Nomura-Keio Fund Boosts Investment Target for Japan Startups
- University, brokerage increase goal by 50% to 15 billion yen
- Competition for investing in startups is heating up: Yamagishi
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Keio University and Nomura Holdings Inc. increased the fundraising goal for their venture-capital partnership by 50 percent to 15 billion yen ($147 million) after demand from Japanese financial firms during the first phase of financing exceeded expectations.
Keio Innovation Initiative Inc., founded by Japan’s oldest university and biggest brokerage, closed the first round last month with almost 5 billion yen, about 50 percent more than it anticipated, Chief Executive Officer Kotaro Yamagishi said in an interview. The fund operator aims to raise another 10 billion yen for the second and third phases over 10 years, he added.