Pension giant GPIF to invest in Japanese startups for first time

Move by big-name investor highlights Japan's belated effort to grow ventures

Jul 04 (Nikkei) - Japan's Government Pension Investment Fund, one of the world's largest institutional investors, will begin investing in Japanese startups in order to give the sector a boost, Nikkei has learned.

The amount of the GPIF's investment in startups is expected to total several tens of millions of dollars. The move could serve as a magnet for other pension money and give momentum to the development of Japanese startups, which have lagged behind those in the U.S., China and other countries, observers say.

It is the first time that investment by the GPIF in a startup fund has been disclosed. Mitsubishi UFJ Trust and Banking, which is responsible for managing some of the GPIF's funds, has signed an agreement to invest in a startup fund run by Globis Capital Partners at the end of May.

Globis, launched in 1996, calls itself Japan's first full-scale "hands on" venture capital firm. Its investments include online flea-market operator Mercari and eyewear retailer Visionary.

Globis has already pulled in 50 billion yen ($370 million) in investor money for the fund and aims to expand its size to 70 billion yen by the end of the year as it looks for investment opportunities in sectors such as manufacturing, medical services and construction. ...continue reading

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