GLIN Impact Capital Completes First Close of Its 2nd Impact Growth Fund
GLIN Impact Capital announced the first close of its 2nd Impact Growth Fund, targeting 20 billion JPY, to support growth-stage startups solving complex social issues with a system-change approach.
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- 📰 Published: April 23, 2026 at 02:00
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GLIN Impact Capital (hereinafter GLIN), which has pursued both the creation of social impact and economic returns through investment activities as a pioneer of impact investing in Japan, announces that on March 31, 2026, it held the first close of its 2nd Impact Growth Fund (hereinafter GLIN Fund II). In addition to existing investors from Fund I, including SBI Group, Japan Post Insurance, and Sumitomo Mitsui Trust Bank, we have received decisions from new investors including Japan Investment Corporation (JIC), Sophia School Corporation, and MUFG Bank (in alphabetical order) to participate in Fund II. We will continue fundraising towards our target fund size of 20 billion yen and build a structure to support the significant leap of impact startups.
■ Background
In recent years, social issues such as climate change, healthcare, and demographic shifts have become increasingly large and complex. Startups tackling these issues head-on require larger-scale growth capital and practical support to sustain their business growth. Furthermore, against the backdrop of revised listing maintenance standards and changes in the post-listing funding environment, the importance of strengthening the business foundation from the pre-IPO stage to realize sustainable growth is higher than ever.
Given this background, GLIN Fund II will further strengthen its role as an impact-growth investor. In addition to providing capital at the growth stage, we aim to accelerate the business growth of our portfolio companies through diverse post-investment support, jointly striving for the maximization of corporate value and social impact.
■ GLIN's Track Record
Since establishing Fund I in 2021, we have invested in 12 companies, primarily growth-stage startups in Japan and overseas. We have provided capital to companies whose business models directly lead to the resolution of social issues in structural social issue areas: (1) Climate Change & Environment, (2) Healthcare & Well-being, and (3) Social Inclusion (including education and regional revitalization).
Beyond just providing funds, we have provided practical hands-on support to our portfolio companies, focusing on support from an impact perspective, business scaling support, and global expansion support.
■ GLIN Fund II Investment Policy
GLIN Fund II will continue to invest with a primary focus on 'Impact Investing' x 'Growth Equity Investing'.
1. Deepening Impact Investing: Expanding Impact Creation via a System Change Approach
Following Fund I, we will invest in three key social issue areas (Climate Change & Environment, Healthcare & Well-being, Social Inclusion).
In particular, by utilizing the system change investment approach, we structurally grasp the root causes of complexly intertwined social issues in these three areas, identify the places where resources should be concentrated for problem-solving (leverage points), and extract technologies that solve these leverage points on a large scale, thereby specifying concrete investment areas.
For details on the investment areas of Fund II and the system change investment strategy, please click here.
2. Providing Necessary Capital and Support for Growth-Stage Companies
Continuing from Fund I, our main investment targets are growth-stage (middle to later) startups. We provide funds of 200 million to 1 billion yen as an initial investment to companies that have already begun to achieve PMF in their main target markets, and up to approximately 2.5 billion yen per company including follow-on investments.
After investing, we will support business scaling through hands-on menus specialized for growth companies that simultaneously achieve business growth, corporate value enhancement, and impact creation, contributing to the development of startups into companies that can grow even further after going public.
For the concept of hands-on support, please see the three introductory articles: (1) Growth Company Support, (2) Corporate Value Maximization Support Leveraging Impact, and (3) Sales and Partnership Building Support for Large Corporations.
■ About GLIN
With the mission of 'Realizing a society where social issues are autonomously resolved alongside economic growth,' GLIN has deployed two businesses since its founding in 2020: the impact investment business and the sustainable management/impact consulting business, supporting the transition of corporations and financial institutions, the main actors of economic activities. Additionally, we have actively engaged in the development of the impact finance ecosystem in collaboration with government agencies and private organizations.
Through these activities, we aim to strengthen the foundation of impact finance and realize a society where sustainable economic growth and the resolution of social issues are compatible.
[Company Profile]
Co-Representatives: Masato Nakamura, Masahiro Hata
Established: 2020
Location: 4-3-1 Toranomon, Minato-ku, Tokyo
WEB: https://gl
■ Background
In recent years, social issues such as climate change, healthcare, and demographic shifts have become increasingly large and complex. Startups tackling these issues head-on require larger-scale growth capital and practical support to sustain their business growth. Furthermore, against the backdrop of revised listing maintenance standards and changes in the post-listing funding environment, the importance of strengthening the business foundation from the pre-IPO stage to realize sustainable growth is higher than ever.
Given this background, GLIN Fund II will further strengthen its role as an impact-growth investor. In addition to providing capital at the growth stage, we aim to accelerate the business growth of our portfolio companies through diverse post-investment support, jointly striving for the maximization of corporate value and social impact.
■ GLIN's Track Record
Since establishing Fund I in 2021, we have invested in 12 companies, primarily growth-stage startups in Japan and overseas. We have provided capital to companies whose business models directly lead to the resolution of social issues in structural social issue areas: (1) Climate Change & Environment, (2) Healthcare & Well-being, and (3) Social Inclusion (including education and regional revitalization).
Beyond just providing funds, we have provided practical hands-on support to our portfolio companies, focusing on support from an impact perspective, business scaling support, and global expansion support.
■ GLIN Fund II Investment Policy
GLIN Fund II will continue to invest with a primary focus on 'Impact Investing' x 'Growth Equity Investing'.
1. Deepening Impact Investing: Expanding Impact Creation via a System Change Approach
Following Fund I, we will invest in three key social issue areas (Climate Change & Environment, Healthcare & Well-being, Social Inclusion).
In particular, by utilizing the system change investment approach, we structurally grasp the root causes of complexly intertwined social issues in these three areas, identify the places where resources should be concentrated for problem-solving (leverage points), and extract technologies that solve these leverage points on a large scale, thereby specifying concrete investment areas.
For details on the investment areas of Fund II and the system change investment strategy, please click here.
2. Providing Necessary Capital and Support for Growth-Stage Companies
Continuing from Fund I, our main investment targets are growth-stage (middle to later) startups. We provide funds of 200 million to 1 billion yen as an initial investment to companies that have already begun to achieve PMF in their main target markets, and up to approximately 2.5 billion yen per company including follow-on investments.
After investing, we will support business scaling through hands-on menus specialized for growth companies that simultaneously achieve business growth, corporate value enhancement, and impact creation, contributing to the development of startups into companies that can grow even further after going public.
For the concept of hands-on support, please see the three introductory articles: (1) Growth Company Support, (2) Corporate Value Maximization Support Leveraging Impact, and (3) Sales and Partnership Building Support for Large Corporations.
■ About GLIN
With the mission of 'Realizing a society where social issues are autonomously resolved alongside economic growth,' GLIN has deployed two businesses since its founding in 2020: the impact investment business and the sustainable management/impact consulting business, supporting the transition of corporations and financial institutions, the main actors of economic activities. Additionally, we have actively engaged in the development of the impact finance ecosystem in collaboration with government agencies and private organizations.
Through these activities, we aim to strengthen the foundation of impact finance and realize a society where sustainable economic growth and the resolution of social issues are compatible.
[Company Profile]
Co-Representatives: Masato Nakamura, Masahiro Hata
Established: 2020
Location: 4-3-1 Toranomon, Minato-ku, Tokyo
WEB: https://gl