Plug and Play Japan announced the final closing of its inaugural investment vehicle, Plug and Play Japan Fund I, surpassing its original fundraising target with more than ¥6 billion in commitments. The Tokyo-based fund is designed to support seed and early-stage startups in Japan while helping domestic companies expand globally through Plug and Play’s international network.
The fund will primarily invest in Japanese startups across sectors such as deeptech, AI, sustainability, SaaS, digital transformation, and fintech. Approximately 20% of the capital will also be allocated toward overseas startups with advanced technologies that intend to enter the Japanese market.
Plug and Play Japan said the fund combines investment capital with acceleration programs, corporate partnerships, and international expansion support. Portfolio companies will gain access to Plug and Play’s network spanning more than 60 locations globally, along with collaboration opportunities involving major corporations and institutional partners.
The final close added six new limited partners, including Samyang Chemical Group, JOYO BANK, Toyota Invention Partners, Nagase & Co., JAPAN POST BANK, and RYODEN Corporation. Existing investors included MUFG Bank, SME SUPPORT JAPAN, TOKYU LAND CORPORATION, and SAZABY LEAGUE.
The fund has already begun deploying capital into startups since its first close in March 2025. Plug and Play Japan noted that it has seen increasing demand from Japanese startups seeking overseas expansion opportunities, as well as from international startups aiming to enter Japan.
Plug and Play Japan emphasized that while Japan’s startup ecosystem continues to grow, building globally competitive companies remains a challenge. The firm said the new fund is intended to strengthen its support infrastructure by integrating venture investment, accelerator programming, and corporate co-creation initiatives.
Fund details include a target investment size ranging from tens of millions of yen up to ¥100 million per transaction. The vehicle has a 10-year operating period with an optional two-year extension.
Founded in Silicon Valley, Plug and Play operates one of the world’s largest innovation platforms and has supported more than 35 unicorn companies through its various investment programs over the past 25 years. Plug and Play Japan was established in 2017 and works with more than 40 corporate and institutional partners across multiple industries.
KEY QUOTES:
“Since launching Plug and Play Japan in 2017, we have seen Japan as an extremely important innovation ecosystem. Together with our Limited Partners, we want to help Japanese startups bring their ideas to the rest of the world. We believe that the next generation of great companies will come from strong local markets like Japan. With this fund, we intend to back these entrepreneurs and support them on a global scale with our vast network and resources.”
Saeed Amidi, Founder and CEO, Plug and Play
“I am pleased to announce the successful final close of our inaugural fund, Plug and Play Japan Fund I, which surpassed its initial target. This milestone represents a significant step forward for Plug and Play Japan, and I would like to extend my sincere gratitude to all of our Limited Partners for their trust and support. It also reflects the growing confidence in the strength and potential of the Japanese startup ecosystem.
Japan is home to world-class technology and exceptional talent. However, unlocking its full potential requires greater access to global markets. As a Silicon Valley-born venture capital firm, our mission is to serve as a bridge between Japan and the rest of the world.
Through this fund, we intend to accelerate the global expansion of Japanese startups while fostering deeper collaboration with international startups seeking to enter the Japanese market. We remain committed to amplifying Japanese innovation on the global stage and contributing to the continued growth of the ecosystem.”
Phillip Vincent, CEO, Plug and Play Japan
“Since the launch of Plug and Play’s first fund in Japan last March, we have welcomed many LPs and are pleased to announce the final close of the fund, exceeding our original target size. I would like to express my sincere gratitude to all the companies that have supported and believed in this fund. The establishment and growth of this fund represent an extremely important and meaningful milestone for both Plug and Play Japan and me personally.
Since the fund’s inception, we have already invested in several startups and have received many inquiries regarding the overseas expansion of Japanese startups and the entry of international startups into the Japanese market. Through these practical experiences, I strongly recognize the high potential of startups in Japan and the critical importance of global connectivity.
Moving forward, we will maximize Plug and Play’s global network and expertise to provide tangible value to promising startups by supporting their business collaborations with major corporations and their international expansion. Furthermore, to continue to develop the Japanese startup ecosystem, we intend to actively invest in cutting-edge international companies seeking to enter the Japanese market.
Japanese startups, including regional-area and university-launched ventures, possess immense potential to compete on a world-class level. To support these challenges, we are committed to contributing to the sustainable development of the entire ecosystem — not just on our own, but through collaboration with corporations, investors, municipalities, universities, and our global network, starting with Silicon Valley.”
Jingqian Ma, Partner, Head of Ventures, Plug and Play Japan
