JIC Venture Growth Investments

What JIC Venture Growth Investments does

JIC Venture Growth Investments Co., Ltd. (JIC VGI) is a Tokyo-headquartered venture capital and growth investment firm established in July 2020 as the venture arm of the Japan Investment Corporation (JIC Group), a government-backed investment organization. The firm operates three fund vehicles — JIC Venture Growth Fund 1 (VGF1, completed), JIC Venture Growth Fund 2 (VGF2, with dedicated Deep Tech and Life Sciences sub-strategies), and JICVGI Opportunity Fund 1 (OPF1, a direct-secondary and listed-startup fund aligned with Japan's Startup Fostering 5-Year Plan) — through which it deploys patient capital to growth-stage startups across deep tech, life sciences, AI, space, mobility, robotics, energy, and SaaS. With 80+ portfolio companies and 36+ investment professionals sourced from INCJ, NEDO, Mizuho Securities, Accenture, and other institutions, JIC VGI combines capital provision with value-added support including introductions to large corporates, universities, government offices, and overseas funds.

The firm's business model is built on fund management fees and carried interest generated across its multiple fund vintages, with investment terms negotiated bilaterally with portfolio companies and LPs. Revenue is not publicly disclosed. Distribution is direct: JIC VGI sources, evaluates, executes, and supports investments in-house via its fund vehicles. Recent strategic activity includes co-leading Turing's ¥15.27 billion Series A (autonomous driving), participating in Alloy Therapeutics' $40 million Series E at a $1 billion valuation, leading CraftBank's ¥3.8 billion Series B, and backing space and biotech plays including ispace, Axelspace, Orbital Lasers, Restore Vision, and TeraWatt Technology. Portfolio exits span IPOs (PRONI, J-Pharma on TSE Growth Market), strategic acquisitions (Aculys Pharma to Viatris, iCARE to Omron, Grooves trade sale), reflecting a maturing portfolio with multiple liquidity paths.

JIC VGI's competitive position is anchored by its parent JIC Group affiliation, which confers regulatory alignment with Japanese industrial policy, privileged deal flow, and access to a multi-stakeholder network spanning government agencies, large corporations, and academic institutions. The firm's stated mission is to foster innovation, strengthen Japan's international competitiveness, and resolve industrial and social issues through venture and growth investment, positioning it as a policy-aligned capital provider rather than a purely returns-driven VC. Its primary customers are growth-stage Japanese startups (and select international deep tech companies), while its institutional LPs are channeled through the JIC Group ecosystem.

Name

JIC Venture Growth Investments

Legal name

JIC Venture Growth Investments Co., Ltd.

Website

https://j-vgi.co.jp

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

JIC Venture Growth Investments is a Tokyo-based, government-backed venture capital firm and subsidiary of JIC Group, operating multiple funds (VGF1, VGF2, OPF1) that provide patient growth capital to Japanese and international startups in deep tech, life sciences, AI, space, and robotics.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)

SIC

Finance Services (6199)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

akta.pro secondary industry

Corporate Deep Tech / R&D Commercialization CVC (FSANAHAL)

Keywords

• Venture capital funding
• Growth stage investments
• Deep tech investing
• Life sciences venture
• Startup ecosystem building

Headquarters

HQ city

Marunouchi

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Fund Management Fees and Carried Interest: JIC VGI generates returns through management fees on funds under management and carried interest from successful portfolio company exits. They operate multiple funds including JIC Venture Growth Fund 1 (VGF1), JIC Venture Growth Fund 2 (VGF2), and JICVGI Opportunity Fund 1 (OPF1).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

JIC VGI provides growth-stage venture capital through its managed funds (VGF1, VGF2 with Deep Tech and Life Sciences sub-strategies, and OPF1 for listed startups). The firm deploys patient risk capital from early stage through aftermarket to startups in deep tech, life sciences, AI, space, mobility, and healthcare sectors. Beyond capital, JIC VGI offers portfolio companies hands-on value creation support leveraging networks with government offices, large corporations, universities, and overseas funds.

Product overview

JIC Venture Growth Investments (JIC VGI) is a Japanese venture capital firm that operates multiple investment funds (VGF1, VGF2 with Deep Tech and Life Sciences sub-funds, and OPF1) to provide growth-stage investment support to startups. The firm's investment activities span all industrial fields including deep tech, life sciences, AI, space, mobility, and healthcare. Beyond capital provision, JIC VGI offers portfolio companies hands-on support through networks with government offices, public institutions, large companies, universities, local governments, and overseas funds. The investment policies emphasize contributing to Japan's industrial competitiveness, promoting solutions to social and industrial issues, and fostering open innovation beyond existing industry frameworks.

Differentiator

Problem solved

Functional benefit

Brands

• JIC Venture Growth Fund 1 (VGF1): Primary venture growth fund for investments in startups across all industrial fields.
• JIC Venture Growth Fund 2 (VGF2)
• JICVGI Opportunity Fund 1 (OPF1)

Products and services

• JIC Venture Growth Fund 1 (VGF1)

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Innovation Network Corporation of Japan (INCJ): INCJ was JIC VGI's predecessor organization focused on innovation-driven growth investment in Japan. Multiple JIC VGI team members came from INCJ, and both share a government-backed, industrial-policy-aligned mandate targeting deep tech and life sciences.
• JAFCO Group: JAFCO is Japan's largest venture capital firm with broad sector coverage across early and growth stages. Directly comparable to JIC VGI in deploying growth-stage capital into Japanese startups, though JAFCO is a public-listed, private-sector firm whereas JIC VGI is government-backed.
• Global Brain Corporation: Global Brain is a leading Japanese VC with deep tech focus and extensive corporate partnerships. Co-invested with JIC VGI on Turing's Series A, indicating overlapping deal flow in Japanese deep tech and growth-stage rounds.
• ANRI: ANRI is a Tokyo-based seed/growth VC focused on Japanese startups in software, AI, and frontier tech. Co-invested with JIC VGI in Atom (humanoid robotics), and competes for similar Japanese deep tech deals at earlier stages.
• Beyond Next Ventures: Beyond Next Ventures is a Japanese deep tech and university spinout-focused VC. Direct competitor for university-originated deep tech deals that JIC VGI also targets, with similar life sciences and hard-tech mandate.

Others

• Khosla Ventures: Khosla Ventures is a major US-based deep tech VC that co-invested with JIC VGI in TeraWatt Technology. While geographically focused on the US, Khosla provides a useful benchmark for deep tech VC returns and is a co-investor partner rather than direct competitor.

Broad incumbents

• SMBC Venture Capital: SMBC Venture Capital is the CVC arm of Sumitomo Mitsui Banking Corporation. Co-invested alongside JIC VGI in Atom, and represents another large Japanese corporate VC with similar broad-sector growth-stage mandate.
• Sumisho Venture Partners: Sumisho Venture Partners is the CVC arm of Sumitomo Corporation. Co-invested with JIC VGI in Atom and other Japanese deals, serving as a comparable corporate strategic VC with broad sector exposure.
• ITOCHU Technology Ventures: ITOCHU Technology Ventures is the CVC arm of ITOCHU Corporation. Co-invested with JIC VGI in TeraWatt Technology Series C, and represents another Japanese corporate strategic VC focused on growth and deep tech.
• Mitsubishi UFJ Capital: Mitsubishi UFJ Capital is the CVC arm of Mitsubishi UFJ Financial Group, one of Japan's largest banking conglomerates. Co-invested with JIC VGI in Atom and is a comparable Japanese corporate-affiliated VC with broader financial-services backing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments117 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about JIC Venture Growth Investments