TOKYO, Nov. 30, 2022 /PRNewswire/ -- Global Hands-On VC (GHOVC), a Tokyo, Japan and Palo Alto, CA based venture capital firm has successfully completed a 5 billion yen first-close toward a 15 billion yen fund, GHOVC Fund I Investment Limited Partnership. GHOVC will invest in Japanese technology startups and provide hands-on support for their global success.
Sojitz Corporation, SOMPO Light Vortex Inc., SunBridge Corporation, et al. are participating in this first closing. Together with these LPs, GHOVC will support Japanese startups not only to succeed in Japan but to build successful global companies.
GHOVC invests in Japanese technology startups, helps its invested startups build management and technical talent from a global talent pool, optimize their product-market fit, and raise funds from global VCs and CVCs. For a Japanese startup to maximize its global potential, and thereby reach its best return on investment, it needs to look beyond the domestic Japanese market for customers, talent, and strategic partnerships.
Experts are noting that Japanese startup market venture returns are poised for dramatic improvement. "We have been investing in select companies in Japan and have worked with the GHOVC team. We would like to see a well-developed ecosystem for Japanese startups, so we are delighted with GHOVC's fund formation as the team can help Japanese startups with hands-on experience and build stronger startups for global competition" said Nic Brathwaite, founding managing partner of Celesta Capital, a US based VC firm.
GHOVC was established by two Japanese and three American partners, who are successful entrepreneurs and fund managers. The GHOVC team is experienced in founding and managing startups with global product teams and products adopted by global customers:
About Sojitz Corporation
"Sojitz is a general trading company that develops new businesses with flexible thinking and speed in line with our "Hassojitz" initiative—our term for describing how we bring ideas (hasso) to life as new business. Sojitz Group is engaged in a wide range of businesses globally, including manufacturing, selling, importing, and exporting a variety of products, in addition to providing services and investing in diversified businesses, both in Japan and overseas. We support the overseas expansion of startups with great technological potential by leveraging the global network we have cultivated. With the aim of greatly accelerating and developing such initiatives, we have made an LP investment in GHOVC as an anchor investor. The GHOVC team has the skills necessary for startups to expand their business globally—the ability to seek out new talent, ensure an ideal product-market fit, and provide hands-on management support. By combining GHOVC's hands-on strengths with Sojitz's comprehensive business promotion capabilities, Sojitz's role as a general trading company is to nurture the leaders of Japan's next-generation industries and support their global success." – Executive Officer Yasuhisa Nakao
About SOMPO Light Vortex Inc. ("SLV")
SOMPO Light Vortex was established in July 2021 as the core company of the Digital Business, which has become the Sompo Group's fifth business.
We are working to solve various social issues using digital technologies with the aim of creating a society in which every person can live a healthy, prosperous, and happy life in one's own way, or in other words, we SLV help achieve the Sompo Group's mission to create the theme park for security, health, and wellbeing.
"A user experience that integrates technologies and services in various fields is about to enter a period of further innovation. The technology evolution triggered by the progress of 5G and Web3, the arrival of the social implementation period of MaaS and Digital Health are some of driving forces for the rapid changes in the global economic environment, as the post-DX/COVID progresses. With a team with diverse experience, GHOVC provides Japanese startups and academia with perspectives and opportunities for global scaling. The formation of a community of scientists and others is expected, and SOMPO Light Vortex expects not only investment opportunities, but also synergies for developing diverse human resources and new business development, and we would like to actively contribute and collaborate" – Executive Vice President Takashi Uehara
About GHOVC
GHOVC, Tokyo, Japan and Palo Alto, USA based venture capital fund focused on Japanese startups that helps them reach full potential as global companies.
Disclosures
This press release provides a general introduction to GHOVC and the GHOVC Fund I and should not be relied upon as the basis for making any investment decision or for any other purpose. An investment in the GHOVC Fund I is speculative and involves a high degree of risk, which may not be suitable for all investors This press release may contain forward-looking statements about GHOVC Fund I and its plans to invest in early-stage companies, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. GHOVC undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law. GHOVC Fund I is a limited partnership for qualified institutional investors with GHOVC 1 Limited Liability Partnership as the general partner.
Inquiries https://www.ghovc.com
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