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Tokyo, July 31, 2023 – Japan Investment Corporation (JIC) has announced the establishment of the JPY40 billion JICVGI Opportunity Fund No.1 Investment Limited Partnership (OPF1), which will be managed by subsidiary JIC Venture Growth Investments Co., Ltd. (JIC VGI).

JIC aims to stimulate a virtuous cycle of risk capital to support next-generation industries inJapan. To achieve this vision, JIC promotes open innovation as a means for supportinggrowth and enhancing the international competitiveness of businesses. JIC approachesthese challenges by stimulating private sector investments in open innovation together with JIC’s own investment, while fostering investment professionals.

To achieve its mission, JIC invests in policy-relevant strategic business areas through LP investments in funds under JIC’s umbrella and in private funds.

JIC VGI has been investing in startups through JIC Venture Growth Fund No.1 Investment Limited Partnership (VGF1), established in September 2020, and JIC Venture Growth Fund No.2 Investment Limited Partnership (VGF2), established in December 2022. By forming OPF1, JIC VGI will engage in investment activities to support the creation of unicorns and the sustainable and rapid growth of listed startups – one of the JIC initiatives included in the government's “Startup Development Five-year Plan” released on November 28, 2022.

For more information Here.