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Venture Capital
incubatefund.com

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Investments

215

Portfolio Exits

9

Funds

6

About Incubate Fund

Incubate Fund is a venture capital firm that specializes in investing in seed-stage startups in Japan.

Incubate Fund Headquarter Location

ARK Mori Building 3F 1-12-32, Akasaka, Minato-ku

Tokyo, 107-0052,

Japan

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Latest Incubate Fund News

New venture capital fund to invest in world-leading research and entrepreneurs

May 26, 2022

Lifetime Ventures launched the OIST-Lifetime Ventures Fund in collaboration with the Okinawa Institute of Science and Technology (OIST) to deliver impactful science-based deep tech solutions in sectors that include healthtech, the future of work, sustainable living, and the blue economy. Lifetime Ventures, in collaboration with OIST and backed by Incubate Fund, targets a total fund size of ¥5B (US$40M) that will focus on promising early-stage startups at OIST, in Japan, and globally. “With this fund, Lifetime Ventures is growing to three partners – two of whom have significant overseas experience – and expanding from Yokohama to Okinawa and Kyoto thus participating both to the internationalization and the regionalization of the Japanese venture capital industry,” says Lifetime Ventures General Partner Ryosuke Kimura. “Lifetime Ventures is excited to collaborate with OIST at this key stage of its development. We will maintain our Okinawa base on OIST’s campus, allowing us to source startup ideas and work closely with researchers to move technologies to the marketplace. We will also leverage OIST’s potential as a talent magnet to build a community of world-class entrepreneurs throughout Japan and beyond.” “There has never been a better time to start a company in Japan — venture capital available to startups in Japan has increased ten-fold in the last decade,” says OIST President and CEO Peter Gruss. “OIST is excited to partner with Lifetime Ventures to build on this momentum. With OIST as an intellectual center, Okinawa will benefit from the confluence of world-leading research with risk capital to realize its potential as a regional innovation ecosystem.” The collaboration between Lifetime Ventures and OIST builds on a shared vision to bridge research and commercialization by supporting technical or domain experts and the fund is structured to give founders the flexibility and the support beyond funding they need to transition their ideas or research into commercially successful companies. “We made OIST an attractive place for the world’s best scientific minds and we aspire to make it one of the most attractive places for the best innovators and entrepreneurs” says OIST Executive Vice President Gil Granot-Mayer. “In recent years, OIST has persistently built-up resources and capabilities to fuel science and innovation in Okinawa. We offer startups from anywhere in the world a chance to build their startup in Okinawa. We also provide access to state-of-the-art equipment, incubation facility, our business partners, and a growing, international community of like-minded peers. This fund is the next step in building a sustainable startup ecosystem around OIST and a great opportunity for Okinawa to place itself as one of the emerging hubs of innovation in the APAC region.” The OIST-Lifetime Ventures Fund will have strong support and investment from the fund of funds arm of Incubate Fund, a leading venture capital firm in Japan. “Incubate Fund’s IFLP Fund has a long history of helping young venture capitalists start their own funds,” says General Partner Paul McInerney. “We are delighted to see Lifetime Ventures – a “graduate” of our IFLP program with an exceptional track record of impact over two successful funds – collaborate with OIST, one of Japan’s top research institutions. The combination of Lifetime Venture’s hands-on approach and OIST’s rich bench of technical founders has immense potential for global impact.” About Lifetime Ventures Lifetime Ventures is a pre-seed/seed-focused venture capital firm based in Yokohama that aims to create businesses that will be loved and continue to exist for a long time. Established in 2017, Lifetime Ventures has invested in 24 startups to date, including UUUO, a B2B platform creating a new distribution and resource management model for the fisheries industry, and Rehab for Japan, a leading age-tech for an elderly friendly society. About the Okinawa Institute of Science and Technology The Okinawa Institute of Science and Technology (OIST) is a cross-disciplinary graduate school offering a five-year Ph.D. program in science. OIST was founded in 2011 by the Government of Japan to contribute to science and technology worldwide, attract leading researchers from Japan and abroad to conduct high-quality research, advance the development of a world-class research hub, and nucleate a knowledge cluster that will catalyze technology transfer and industrial innovation in Okinawa, Japan. About Incubate Fund Founded in 2010, Incubate Fund is a leading seed-stage venture capital firm based in Tokyo, Japan. With over $840 million in assets under management, the firm invests in early-stage startups and venture capital funds in Japan.

Incubate Fund Investments

215 Investments

Incubate Fund has made 215 investments. Their latest investment was in Ax Robotix as part of their Seed VC on June 6, 2022.

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Incubate Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/22/2022

Seed VC

Ax Robotix

$0.74M

Yes

2

6/20/2022

Seed VC - II

Iwatani Giken

$2.94M

No

2

6/15/2022

Series A

Simple Form

$5.08M

No

3

5/9/2022

Seed VC

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$99M

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10

4/26/2022

Series C

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$99M

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10

Date

6/22/2022

6/20/2022

6/15/2022

5/9/2022

4/26/2022

Round

Seed VC

Seed VC - II

Series A

Seed VC

Series C

Company

Ax Robotix

Iwatani Giken

Simple Form

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Amount

$0.74M

$2.94M

$5.08M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

2

2

3

10

10

Incubate Fund Portfolio Exits

9 Portfolio Exits

Incubate Fund has 9 portfolio exits. Their latest portfolio exit was Minacolor on October 22, 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

10/22/2021

Acquired

$99M

2

4/20/2021

Acquired

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$99M

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10

12/21/2020

IPO

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$99M

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10

3/31/2020

Corporate Majority

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$99M

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10

11/18/2019

Acquired

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$99M

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10

Date

10/22/2021

4/20/2021

12/21/2020

3/31/2020

11/18/2019

Exit

Acquired

Acquired

IPO

Corporate Majority

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

Incubate Fund Fund History

6 Fund Histories

Incubate Fund has 6 funds, including Incubate Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/26/2018

Incubate Fund

1

1/5/2015

IoT Incubate Fund

$99M

10

3/4/2013

Seed Incubate Fund

$99M

10

Incubate Fund US

10

Incubate Fund V

10

Closing Date

2/26/2018

1/5/2015

3/4/2013

Fund

Incubate Fund

IoT Incubate Fund

Seed Incubate Fund

Incubate Fund US

Incubate Fund V

Fund Type

Status

Amount

$99M

$99M

Sources

1

10

10

10

10

Incubate Fund Team

5 Team Members

Incubate Fund has 5 team members, including current General Partner, Tohru Akaura.

Name

Work History

Title

Status

Tohru Akaura

General Partner

Current

Masahiko Honma

General Partner

Current

Paul McInerney

General Partner

Current

Yusuke Murata

General Partner

Current

Keisuke Wada

General Partner

Current

Name

Tohru Akaura

Masahiko Honma

Paul McInerney

Yusuke Murata

Keisuke Wada

Work History

Title

General Partner

General Partner

General Partner

General Partner

General Partner

Status

Current

Current

Current

Current

Current

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