NewsFinance

Japanese 500 startup crew going independent with $45m fund

The 500 Startups Japan crew is going independent. Coral Capital is the new firm with $45 million funds.

Similar to 500 Startups Japan, Coral will essentially continue to work as U.S. firm made in Japan, where it made more than 40 investments including satellite startup Infostellar, Kakehashi,  SmartHR and Pocket Concierge, which was acquired by American Express.

In an interview with Techcrunch, Riney explained “Coral will lead a foundational role for the marine ecosystem, it’s will be a symbolic icon which marks its presence in the Japanese startup ecosystem.

Coral Capital Cofounders James Riney and Yohei Sawayama previously led 500 Startups in Japan.

Riney stated that Coral and 500 Startups Japan investments will not mix, and the team will continue to manage separately.

Riney stated that in the last four years, he has seen many founders leaving their stable jobs and starting more and more new ventures which bode well for the Japanese ecosystem.

He also stated that “Now people are more interested in seeing entrepreneurism as a way to change their industry.”

Coral will act as a catalyzer which will continue to push startup culture in Japan, a country which is known for its technology reforms, massive industrialization, and jobs with an absence of early-stage capital investment need for founders.

Lot of work we can do, and the impact it can make in Japan will be much bigger than the Silicon Valley,” Riney said.

He stated that the new firm is agnostic about areas it will invest. If you see our portfolio, a lot have tended to be in industries or tech sectors, such as insurance, healthcare, and logistics.”

Coral Capital reached its US$45 million funding target and managed a total of around US$100 million, including the US$35 million that comprises the 500 Japan fund.

 

https://techcrunch.com/2019/03/04/coral-capital-45-million/

Back to top button