Decision Made to Make LP Investment in 'HIC Fund I Investment Limited Partnership'

The Academic Startup Acceleration (ASA) Fund, managed by UTokyo Innovation Platform Co., Ltd. (Headquarters: Bunkyo-ku, Tokyo; President and CEO: Kosuke Ueda; hereinafter "UTokyo IPC"), has decided to make an investment in the "HIC Fund I Investment Limited Partnership" (hereinafter "HIC Fund I"), which was formed by Hiroshima Incubation & Capital Co., Ltd. (hereinafter "HIC").

Towards Strengthening the Regional Startup Creation Foundation Centered on Hiroshima University

HIC Fund I is a fund operated by HIC, a university-originated venture capital firm established for the purpose of investing in startups based on research results from universities within Hiroshima Prefecture. It is characterized by a structure in which diverse investors, primarily regional financial institutions and operating companies, participate to jointly promote capital provision and business support.

Furthermore, HIC is capable of investing in startups established through the "GAP Fund Support Program" in coordination with the "Peace & Science Innovation Ecosystem (PSI)," for which Hiroshima University serves as the lead institution. By investing in startup companies that utilize the excellent research achievements of universities within Hiroshima Prefecture, it aims to contribute not only to solving regional and social issues but also to strengthening Japan's industrial competitiveness.

UTokyo IPC decided on this investment after evaluating HIC's construction of an investment and support system where regional financial institutions, universities, and public institutions unite to consistently support and circulate everything from the creation of research seeds to commercialization and capital supply within the region.

Comment from Kikunori Takigami, Representative Director, Hiroshima Incubation & Capital Co., Ltd.

HIC is a university-originated venture capital firm established with the mission of building a "regional startup ecosystem" in the Chugoku and Shikoku regions. Our vision is to realize the circulation of human resources, goods, capital, and information within the ecosystem by promoting the commercialization of startups within the region.
We have now formed the HIC Fund I Investment Limited Partnership through LP investments from financial institutions, VCs, and operating companies. By executing investments in university-originated startups within Hiroshima Prefecture, we hope to realize the creation of new industries and employment from the regional economy.

ASA Fund Aims to Become a Base for Creating University-Originated Startups in Japan and Expand the Ecosystem

The ASA Fund aims to address issues in Japan's university-originated startup ecosystem, further strengthen collaboration among industry, academia, government, and overseas entities, elevate Japan's university-originated startup ecosystem to a world-class level, and contribute to strengthening Japan's industrial competitiveness in the world through the cultivation of unicorn startups that can compete globally. In its concrete operations, it invests (fund-of-funds) primarily in university VC funds that invest in and support university-originated startups, in order to unearth abundant technology seeds centered on universities, support commercialization, and cultivate and assist startups capable of global expansion.

About Hiroshima Incubation & Capital Co., Ltd.

Overview: Venture investment activities in startups originating from universities and research institutions, and fund management operations

Established: November 29, 2024

Location: 1-2-3 Kasumi, Minami-ku, Hiroshima City, Hiroshima Prefecture

Representative: Kikunori Takigami, Representative Director

URL: https://hicapital.jp/

About UTokyo Innovation Platform Co., Ltd. (UTokyo IPC)

UTokyo IPC is active in contributing to the strengthening of Japan's industrial competitiveness in the global arena through the creation of startups and the construction of ecosystems that stand shoulder-to-shoulder with the world, in cooperation with a wide range of stakeholders including universities, companies, venture capital firms, and national and local governments.

Established in 2016 as a 100% subsidiary of The University of Tokyo to further develop the venture ecosystem cultivated around the university. As a public-private fund, alongside investing in over 80 university-related startups and private VC funds in Japan and overseas through two funds, it handles hands-on support such as the "Startup Creation Program" that supports the commercialization of researchers' technology seeds, the operation of "1stRound," one of Japan's largest entrepreneurship support programs co-hosted by academic institutions, and talent support including "DeepTech Dive." It has built a platform that aggregates all resources necessary for the support and cultivation of deep-tech startups, deploying continuous activity support from founding through incubation and acceleration, to the supply of growth capital through VC fund management.

In 2024, following a public offering and selection by the Tokyo Metropolitan Government, it established the Academic Startup Acceleration (ASA) Fund. Under collaboration with domestic and overseas entities, it aims to form a base for the creation of new deep-tech startups.

Overview: Investment company aiming for the development of an academia-related startup ecosystem

Established: January 2016

Shareholder: The University of Tokyo (100%)

Location: 261 Entrepreneur Lab, South Research Building, The University of Tokyo, 7-3-1 Hongo, Bunkyo-ku, Tokyo

Representative: Kosuke Ueda, President and CEO

URL: https://www.utokyo-ipc.co.jp/

[Contact Information]

UTokyo Innovation Platform Co., Ltd.

261 Entrepreneur Lab, South Research Building, The University of Tokyo, 7-3-1 Hongo, Bunkyo-ku, Tokyo

TEL: 03-3830-0200 / FAX: 03-3830-0183

Email: info2@utokyo-ipc.co.jp

Contact: Masafumi Kawai