Hiroshima Venture Capital

What Hiroshima Venture Capital does

Hiroshima Venture Capital Co., Ltd. (株式会社広島ベンチャーキャピタル) is a private Japanese regional venture capital firm headquartered in Hiroshima, founded in August 1995 originally as Hirogin Capital Co., Ltd. and rebranded to its current name in March 2007. The firm is affiliated with Hirogin Holdings, the holding company of Hiroshima Bank, and operates as the primary venture capital arm of the Hiroshima Bank group in the Chugoku region. HVC manages 27 investment funds with a cumulative total of ¥38.3 billion (383億円) in assets and has supported 84 investee companies across its 30-year history, with 34 portfolio companies having achieved IPO — the principal success metric disclosed on its website.

The firm's business consists of three core service lines: (1) venture and private equity investment in SMEs and startups targeting stock listing, with active hands-on support including sales introductions and management advice; (2) operation of multiple specialized fund vehicles including the Hirogin Innovation Investment Partnership (¥2B, July 2024), the Hiroshima Mirai Souzou Investment Partnership (¥1.5B, January 2025), the Hiroshima University / Hiroshima Prefecture University Venture Support Fund (¥500M, 2020), and an agriculture-forestry-fisheries 6th industrialization fund (2014); and (3) Hiromalab, a co-working space inside Hiroshima Hi-Building 21 where investment staff are stationed on-site to support portfolio companies and source new deals. The firm has no proprietary technology products — it is a capital-and-services business rather than a software company.

HVC generates revenue through three streams: annual management fees on assets under management across its fund vehicles (recurring), carried interest earned on successful exits through IPO or M&A (transaction-based), and realized and unrealized capital gains from equity stakes in portfolio companies. Deal sourcing is conducted through a sales-led motion centered on the Hiroshima Bank referral network, university research partnerships (notably Hiroshima University and Kyoto University Innovation Capital), and ecosystem events including Hiroshima Tech Planter, TSUNAGU Hiroshima, and Hiroshima Pitch. The firm's customer segments are early-to-mid-stage startups seeking growth capital, regional SMEs in the Chugoku region, university spin-offs, and social impact companies addressing regional challenges in agriculture, welfare, and sustainability. The current representative director is Nishioka Ken, appointed May 2024.

Name

Hiroshima Venture Capital

Legal name

株式会社広島ベンチャーキャピタル

Website

http://www.h-vc.co.jp/

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Hiroshima Venture Capital is a regional Japanese venture capital firm founded in 1995 and affiliated with Hiroshima Bank group. It manages 27 funds with cumulative ¥38.3 billion in assets, has invested in 84 companies, and achieved 34 IPOs. It serves Hiroshima-region startups, SMEs, and university spin-offs targeting growth and listing.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact / ESG Venture Capital (FSANAAAG)

Keywords

• Venture capital investment
• Private equity funding
• Startup fund management
• Regional venture financing
• IPO growth capital

Headquarters

HQ city

Hiroshima

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Management Fees: Annual management fees charged on assets under management across all fund vehicles.
2. Carried Interest: Performance-based carried interest earned on successful investment exits through IPO or M&A.
3. Capital Gains: Realized and unrealized gains from equity investments in portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

Hiroshima Venture Capital is a regional venture capital firm that provides equity investment to small-to-medium enterprises and venture companies targeting stock listing. It manages 27 investment funds totaling 383 billion yen in cumulative assets, supports portfolio companies through business advice and sales introductions, and operates Hiromalab, a coworking space in Hiroshima for startup community building. The firm has achieved 34 IPOs among its 84 investee companies since 1995.

Product overview

Hiroshima Venture Capital operates as a regional venture capital firm offering three core services: venture investment targeting companies seeking IPO, fund management for multiple investment vehicles totaling 383 billion yen in cumulative fund size, and Hiromalab, a coworking space that serves as a hub for startup support with investment staff stationed on-site. The firm has achieved 34 IPOs among its 84 investee companies.

Differentiator

Problem solved

Functional benefit

Brands

• Hiromalab: Co-working space operated by Hiroshima Venture Capital, located in Hiroshima High-rise Building 21, designed as a place to create encounters that will drive Hiroshima over the next 10 years.

Products and services

• Venture Investment Services Equity investment in SMEs and venture companies targeting IPO, with capital injection via share subscription and operational support including business advice and customer introductions to enable growth.
• Fund Management Services Operation of multiple investment fund vehicles targeting startups and regional companies, including Hiroshima Future Creation Investment Fund (15 billion yen), Hiroshima University Venture Support Fund (5 billion yen), and Hirogin Innovation Investment Fund (20 billion yen).
• Hiromalab Coworking Space Co-working space in Hiroshima city designed as a hub for startup encounters, with investment staff stationed on-site to support entrepreneurs and foster connections among portfolio companies and the regional startup ecosystem.

