Japan's UTEC secures first close of fifth global deep tech fund at $275m

The University of Tokyo Edge Capital Partners (UTEC) has hit the first close of its fifth global deep tech fund, at $275 million (30 billion yen), and it is slated to invest more heavily in Southeast Asia, the firm’s executives told DealStreetAsia in an interview.

UTEC declined to disclose the target corpus of the fund and its fundraising timeline. Its fourth fund, formed in 2018, had a size of $220 million (24.3 billion yen) and has deployed into 36 investments to date.

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