After a successful string of investments, the corporate boosts corporate venture capital fund.
Japanese home shopping retailer Japanet has expanded its corporate VC fund, which is managed by US VC-as-a-service provider Pegasus Tech Ventures, by a four-fold increase on its initial commitment.
The fund, which now totals $200m and has Japanet as its sole limited partner, invests in frontier technologies such as generative and physical AI, and space tech.
Initially launched in 2021, the fund made early investments in AI giants, including xAI, OpenAI and Anthropic, which have since seen stratospheric value appreciation. It also invested in SpaceX, which is on the verge of going public in what is expected to be perhaps the largest IPO in history.
“Moving forward, we are excited to continue leveraging this fund to seek out the world’s latest technologies,” said Japanet CEO Akito Takata, in a release.
Japanet operates a mail-order/e-commerce business alongside sports and regional revitalisation businesses.
See all the recent Japanet-backed startup deals the CVC Funding Round Database
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
