DCI Partners

What DCI Partners does

DCI Partners Co., Ltd. is a Tokyo-headquartered venture capital firm and a wholly-owned subsidiary of Daiwa Corporate Investment Co., Ltd., which in turn sits within the Daiwa Securities Group. Established in May 2014, the firm operates as a sector-focused biotech investment platform, managing two dedicated Japan-Taiwan cross-border funds: Daiwa Taiwan-Japan Biotech Fund Investment Limited Partnership (Fund I, 11.6 billion JPY, established February 2015) and Daiwa Taiwan-Japan BioVenture Investment Limited Partnership II (Fund II, 15.3 billion JPY, established December 2020), with 26.9 billion JPY in cumulative committed capital and a Taipei representative office supporting its cross-border mandate.

The firm invests in unlisted drug discovery and regenerative medicine startups, with a differentiated fund-led venture creation model in which it forms companies around promising drug candidates sourced from universities and research institutions before they are organized as standalone enterprises, evidenced by creations including J-mab Therapeutics (2017), Open Innovation Partners (2018), Anexa PEP (2019), and Surv BioPharma (2022). Portfolio companies span antibody therapeutics, peptides, oncolytic viruses, and stem cell-based regenerative medicine, with publicly disclosed listings on Tokyo Stock Exchange Growth, Tokyo Stock Exchange Mothers, Taiwan Stock Exchange, and Taipei Exchange.

DCI Partners generates revenue through standard venture capital fund economics: annual management fees of up to 3% on committed capital under its two funds, and carried interest of up to 20% on capital gains from portfolio exits, with additional investment fees of up to 8% on add-on LP contributions. The firm is registered as a Financial Instruments Business Operator (Kanto Local Finance Bureau registration No. 2845) for investment management and second-type financial instruments business, and is a member of the Japan Investment Trusts Association and the Japan Second-Type Financial Instruments Firms Association. Limited partners access fund reporting through a dedicated LP login portal, and the firm maintains a CEO (Hiroki Narita), Senior Managing Director (Shuntaro Kodama), and Managing Director (Junichi Yokota) leadership, supported by investment managers and a Taipei-based representative office head (Satoshi Motomura).

Name

DCI Partners

Legal name

DCI Partners Co., Ltd.

Website

https://daiwa-inv.co.jp

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

DCI Partners is a Tokyo-based, sector-focused venture capital firm and wholly-owned subsidiary of Daiwa Corporate Investment, managing 26.9 billion JPY across two biotech funds that invest in drug discovery and regenerative medicine startups in Japan and Taiwan.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: Management fees charged on committed capital of investment funds, typically up to 3% annually
2. Carried Interest/Success Fees: Performance-based fees from investment returns, typically up to 20% of capital gains
3. Investment Returns: Returns from successful portfolio company exits through IPOs and M&A transactions

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

DCI Partners (DCI Partners Co., Ltd.) is a venture capital firm that manages sector-focused biotech investment funds targeting drug discovery and regenerative medicine startups in Japan and Taiwan. It provides risk capital and hands-on operational support, including clinical development guidance, IP management, regulatory strategy, and business development, and also creates new ventures around promising drug candidates through a fund-led startup creation model. The firm manages two main cross-border funds with combined committed capital of 26.9 billion JPY.

Product overview

DCI Partners is a biotech-focused venture capital firm that operates two main investment funds with combined accumulated capital of 26.9 billion JPY. The firm specializes in investing in unlisted biotech and drug discovery startups in Japan and Taiwan, providing risk capital to growth-stage companies in capital-intensive fields like drug discovery and regenerative medicine. Beyond traditional venture capital investment, the firm also creates fund-led startups around promising drug candidates that lack resources for independent enterprise development.

Differentiator

Problem solved

Functional benefit

Brands

• Daiwa Taiwan-Japan BioVenture Investment Limited Partnership II: Second fund focused on regenerative medicine and innovative drug candidates in Japan and Taiwan with 15.3 billion JPY fund size.
• Daiwa Taiwan-Japan Biotech Fund Investment Limited Partnership

Products and services

• Daiwa Taiwan-Japan Biotech Fund Investment Limited Partnership (Fund I) Cross-border Japan-Taiwan biotech venture capital fund with 11.6 billion JPY in size, investing in drug discovery startups and pharmaceutical candidates in Japan and Taiwan. Targets institutional LPs and serves biotech startups developing novel drug candidates.
• Daiwa Taiwan-Japan BioVenture Investment Limited Partnership II (Fund II) Second Japan-Taiwan cross-border biotech venture capital fund with 15.3 billion JPY in size, focusing on regenerative medicine and innovative drug candidates in Japan and Taiwan. Targets institutional LPs and serves biotech startups in regenerative medicine and advanced drug discovery.
• DCI Venture Growth Support Fund No. 2 (DCIベンチャー成長支援2号投資事業有限責任組合) Follow-on growth support fund managed within DCI's vehicle set to support promising domestic Japanese startups with the potential to compete globally, providing later-stage capital and operating support.

Quantifiable outcome

• Multiple successful IPO exits including 10+ biotech companies listed on Tokyo Stock Exchange and Taiwan Stock Exchange
• +1 more outcomes

Named customers10 records

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 moves7 records

Expansion highlights5 records

Regional players

• ID Capital (Asia-Pacific Bio): Singapore-based VC firm focused on Asia-Pacific agrifoodtech and life sciences. Comparable as a regional Asia-based biotech VC firm, though operating from Singapore rather than Japan-Taiwan.

Broad incumbents

• JAFCO Group: Japan's largest venture capital firm with broad sector exposure including biotech. Comparable as a fellow Japanese VC firm with significant AUM and IPO track record, though DCI is more sector-focused on biotech and drug discovery.
• SBI Investment: Major Japanese VC firm with a dedicated life sciences/biotech investment group. Comparable for biotech venture investing in Japan and Asia, though operates as part of a much broader financial services group.

Direct peers

• UTEC (University of Tokyo Edge Capital Partners): Tokyo-based VC firm specializing in deeptech and life sciences originating from university research. Highly comparable to DCI's focus on drug discovery and science-based startups from academic institutions.
• Beyond Next Ventures: Japanese biotech and deeptech-focused VC firm with fund-led venture creation model from university-originated technologies. Direct comparable given shared focus on early-stage biotech startups and venture building approach.
• Catalys Pacific: Japan-based biotech-focused VC firm investing in drug discovery companies. Comparable as a sector-specialist VC focused on therapeutic innovation across the Japan and broader Asian markets.
• World Innovation Lab (WiL): Japan-US cross-border VC firm with significant healthcare and biotech investments. Comparable for cross-border Japan-focused venture investing with active portfolio company support model.

Emerging players

• Fast Track Initiative (FTI): Japanese VC firm with biotech investments including venture creation of startups around academic assets. Comparable for its hands-on biotech investment approach, though broader in sector scope.

Others

• Medipal Holdings: Japanese pharmaceutical wholesaler with CVC activities in biotech. Comparable as a Japan-based corporate investor in life sciences, though operates primarily as a wholesaler rather than a dedicated VC firm.
• Tanaka Kikinzoku Kogyo K.K. Japanese precious metals company with active CVC activities in biotech and life sciences. Comparable as a Japanese corporate investor in the biotech startup ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments19 records

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

Frequently asked questions about DCI Partners