group of existing shareholders led by the firm’s management bought a majority stake from the previous owner, Japanese lifestyle brand operator Culture Convenience Club (CCC). Spiral will incorporate the Japan and Singapore offices of IMJ Investment, with each branch continuing to manage its own investments. IMJ Investment Managing Partner Yuji Horiguchi will become CEO of Spiral.

IMJ Investment was founded in 2012 by Japanese digital marketing company IMJ Corporation. The firm, which was envisioned as an independent fund manager rather than a corporate VC arm, moved to Singapore the following year to pursue investments in Southeast Asia and has provided early-stage capital for start-ups such as Singaporean healthcare technology developer mClinica and Indonesian e-commerce venture Kudo.

In 2015 the firm turned its attention back to Japan, establishing an office in Tokyo and launching a JPY6 billion ($54 million) fund targeting Japanese start-ups in the internet and technology spaces. Portfolio companies include energy price comparison site Enechange.

Spiral’s rebranding is meant to reduce confusion among LPs and potential investees about the GP’s relationship with IMJ, which was bought by CCC last year. The firm was perceived as a captive vehicle for the parent company even though the latter had no financial stake in its funds.

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• Topics
• Southeast Asia
• North Asia
• Venture
• GPs
• Singapore
• Japan