Dai-ichi Life backs energy-focused Japan VC fund

EEI’s fourth fund targets energy and resources-related sectors, including peripheral fields such as smart homes. It will be invested 70% in Japan and 30% in Europe. Other LP backers include Kyushu Electric Power and an investment unit of Korea Electric Power Corporation. 

Dai-ichi Life has described the commitment as an impact investment under its environmental, social, and governance (ESG) program. It emphasized the reduction of carbon dioxide emissions through the promotion of renewable energy and energy conservation as a focus of its social impact plan.

“Through the investment in these areas, we can contribute to the achievement of [sustainable development goals], while aiming to maximize our investment returns,” Shuichiro Kawamura, CEO of EEI, said in a statement. “We will strive to contribute to the realization of a sustainable society by investing in start-ups."

EEI claims to be Japan’s only independent VC focused on energy and resources. Areas of interest include energy management and efficiency incentive programs, as well as new and existing electricity and gas utilities. The firm has not specified a target for its latest fund. It launched a similar vehicle in 2015 seeking JPY10 billion.   

Dai-ichi Life is an active investor in Japan’s fast-growing venture space, with recent fund commitments to the likes of Shinsei Capital Partners, Beyond Next Ventures, and SBI Investment. Activity under the firm’s impact and ESG agenda includes an investment in Spiber, a company specializing in high-tech textiles with low environmental impact.

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• Topics
• North Asia
• Fundraising
• Venture
• Cleantech
• Japan
• energy
• Impact investment
• ESG