TLDR:
- Hiroshima Bank and Hiroshima Venture Capital team up to launch a $14.1 million fund.
- The Hirogin Innovation Fund will focus on supporting startups that help revitalize regional economies through financial and related technologies.
Japanese financial services firm Hiroshima Bank has announced a partnership with venture capital firm Hiroshima Venture Capital to launch a new fund aimed at supporting startups focused on revitalizing regional economies. The ¥2 billion ($14.1 million) Hirogin Innovation Fund will specifically target companies developing financial and related technologies that can contribute to the growth of local economies. Hiroshima Bank will serve as a limited partner, while Hiroshima Venture Capital will act as the general partner for the fund, which is expected to operate until June 2034.
This initiative builds on Hiroshima Bank’s existing investment activities, as the bank already runs Hirogin Capital Partners, an arm that invests in startups working on business succession and regional revitalization technologies. Hiroshima Venture Capital, which was established in 1995 and has Hiroshima Bank as one of its shareholders, manages a portfolio of 25 venture capital funds. Notably, the firm recently launched the Hiroshima University / Hiroshima Prefectural University Venture Support Investment in collaboration with the national research university in 2020.
The launch of the Hirogin Innovation Fund highlights the continued interest and commitment of both Hiroshima Bank and Hiroshima Venture Capital in supporting startups that can make a positive impact on regional economies. By providing funding and resources to innovative companies in the financial and related technology sectors, this new fund has the potential to drive growth and development in local economies in Japan and beyond.
