Ex-Goldman Japan strategist launches ESG VC fund

MPower Partners is targeting $150 million for its debut vehicle and has already won LP support from the likes of Sompo Holdings, Dai-ichi Life Insurance, and Sumitomo Mitsui Trust Holdings. Unnamed overseas investors are also participating.

The fund is seeking to "revolutionize Japan's venture ecosystem via greater globalization, diversity, and innovation," according to MPower's website. It will help back entrepreneurs who are providing tech-enabled solutions to societal challenges and help companies drive sustainable growth through ESG integration.

Targets will primarily be growth-stage, scalable Japanese companies, as well as select early-stage global businesses looking to enter the Japanese and Asian markets. Key investment themes include health and wellness, financial technology, next-generation working practices and education, next-generation consumption, and environment and sustainability.

The name MPower is a reference to the three female founders, whose maiden names all start with the letter M. It also plays on the notion of empowerment and the power of "En," which means a circle or ecosystem in Japanese.

Matsui's two co-founders and fellow general partners are: Yumiko Murakami, formerly head of the OECD Tokyo Center and before that a managing director at Goldman and Credit Suisse; and Miwa Seki, who worked in investment banking for Morgan Stanley and then led the Japan office for asset manager Clay Finlay.

Eriko Suzuki, previously a general partner at Fresco Capital and a director at Mistletoe, has been recruited as a managing director. Mistletoe is a social impact investment firm established by Taizo Son, chairman of mobile gaming company GungHo and brother of SoftBank founder Masayoshi Son. MPower also has several external advisors, among them David Chao of DCM.

Matsui, who ended her 26-year career with Goldman last December, is well-known for her "womenomics" research on the link between Japan's gender employment gap and GDP. It spurred former Prime Minister Shinzo Abe to promote gender diversity as part of the country's growth strategy. Matsui has also advised numerous Japanese companies on global best practices in corporate governance.

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• Topics
• North Asia
• Venture
• Fundraising
• GPs
• Japan
• ESG
• MPower Partners