Spiral Ventures Japan raises $64m

The ¥7 billion ($64 million, €51 million) fund is the largest ever fund raised by a domestic VC firm in Japan.

Spiral Ventures has held a final close at ¥7 billion ($64 million, €51 million) for its Spiral Ventures Japan Fund 1, surpassing its ¥6 billion target. The firm began fundraising in February, 2016.

Large corporates such as ASICS Ventures Corporation, MORI TRUST, Seino Holdings, Tosho Printing Company and T8 Inc. are some of the investors in the fund.

The firm will use the capital to make venture capital investments in the financial services, health care and retail sectors in Japan.