Pegasus Tech Ventures and Japanet launch new $50M fund to bring global startups to Nagasaki
Pegasus Tech Ventures, a firm that helps corporations launch startup investment funds, announced a new partnership with Japanet today. Japanet, one of Japan's largest television shopping companies, and Pegasus have established a $50 million venture fund to invest in startups from around the world, including for a major new development in Nagasaki.
Japanet is looking for startups to support its expansion into new sectors. These include a building project called Stadium City in Nagasaki that will open in 2024. It will center around a sports stadium, and include mixed-use facilities like offices, retail stores, hotels and event venues. Japanet also plans to focus on new services for elderly people, and children's education.
Anis Uzzaman, general partner and chief executive officer of Pegasus Tech Ventures, told TechCrunch that Stadium City was created to help revitalize Nagasaki's economy and bring new products and services, including tech, from around the world to the city. Japanet's plan is to both co-develop solutions with earlier-stage startups over time, as well as help later-stage startups localize and deploy in the Stadium City," said Uzzaman.
Pegasus Tech Ventures' team will help Japanet scout startups from around the world, including North America, Israel, Europe and Asia. The firm currently has $1.5 billion assets under management and other corporations it has worked with through its venture capital-as-a-service" program include Asus, Sega Sammy Holdings, Sunny Health, Infocom Corporation and Aisin Seiki. Pegasus Tech Ventures' portfolio includes startups like SpaceX, 23andMe, SoFi, Bird, Color and App Annie.
The Japanet fund's typical check size for early-stage startups will range from $100,000 to $1 million USD. Later-stage startups will receive investments between $1 million to $5 million. Startups will work closely with Japanet and its corporate partners, including Mitsubishi Jisho Sekkei, JLL Mall Management, and MSC Cruises Japan.
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