Japan’s Anri venture holds $102m Fund V first close

Japanese venture capital firm Anri has held a $102m first close for its fifth flagship fund, almost halfway to its $288m target.

The majority of the fund’s investors are from Japan including Japan Investment Corporation, Mizuho Bank and GREE.

Anri said Fund V was launched against the backdrop of an “ever-weakening” economy, however, it has the aim to back early-stage startups regardless of business sentiment.

It will also allocate 20% or more of the investments to female-led businesses.

The fundraise has boosted the firm’s assets under management to $388m. The firm targets investments in the consumer, enterprise, frontier and healthcare industries, portfolio companies include Schoo, Coincheck, Kanmu, U-note, Jiksak Bioengineering, Inner Resource and Genics.

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