DNX Ventures, a Japan and U.S.-based venture capital firm, has announced the final close of two new Japan funds, raising a total of approximately 36.5 billion yen (U.S. $243 million).
In a statement, the firm announced the final close of $188 million for Japan Fund IV and $55 million for Japan Annex Fund III, dedicated to follow-on investments.
Total amount raised for the Japan-focused funds including Japan Seed Fund is approximately 39.5 billion yen (U.S. $263 million) with a capacity to invest in seed to late stage business to business (B2B) startups in Japan, DNX Ventures said in recent statement.
This expansion of the Japan fund family empowers DNX Ventures to support startups from their inception through to the late stages.
The focus will be on nurturing startups in Japan, with the potential inclusion of select ventures within the broader Asia region.
Additionally, DNX will separately raise and announce a family of new funds for investment in the U.S. and other regions.
According to the statement, the funds investors encompass a diverse group of domestic Japanese and international institutional investors, financial institutions, and both returning and new supporters.
Notably, it has garnered significant investment from global investors situated outside of Japan, including prominent entities such as Morgan Stanley Investment Management Private Equity Solutions and Atinum Investment.
DNX Ventures said its commitment lies in generating outstanding financial returns for its investors by investing in exceptional founders who are pursuing high-growth and making a positive impact on society.
In addition to the launch of the new DNX Fund IV, the firm is thrilled to announce Peter McCormick as the latest addition to our advisory team, aimed at bolstering the growth of its portfolio companies.
McCormick is renowned for co-founding Exact Target in 2000.
Over a span of 14 years, he has embraced numerous roles encompassing corporate development, global operations, partner development, services, product management, and marketing.
It is noted that Exact Target made its debut on the NYSE in 2012, and subsequently has been acquired by Salesforce for $2.5 billion in 2013, creating Salesforce Marketing Cloud – a global leader in marketing automation.
McCormick brings a wealth of experience in the B2B SaaS sector, along with an expansive network.
His expertise will be instrumental in guiding the founders and management teams within the DNX Ventures portfolio, propelling them towards achieving their strategic objectives.
In addition to McCormick, the firm is also joined by five additional advisors, each an expert in software as a service (SaaS) and/ or technology, from both domestic and international spheres.
DNX is a venture capital fund with offices in Silicon Valley and Tokyo that has been investing in B2B startups since 2011, primarily in the Japanese and U.S. markets.
To date, the firm has invested in more than 190 startups, mainly in Japan and the U.S., and have led 23 companies to exits, through a total of eight funds totaling approximately U.S. $750 million under management, including five main funds and annex/seed funds.
Among B2B startups, the main areas of investment are in cloud SaaS, fintech, deep tech, and sustainability, all in early stages.
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