Japan’s Global Brain, Mitsui Fudosan set up CVC II fund with $81m corpus

Light is cast on a Japanese 10,000 yen note placed on top of U.S. One-hundred dollar bills at Interbank Inc. money exchange in Tokyo, in this September 9, 2010 picture illustration. REUTERS/Yuriko Nakao

Japanese venture capital firm Global Brain and Mitsui Fudosan have jointly established 31VENTURES Global Innovation Fund II (CVC II) with a corpus of JPY 8.5 billion ($81 million), according to an announcement.

CVC II will focus on startups that strengthen real estate as a service, focus on digital transformation and smart city. The fund will target startups that create new businesses that are different from their existing business areas.

Its predecessor fund CVC I was established in 2015, with a total amount JPY5 billion ($48 million). The fund aims to strengthen Mitsui Fudosan’s core business and expand its business domain by investing in approximately 40 domestic and overseas startups from early to late stages.

Global Brain is an early-stage venture capital firm that has investments in the US and Asia.

In August, the Japanese venture capital firm through its CVC I, invested an undisclosed sum in Photosynth Inc., a startup developing Akerun smart lock and online management system.

Earlier, Global Brain had led an investment in Connected Robotics, a cooking robot service provider, through its GB-VII Growth Fund Investment Limited Partnership (GB-VII) and CVC I.

Mitsui Fudosan is engaged in the real estate business. It operates through the following segments: leasing, property sales, management. The company was founded by Takatoshi Mitsui in 1673 and is headquartered in Tokyo, Japan.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.