JIC
About LP investment in AN Venture Partners I, LP
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・Creation of global startups originating from Japan
・Promoting open innovation in the life science field
・Strengthening the startup ecosystem in the life sciences field Industrial Innovation Investment Corporation (Headquarters: Minato-ku, Tokyo, President and CEO: Keisuke Yokoo, hereinafter “JIC”) is operated by ANV Management, LLC (hereinafter “ANV”), which invests mainly in the life science field. We hereby announce that we have entered into an LP investment agreement with AN Venture Partners I, LP (hereinafter referred to as “ANV 1”), committing to invest US$30 million at the initial closing.
JIC’s mission is to create a virtuous cycle of risk money that supports Japan’s next-generation industries by promoting private investment and developing human resources for investment by providing funds for corporate growth and strengthening competitiveness through open innovation.
In order to achieve its mission, JIC invests in business areas that have policy significance through LP investments in private funds and investments in companies through affiliated funds.
About LP investment in ANV 1
(1) JIC investment standards
JIC’s investment standards* list “promotion of new business creation towards Society 5.0” as a priority investment area. Specifically, in addition to the social implementation of technologies related to the Fourth Industrial Revolution such as AI, IoT, and robots, we will also focus on business fields that can be internationally competitive, such as biotechnology, drug discovery, healthcare, mobility, space, materials, and electronic devices. A long-term, large-scale supply of risk money is needed.
*https://www.j-ic.co.jp/jp/investment/criteria/
(2) Current status of the investment field
In order to create discontinuous innovations aimed at realizing Society 5.0, it is extremely important to support startups working in life science fields such as biotechnology and drug discovery, which require a long period of time and a considerable amount of capital from the research and development stage to market launch. It becomes. In these areas, although there is promising basic research and technology in Japan, there is not enough private investment funds for startups that can commercialize such research results and technology, and the ecosystem that supports startups is not in Europe or the United States. It faces the issue of being relatively immature. In addition, in order to realize Society 5.0, there is a need to create new businesses that contribute to solving social issues, and we will encourage domestic business companies to break away from
self-sufficiency in R&D and business development, and strengthen industries and organizations. We are looking forward to open innovation that goes beyond this.
(3) About ANV 1
ANV, which operates ANV1, was established in 2022 by former Japanese and American VCs with extensive experience in the life science field to create global startups in the life science field. ANV1 is ANV’s first fund, and its policy is to invest at all stages in biotech and biotech-related fields, with a focus on pre-foundation and early-stage startups.
ANV establishes global startups based on promising research from domestic universities, research institutes, business companies, etc. through joint investment with the world’s top VCs and hiring top global executives, and develops business in Japan. Our policy is to proceed with initiatives aimed at product development, etc. through collaboration with Japanese companies.
In addition, under an alliance with ARCH Venture Partners, an American company with over 30 years of investment experience in the life science field, ANV will leverage the US biotech ecosystem and abundant capital market to create an efficient society for Japanese science and technology seeds. While proceeding with implementation, we aim to be listed on domestic and international stock markets and M&A by global companies in Japan and overseas.
JIC hopes that through its LP investment in ANV 1, it will lead to the creation of global startups originating from Japan in the life sciences field and the strengthening of the domestic startup ecosystem in the life sciences field. In addition, we will introduce the knowledge, know-how, and practices of startup support in the U.S. life science ecosystem into the domestic market, and collaborate with domestic universities, research institutes, business companies, etc. and investee startups to develop Japanese life science We hope that this will lead to the promotion of open innovation in the field. In addition, JIC will support ANV’s sustainable growth as a VC through support such as system development.
-ANV 1-
Name: AN Venture Partners I, LP
Established: 2023
Survival period: 10 years (up to 2 years can be extended) GP: ANV GP I, LP -Overview of the management company-
Name: ANV Management, LLC
Established: 2022
Location: Tokyo, USA (San Francisco, Seattle)
Representative: Ken Horne
(Reference) JIC’s fund investment strategy
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