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Mizuho closes $220m Japanese venture fund

The Japanese venture capital firm affiliated with Mizuho Bank has closed a ¥22bn fund to invest in diverse sectors.

Mizuho Capital, the venture capital arm of the Mizuho Financial Group, has raised ¥22 billion ($219.5m; €140.7m) for its largest fund to date.

The fund, which is called “Mizuho Capital No. 3” and does not have a sector focus, received commitments from a total of 10 Japanese limited partners, comprised primarily of financial institutions and also including other divisions of the Mizuho Financial Group.

Fund III will be investing mainly in Japan, though the company told PEO investments will also be made overseas on an opportunistic basis. Mizuho Capital has invested in China, Taiwan and the US in the past.

The venture firm closed its previous fund, “Mizuho Capital No. 2”, on ¥18.6 billion in September 2005 and has invested ¥15 billion from that fund so far, the company said.

Mizuho Capital now manages nine funds and has assets of approximately ¥66 billion.