Quantifiable outcome

• 34 portfolio companies achieved IPO
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered minor and core.

• Hiroshima CityminorStrategic or Co-development Partner · 17 April 2026Host city for TSUNAGU Hiroshima 2026 event (venue: Hiroshima Green Arena).
• Fukuyama CityminorStrategic or Co-development Partner · 17 April 2026Host city for TSUNAGU Hiroshima 2026 event (venue: iti SETOUCHI in Fukuyama).
• DoTS (株式会社DoTS)minorStrategic or Co-development Partner · 24 June 2024Joint venture with Hiroshima Home Television and MinasaKa for Setouchi region promotion and regional revitalization.
• Chugoku Shimbun (株式会社中国新聞社)coreGTM or Marketing Partner · 16 December 2022Regional newspaper media partner for TSUNAGU Hiroshima open innovation conference and other ecosystem events. Provides marketing and PR support for startup ecosystem development.
• ATOMica (株式会社ATOMica)minorImplementation/ SI/ Consulting Partner · 4 November 2022Portfolio company operating social coworking spaces. Designated operator of Hiromalab co-working facility.
• General Incorporated Association Hiroshima Acceleration Lab (、一般社団法人広島アクセラレーションラボ)coreStrategic or Co-development Partner · 8 August 2022Established by Hirogin Holdings and HVC to operate the Hiromalab co-working space. Joint initiative for startup ecosystem development in Hiroshima.
• Hiroshima University (広島大学)coreStrategic or Co-development Partner · 30 April 2020Formal cooperation agreement for university-venture fund operations. Hiroshima University provides fund certification and deal sourcing from research ecosystem. Jointly operates the Hiroshima University Venture Support Fund (5 billion yen).
• Kyoto University Innovation Capital (京都大学イノベーションキャピタル)minorStrategic or Co-development Partner · 30 April 2020Cooperation VC partner for the university venture support fund. Provides investment expertise and potential co-investment for Hiroshima University spin-offs.
• Leave a Nest (株式会社リバネス)coreStrategic or Co-development Partner · 30 April 2020Co-host of Hiroshima Tech Planter startup competition program. Provides technical expertise and national startup network to regional ecosystem development.

Scale indicators9 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Kyoto University Innovation Capital: University-affiliated Japanese venture capital firm focused on commercializing research from Kyoto University. It is a direct peer given its similar mission of university spin-off investment, and is already a partner of HVC in the Hiroshima University venture support fund.
• Global Brain: Japan-focused venture capital firm investing across seed to growth stages with strong corporate partnership network. It is a direct peer operating in the same VC category with similar growth-stage focus and sector breadth.
• UTEC (University of Tokyo Edge Capital Partners): University of Tokyo-affiliated VC specializing in deep tech and university spin-offs. It is a direct peer given its parallel mission of university technology commercialization and similar stage focus, though with deeper tech specialization.

Broad incumbents

• JAFCO Group: Japan's largest and oldest venture capital firm with broad sector exposure across all growth stages. It is a broad incumbent offering overlapping venture investment services but with much larger AUM and nationwide deal flow.
• SMBC Venture Capital: Bank-affiliated VC arm of Sumitomo Mitsui Banking Corporation, one of Japan's mega-banks. It is a broad incumbent offering comparable bank-affiliated VC services with significantly larger scale and broader geographic reach than HVC.
• DBJ Capital: Venture and growth capital arm of Development Bank of Japan, investing across Japan with focus on innovative growth companies. It is a broad incumbent offering overlapping VC services from a similarly institutional/government-affiliated base.
• MUFG Innovation Partners: CVC arm of Mitsubishi UFJ Financial Group, one of Japan's largest financial groups. It is a broad incumbent offering bank-affiliated venture investing at much greater scale than HVC, with overlapping regional Japanese startup exposure.
• Nissay Capital: Venture capital arm of Nippon Life Insurance, one of Japan's largest insurance groups. It is a broad incumbent offering similar institutional VC services across Japanese growth-stage companies with insurance-affiliated backing.

Regional players

• Yamaguchi Capital: Regional venture capital firm based in Yamaguchi Prefecture, neighboring Hiroshima. It is a regional peer with similar regional VC mission, bank-affiliated structure, and focus on local SMEs and university spin-offs in the Chugoku region.
• Hokkaido Venture Capital: Regional venture capital firm in Hokkaido focused on local startups and SMEs. It is a regional peer operating under a comparable model of regional bank-affiliated venture investing targeting local ecosystem development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/HiroshimaVC
• Facebookfacebook.com/hgcp001

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments61 records

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

Frequently asked questions about Hiroshima Venture Capital