Energy & Environment Investment

What Energy & Environment Investment does

Energy & Environment Investment, Inc. (EEI), 株式会社環境エネルギー投資, is a Tokyo-based venture capital firm founded in 2006 by Shuichiro Kawamura. The firm positions itself as the only venture capital firm in Japan exclusively dedicated to the environment and energy sectors, investing across three thematic pillars: Energy Transition, Mobility & Transportation, and Smart Society. EEI's "product" is fund management, operating three active vehicles: EEI Fund 5 Innovation and Impact Investment (JPY 30 billion, launched September 2022, final close January 2024), EEI Fund 4 Innovation and Impact Investment (JPY 15.20 billion, launched June 2018), and the newer EEI Booster1 Investment Limited Partnership (first close July 5, 2024, final close February 18, 2026). The firm invests from seed through Series B and beyond, holding stakes in 50+ portfolio companies including Nature Inc., RENOVA, Synspective, Astroscale, SkyDrive, Asuene, Tsubame BHB, Sharing Energy, ElevationSpace, pH7 Technologies, Echandia, and TS Conductor.

EEI monetizes via two streams typical of a Japanese VC manager: (1) recurring management fees on committed/deployed capital across its three fund vehicles, and (2) carried interest earned when portfolio companies exit through IPO or M&A. The LP base is anchored by Japanese institutional investors (Dai-ichi Life, Mizuho Securities, Mizuho Bank, SBI Holdings, Sumitomo Mitsui Trust Bank, Tokio Marine & Nichido), strategic corporates including utilities and energy majors (Kyushu Electric, Kansai Electric/K4 Ventures, Toshiba, ENEOS, Shell Ventures, PTT), and Japanese state-backed capital (JIC, SME Support Japan). The firm distributes capital and value-add services (international network access, IPO preparation support, corporate partnership facilitation) through direct LP and founder relationships rather than intermediated channels.

EEI's exit track record includes 10+ IPOs (W-Scope 2011, CRE 2015, JMC 2016, RENOVA 2017, Kasumigaseki Capital 2018, Jimoty 2020, coconala 2021, Casy 2022, Synspective and Astroscale 2024). Operationally the firm maintains a lean team of 11-50 investment professionals and support staff, including a global footprint with Europe-based Venture Partners (Itaru Shiraishi, Masaki Yano) and a UK Advisor (Steve Horley), enabling cross-border deal flow into and out of Japan.

Name

Energy & Environment Investment

Legal name

株式会社環境エネルギー投資

Website

https://ee-investment.jp

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Energy & Environment Investment (EEI) is a Tokyo-based venture capital firm founded in 2006, managing three funds (Fund 4, Fund 5, Booster1) that invest exclusively in Japanese and global startups addressing decarbonization, mobility electrification, and smart society themes for institutional and corporate LPs.

Ownership category

akta.pro rank

Product category

Venture Capital Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)

akta.pro secondary industries

ESG/Sustainable Investment Advisory (FSAEAAAJ), Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)

Keywords

• Venture capital investment
• Clean energy funding
• Impact investing services
• Environment sector ventures
• Startup equity financing

Headquarters

HQ city

Higashi-shinagawa

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Fund Management Fees: EEI earns management fees from operating its venture capital funds (EEI Fund 5, EEI Fund 4, and EEI Booster1). The funds have sizes of JPY 30 billion (Fund 5) and JPY 15.20 billion (Fund 4), with typical VC management fee structures.
2. Carried Interest: VC firms typically earn carried interest (performance fees) when portfolio companies achieve successful exits through IPO or M&A transactions.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Energy & Environment Investment (EEI) is a venture capital firm that manages multiple funds investing in early-stage and growth-stage startups focused on environment and energy themes. The firm operates three fund vehicles (EEI Fund 5, EEI Fund 4, and EEI Booster1) and provides growth capital, business development support, and international network access to portfolio companies across Energy Transition, Mobility & Transportation, and Smart Society sectors, while earning management fees and carried interest from institutional and corporate limited partners.

Product overview

Energy & Environment Investment (EEI) is Japan's only venture capital firm exclusively focused on the environment and energy sectors. Founded in 2006, EEI operates three named investment funds — EEI Fund 5 (¥30 billion, launched September 2022), EEI Fund 4 (¥15.20 billion, launched June 2018), and EEI Booster1 Investment Limited Partnership (final close February 2026) — each targeting startups at different stages that contribute to decarbonization and sustainable society. EEI does not offer a single unified product or platform; rather, its offering is the management of capital and portfolio company support across its three distinct fund vehicles, investing across three thematic pillars: Energy Transition, Mobility & Transportation, and Smart Society.

