UTEC 3 L.P. FORMATION

The University of Tokyo Edge Capital (UTEC) today announced the initial closing of its 3rd fund - UTEC 3 Limited Partnership - with committed capital of 13 Billion Yen (approx. US$130M ). UTEC plans to expand the new fund size to 15 Billion Yen to 20 Billion Yen by the final closing.

 

UTEC 3 L.P. MISSION1. Become a venture capital fund to drive innovation, by building new businesses from research into industry.

2. Leverage Japan's science and technology strengths in the sectors of healthcare,life science, information & communication technology, clean technology, physical science and manufacturing technology, to expand seed and early stage investments in start-up companies with great impacts to both the Japanese industry and the global market.

3. Establish sustainable innovation eco-systems emanating from Japan, together with researchers, engineers, entrepreneurs, ventures capitalists and corporations, which will last beyond the fund's term.

 

BEYOND TRACK RECORD

UTEC 3 L.P. is the third fund since UTEC 1 L.P. which was established back in July 2004. UTEC 1 L.P., had successful IPOs of UTEC lead companies such as tella, Inc. (Cell Medicines: JASDAQ 2191), Morpho, Inc. (Imaging Technology: TSE Mothers 3653) and PeptiDream, inc. (Biopharmaceutical: TSE Mothers 4587). UTEC 2 L.P. was established in July 2009, and amongst the active portfolio companies, Naked Technology, Inc. has been acquired by mixi, Inc. (Social Network Service: TSE Mothers 2121).

In UTEC 3 L.P., we will expand seed/early stage investments through closer collaboration with the industry, to make greater impact to the global market while building sustainable foundation for innovation eco-systems in Japan.

We would like to thank all the people who helped us establish UTEC 3 L.P. and would appreciate kind continued support in pursuing our mission for innovation emanating from Japan.