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Venture Capital
FINANCIAL | Investment Firms & Funds
spiral-ventures.com

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Investments

105

Portfolio Exits

11

Funds

8

About Spiral Ventures

Spiral Ventures is a venture capital firm operating in both Asia and Japan. The firm aims to invest in startups that address social needs and create new futures in Southeast Asia and India (through Spiral Ventures Asia) and Japan (through Spiral Capital).

Spiral Ventures Headquarter Location

8 Eu Tong Sen Street The Central Office 2

059818,

Singapore

+65-6420-6377

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Spiral Ventures Rank

Latest Spiral Ventures News

Nudge Inc. Raises Additional Funding from Insignia Ventures Partners and Sony Innovation Fund

Nov 19, 2021

Nudge Inc., a next-generation credit-card provider and a future challenger bank in Japan, announced it has expanded its Pre-Series-A round with new funding from Insignia Ventures Partners and Sony Innovation Fund. The round was led by Spiral Capital and Headline Asia with participation from existing investor Genesia Ventures and founder Takashi Okita and brings the total amount raised to $10 million USD. Founded in 2020, Nudge Inc. is on a mission to create the future of financial services through collective action. It aims to achieve financial inclusion in Japan by becoming a challenger bank through open innovation with its equity partners. It also advocates a “free,” “fair,” and “flat” organizational culture that constitutes its corporate philosophy. Nudge Inc. launched its next-generation credit card service, “Nudge,” in September 2021 after registering as a small-amount comprehensive credit purchase intermediator*. Nudge is a safe and secure credit card service that provides its customers with the unique ability to support their favorite sport teams, artists, or creators. With every purchase, a portion of the transaction fee goes to a participating team, artist, or creator. With a growing list of options, the varied list includes a mixed martial arts champion, local basketball teams, and a Japanese music diva – just to name a few. Nudge Inc. also provides a simple onboarding process on its app and flexible repayment. With the successful launch of its credit card service, Nudge Inc. plans to further accelerate the expansion of the “Nudge” card service and its existing services as the company works towards becoming a challenger bank. In order to further develop its services, the company has also been aggressively recruiting new talent. Subject to shareholders’ approval, Nudge Inc. will also appoint two new external board members before the end of 2021 to enhance the company’s corporate governance as a responsible financial services provider. Takashi Okita , CEO of Nudge Inc. said, “I am very pleased to welcome our two new investors Insignia Ventures Partners and Sony Innovation Fund. With their partnership, we will leverage their networks’ connections that help us accelerate the expansion of our business from the current credit card services to other types of products such as NFTs and expand to additional geographies. We look forward to partnering with all our investors as we continue to take an out-of-the-box approach to bring the future experience of financial services to consumers.” Tan Yinglan , Founding Managing Partner of Insignia Ventures Partners said, “We’ve had the privilege of being early backers to some of the leading digital banks and neobanks in Southeast Asia, and now I’m excited to also be partnering with Takashi Okita-san and his team at Nudge as they build a challenger bank to reinvent financial services in Japan! Digital banking is still in its early days in Asia, and we’ve learned that a strong operator background and regulatory connections are key in a leader navigating the growth of a digital bank in this landscape. I’ve had the pleasure of knowing Okita-san for a long time and witnessing his stellar entrepreneurial career across Hong Kong and Tokyo, from the private to the public markets. We believe he has been able to leverage these strengths in experience and connections to bring Nudge to life, being one of the first companies to secure the new Japanese credit card license, and take the company even further as we enter the digital banking chapter of financial services in Asia.” Gen Tsuchikawa , Chief Investment Manager of Sony Innovation Fund said, “Under an experienced management team, Nudge approaches issues the traditional financial industry faces head-on and provides a new value of customer-oriented experience through utilizing the fan community. We will continue to support the company’s business growth in collaboration with many investors and partners.” Small-amount comprehensive credit purchase intermediator: In Japan, credit card issuers need to register to the Ministry of Economy, Trade and Industry for operating credit card services. The small-amount comprehensive credit purchase intermediator is a new license established in 2020 that requires a simpler registration process for new market entrants. Nudge Inc. can provide its customers with better user experience with this license and by utilizing digital technology.

Spiral Ventures Investments

105 Investments

Spiral Ventures has made 105 investments. Their latest investment was in Nudge as part of their Seed VC - III on November 11, 2021.

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Spiral Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/19/2021

Seed VC - III

Nudge

$10M

No

1

11/8/2021

Seed VC - II

LexxPluss

Yes

2

10/6/2021

Series A

207

$4.48M

Yes

1

9/29/2021

Series A - II

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$99M

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10

9/20/2021

Series A

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$99M

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10

Date

11/19/2021

11/8/2021

10/6/2021

9/29/2021

9/20/2021

Round

Seed VC - III

Seed VC - II

Series A

Series A - II

Series A

Company

Nudge

LexxPluss

207

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Amount

$10M

$4.48M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

2

1

10

10

Spiral Ventures Portfolio Exits

11 Portfolio Exits

Spiral Ventures has 11 portfolio exits. Their latest portfolio exit was Quan on October 25, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/25/2021

Merger

1

10/22/2021

Acquired

2

4/21/2021

IPO

$991

2

00/00/0000

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10

00/00/0000

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$991

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10

Date

10/25/2021

10/22/2021

4/21/2021

00/00/0000

00/00/0000

Exit

Merger

Acquired

IPO

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Companies

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Valuation

$991

$991

Acquirer

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Sources

1

2

2

10

10

Spiral Ventures Fund History

8 Fund Histories

Spiral Ventures has 8 funds, including Logistics Innovation Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/24/2020

Logistics Innovation Fund

$66.07M

1

1/29/2018

Spiral Ventures Japan Fund 1

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$99M

10

1/15/2018

Spiral Ventures Asia Fund I

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$99M

10

2/11/2016

IMJ Investment Partners Japan Fund I

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$99M

10

6/11/2015

IMJ-IP Open Innovation Fund I

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$99M

10

Closing Date

8/24/2020

1/29/2018

1/15/2018

2/11/2016

6/11/2015

Fund

Logistics Innovation Fund

Spiral Ventures Japan Fund 1

Spiral Ventures Asia Fund I

IMJ Investment Partners Japan Fund I

IMJ-IP Open Innovation Fund I

Fund Type

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Status

Amount

$66.07M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

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