Japan's Future Venture Capital raises $5m venture fund
Japan's Future Venture Capital has raised a JPY500 million ($5 million) venture fund, Ehime Venture Fund 2013.
The new fund, which is backed by regional lender Ehime Bank, will focus on making investments in unlisted high growth technology companies in Ehime prefecture in Western Japan, with a view to taking them public.
According to Nikkei, Ehime Bank has committed JPY475 million to the fund, with Future Capital putting in the rest. The fund will have a 10 year life span, with an option of a two year extension, and is looking to invest in around 10 companies.
It is the successor vehicle to the JPY500 million Ehime Venture Fund 2004. So far four companies from this fund have floated on the Tokyo Stock Exchange including agri-venture business Berg Earth, which had its IPO last year, and medical devices manufacturer AdMeTech which is due to list on the Tokyo Pro Market this month.
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