Launch of Venture Investment Project with JPY 30 Billion
Creating Japan’s New Industries through
Growth-stage Startup investments
May 15, 2018
Mitsui Fudosan Co., Ltd.
Global Brain Corporation
Tokyo, Japan, May 15, 2018 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it will launch a JPY 30 billion venture investment project (the “Growth-stage Project”), jointly with Global Brain Corporation (“Global Brain”), one of Japan’s top-tier venture capital firms. To achieve the ultimate goal of creating new industries both for strengthening Mitsui Fudosan’s business and for expanding the scope of its operations, the Growth-stage Project mainly targets growth-stage startups with innovative technologies and/or services that are essential to realize the concept of “smart-cities”.
In addition, we will launch “Innovation Building Program,” at BASE Q, new open-innovation space opened in Tokyo Midtown Hibiya from June 18, 2018. In this program, we literally build an open-network platform together with startups, Japanese large corporations, and other business partners. Combining the Growth-stage Project with BASE Q, we, Mitsui Fudosan, drive the innovation of real estate industry. Ultimately, we unlock the future of Society 5.0, the vision in which Japan’s Cabinet Office takes initiative.
The Growth-stage Project
This corporate venture capital project is one-of-a-kind in that it focuses on growth-stage startups which can be the next key partners of “smart cities”. The target verticals are PropTech, IoT, Cyber Security, E-commerce, FinTech, Robotics, and AI. The average check size will be several billion yen per company. Investment decisions will be made jointly by Mitsui Fudosan and Global Brain as it is the joint-venture project between these two parties. Mitsui Fudosan will offer hands-on supports to the invested startups with Global Brain, such as supports of executive and key employee search, adaptations to properties of Mitsui Fudosan’s under management, and connections with Japan’s leading companies.
While the momentum of startup funding in Japan has been on the rise in recent years, Japan’s startup ecosystem has scarce equity providers that are ready to write large checks to startups. The total investment budget of the Growth-stage Project is JPY 30 billion, making it one of the largest corporate venture capital projects in Japan. Now, 31VENTURES has two investment buckets, a JPY 5 billion corporate venture capital fund, and a JPY 30 billion Growth-stage investment project.
Project Overview
| Project name |
31VENTURES ? Global Brain ? Growth I Project |
| Operators |
Mitsui Fudosan Co., Ltd. and Global Brain Corporation |
| Project size |
JPY 30 billion |
| Operation term |
10 years |
| Investment target |
Growth-stage startups, etc. |
| Focused investment sectors |
Sectors in which Mitsui Fudosan’s asset resources can be utilized, including (1) PropTech, (2) IoT, (3) Cyber Security, (4) Sharing Economy, (5) E-commerce, (6) FinTech, (7) Energy and GreenTech, (8) Robotics, (9) AI and Big Data and (10) Healthcare |
About ?31VENTURES? and 釘ASE Q?
Mitsui Fudosan established the Venture Co-creation Department (31VENTURES) in April 2015 for the purpose of creating new industries to strengthen and innovate Mitsui Fudosan's businesses. 31VENTURES aims to realize co-creation of new industries together with startups through its fully integrated venture capital services of 擢inance,? 鉄upport? and 鼎ommunity.?
At the end of 2015, we established ?31VENTURES Global Innovation Fund I?, a JPY 5 billion corporate venture capital fund. We have invested in early-stage startups since its inception. The Growth-stage Project will be Mitsui Fudosan's second CVC project, while carrying on the same philosophy of the first fund.
"BASE Q" is a new platform of an open-innovation to drive innovation and to tackle social issues. It has four states-of-the-art spaces: 轍 LOUNGE?, 轍 HALL?, 轍 KITCHEN? and 轍 STUDIO?. Mitsui Fudosan, Dentsu Inc. and EY Japan will jointly commence 的nnovation Building Program,? from June 18, 2018.
http://www.31ventures.jp/en/
https://www.baseq.jp/
About Global Brain Corporation
Global Brain Corporation is one of the top-tier venture capital firms in Japan. By leveraging its global reach and a broad network of Japanese major corporations, Global Brain provides hands-on supports to its portfolio companies, grow with them, and strive to bring innovations to the industry and the society.
Based in Tokyo, San Francisco, Seoul, and Singapore, Global Brain is committed to providing startups with the support they need to scale the business and go global.
In 2015, it established ?31VENTURES Global Innovation Fund I? and its cumulative AUM including the Growth-stage Project exceeds JPY 100 billion.
http://globalbrains.com/en/