Differentiator

Problem solved

Functional benefit

Brands

• EEI Fund 5 Innovation and Impact Investment: Venture fund focused on startups driving technological and business innovations to address global-scale issues such as decarbonization.
• EEI Fund 4 Innovation and Impact Investment
• EEI Booster1 Investment Limited Partnership

Products and services

• EEI Fund 5 Innovation and Impact Investment A JPY 30 billion venture capital fund that invests in startups with innovative business models and technologies contributing to decarbonization and environmental/social issue resolution, focused on Energy Transition, Mobility & Transportation, and Smart Society sectors. Limited Partners include Dai-Ichi Life Insurance, Mizuho Securities, SBI Holdings, Mizuho Bank, Sumitomo Mitsui Trust Bank, Tokio Marine & Nichido, Kyushu Electric Power, Toshiba, Kansai Electric Power group, JIC, and SME SUPPORT JAPAN.
• EEI Fund 4 Innovation and Impact Investment A JPY 15.20 billion venture capital fund with duration 2018-2028 that invests in startups engaged in energy industry structural transformation, smart home/industry/mobility/city solutions, and effective utilization of resources for a sustainable society. Limited Partners include Shell Ventures, ENEOS Holdings, PTT, Toshiba, and Mizuho Securities.
• EEI Booster1 Investment Limited Partnership An investment limited partnership that achieved its first close on July 5, 2024 and final close on February 18, 2026, welcoming five new investors. The fund focuses on early-stage and growth-stage investments in the environment and energy sectors.

Quantifiable outcome

• Multiple successful IPO exits including RENOVA (2017), Kasumigaseki Capital (2018), W-Scope (2011), CRE (2015), JMC (2016), Jimoty (2020), coconala (2021), Casy (2022), Synspective (2024), Astroscale (2024), Rezil (2024)
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• GSG (Global Impact Investment Steering Group) Japan National Advisory BoardcoreStrategic or Co-development Partner · 29 November 2021EEI registered as a supporting member of the GSG Japan National Advisory Board and signed the 'Japan Impact-driven Financing Initiative'. This positions EEI as a leader in impact investing in Japan.
• Impact Capital ManagerscoreStrategic or Co-development Partner · 1 January 2020EEI became the first company in Japan to join Impact Capital Managers, a global network of impact investment VCs. This membership provides access to global best practices and networking with other impact-focused venture capital firms worldwide.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Breakthrough Energy Ventures: Bill Gates-backed climate-focused VC fund investing globally in transformative clean energy technologies. A larger global peer with overlapping thematic focus, providing a benchmark for international best practices and deal flow that EEI's portfolio companies may eventually tap.
• Global Brain: Japan-headquartered VC with multi-stage funds and strong corporate LP relationships across multiple sectors including energy and sustainability. Comparable as a larger incumbent Japan VC with similar institutional LP base and exit strategy orientation toward Japanese IPOs.
• JAFCO Group: Japan's largest venture capital firm with broad sector exposure including cleantech. As an incumbent generalist with deep institutional LP relationships, JAFCO is a relevant benchmark for EEI's deal flow and exit channels, though not specialist in energy/environment.
• Nissay Capital: Nippon Life Insurance-affiliated VC investing across Japanese startups, including environment and energy themes. Comparable as a life-insurer-backed Japan VC with similar LP economics and exit path through Japanese IPO markets.

Regional players

• 2030 Inc. (formerly DG Incubation): Digital Garage-affiliated Japanese VC and startup studio with cleantech and sustainability exposure. Comparable as a Japanese VC with strong corporate backing and adjacent themes to EEI's energy/smart society focus.

Direct peers

• Real Tech Holdings: Japan-based impact venture capital firm investing in deep tech and clean technology startups. Operates multiple funds with corporate LP backing, directly comparable to EEI as a Japan-focused specialist VC in sustainability/energy.
• DBJ Capital: Development Bank of Japan-affiliated venture and growth capital arm focused on innovative Japanese startups, including substantial cleantech and energy exposure. Comparable institutional backing model and Japan-centric impact-oriented mandate.
• Spiral Ventures: Pan-Asia VC firm (Japan and Southeast Asia) focused on early-stage tech with cleantech/energy exposure. Directly comparable as a region-focused early-stage VC with similar fund sizes and co-investor profile.
• Coral Capital: Japan-focused early-stage VC investing in Japanese startups with cross-border reach. Comparable as a Japan-domiciled VC with similar investor profiles and a growing portfolio in climate/sustainability themes.
• Energy Impact Partners: Global VC/PE firm investing in decarbonization and energy transition, with a coalition of utility and corporate LPs (similar structure to EEI's corporate LP base). Comparable as a specialist energy/climate VC with utility strategic backing and global portfolio reach.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/環境エネルギー投資-109016082454839
• LinkedInlinkedin.com/company/energy-environment-investment

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments128 records

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

Frequently asked questions about Energy & Environment Investment