# Spiral Capital: portfolio, investments and team

> Spiral Capital is a vc firm based in Japan. 69 investments on record, 16 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/spiral-capital (Millionrounds; every figure on the page links to its filing or article)

Japan · [Investor](https://millionrounds.com/investors)

# Spiral Capital

Last cheque observed Sep 2026; 69 cheques on record.

Email

Deploying now New fund, Aug 2024 VC firm

Seed Series A Series B Artificial Intelligence Logistics

Follow Spiral Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fspiral-capital)

Deploying now

**84%** of best year **16** **cheques in 12 months**, 69 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$6.9M** Rounds led **0 of 69** Sole investor **2 rounds** Mostly in **Japan, 88%**

Pitch Spiral Capital

## Spiral Capital highlights

- 01 16 cheques in the last 12 months
- 02 Mostly Venture and Series B: 57% of its rounds
- 03 Sole investor in 2 rounds, median $6.8M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Artificial Intelligence Logistics
- **Based in:** Tokyo, Japan
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **69 appearances**

- **2026** 13 rounds
- **Sept** **[Planet Savers](https://millionrounds.com/company/planet-savers)** Grant · JP **$635K** With 1 other
- **Sept** **[WED](https://millionrounds.com/company/wed)** Venture · JP **Undisclosed** With 2 others
- **Sept** **[Kiviaq](https://millionrounds.com/company/kiviaq)** Seed · JP **$971K** With 3 others
- **Aug** **[Aeronext](https://millionrounds.com/company/aeronext)** Venture · JP **$4.0M** With 2 others
- **Jul** **[AZUL Energy](https://millionrounds.com/company/azul-energy)** Series A · JP **$150K** With 3 others
- **Jul** **[Mozu](https://millionrounds.com/company/mozu)** Series B · JP **$8.0M** With 2 others
- **Jun** **[Dioseve](https://millionrounds.com/company/dioseve)** Series A · JP **$6.2M** With 2 others
- **May** **[WAKA](https://millionrounds.com/company/waka)** Seed · JP **$1.6M** With 2 others
- **Apr** **[Monochrome](https://millionrounds.com/company/monochrome)** Series B · JP **$11M** With 1 other
- **Mar** **[Zevero](https://millionrounds.com/company/zevero)** Seed · SG **$7.0M** With 1 other
- **Jan** **[bellFace](https://millionrounds.com/company/bellface)** Venture · JP **$4.8M** With 3 others
- **Jan** **[OPTIMIND](https://millionrounds.com/company/optimind)** Venture · JP **Undisclosed** With 2 others
- **Jan** **[Renatus Robotics](https://millionrounds.com/company/renatus-robotics)** Venture · JP **Undisclosed** With 4 others
- **2025** 16 rounds
- **Dec** **[Light](https://millionrounds.com/company/light)** Debt · US **$4.0M** With 3 others
- **Nov** **[Enerbank Japan](https://millionrounds.com/company/enerbank-japan)** Series B · JP **$5.2M** With 4 others
- **Nov** **[Tailor](https://millionrounds.com/company/tailor)** Series A · JP **$15M** With 5 others
- **Oct** **[SUSHI TOP MARKETING](https://millionrounds.com/company/sushi-top-marketing)** Series A · JP **$658K** With 1 other
- **Oct** **[WED](https://millionrounds.com/company/wed)** Venture · JP **Undisclosed** With 2 others
- **Sept** **[ROMS](https://millionrounds.com/company/roms)** Venture · JP **$8.8M** With 1 other
- **Aug** **[Pale Blue](https://millionrounds.com/company/pale-blue)** Series C · JP **$10M** With 7 others
- **Jul** **[StoryHub](https://millionrounds.com/company/storyhub)** Series A · JP **$1.5M** With 2 others
- **Jul** **[Acompany](https://millionrounds.com/company/acompany)** Debt · JP **$1.1M** With 4 others
- **Jul** **[Newmo](https://millionrounds.com/company/newmo)** Series A · JP **$8.4M** With 5 others
- **Jul** **[HITOTSU](https://millionrounds.com/company/hitotsu)** Series A · JP **$746K** With 2 others
- **Jun** **[Tailor](https://millionrounds.com/company/tailor)** Series A · US · TechCrunch **$22M** With 4 others
- **Jun** **[BACKSEAT](https://millionrounds.com/company/backseat)** Seed · JP **$9.7M** With 3 others
- **May** **[Mozu](https://millionrounds.com/company/mozu)** Venture · JP **Undisclosed** Sole investor
- **Mar** **[Bloomo Securities](https://millionrounds.com/company/bloomo-securities)** Series A · JP **$14M** With 4 others
- **Mar** **[PowerX](https://millionrounds.com/company/powerx)** Series C · US **$21M** With 3 others
- **2024** 17 rounds
- **Dec** **[HQ](https://millionrounds.com/company/hq)** Series B · JP **$13M** With 5 others
- **Nov** **[Aeronext](https://millionrounds.com/company/aeronext)** Series B · JP **$4.0M** With 2 others
- **Nov** **[bitkey](https://millionrounds.com/company/bitkey)** Venture · JP **Undisclosed** With 3 others
- **Sept** **[Tanp](https://millionrounds.com/company/tanp)** Venture · JP **$7.0M** With 4 others
- **Sept** **[Azit](https://millionrounds.com/company/azit)** Venture · JP **Undisclosed** With 4 others
- **Sept** **[Zevero](https://millionrounds.com/company/zevero)** Seed · SG **$7.0M** With 1 other
- **Aug** **[H2](https://millionrounds.com/company/h2)** Seed · JP **$2.1M** With 2 others
- **Aug** **[Nealle](https://millionrounds.com/company/nealle)** Series B · JP **$31M** With 4 others
- **Aug** **[400F](https://millionrounds.com/company/400f)** Venture · JP **$7.9M** With 4 others
- **Jul** **[AZUL Energy](https://millionrounds.com/company/azul-energy)** Grant · JP **$150K** With 3 others
- **Jul** **[Loglass](https://millionrounds.com/company/loglass)** Series B · JP **$47M** With 5 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **1 named**

DM **Dennis Michael Sanche** Manager of the General Partner i Filing they signed

We also hold **35** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**2+** funds on file numbered funds in its name

## What they claim to have backed

From their own portfolio page (on their website)

**18** of 60 we have independently watched raise

[Anycarry](https://millionrounds.com/company/anycarry)[Bellface](https://millionrounds.com/company/bellface)[Digdig](https://millionrounds.com/company/digdig)[Dodai Electrifying urban](https://millionrounds.com/company/dodai)[Dricos](https://millionrounds.com/company/dricos)[Ellethermo](https://millionrounds.com/company/ellethermo)[Emulsion Flow Technologies](https://millionrounds.com/company/emulsion-flow-technologies)[Enpay](https://millionrounds.com/company/enpay)[Famitra](https://millionrounds.com/company/famitra)[Hacomono](https://millionrounds.com/company/hacomono)[Iyell](https://millionrounds.com/company/iyell)[Kikitori](https://millionrounds.com/company/kikitori)[Mepple](https://millionrounds.com/company/mepple)[Newmo](https://millionrounds.com/company/newmo)[Route-d](https://millionrounds.com/company/route-d)[SUSHI TOP MARKETING](https://millionrounds.com/company/sushi-top-marketing)[SmartBank Provider of](https://millionrounds.com/company/smartbank)[Souco](https://millionrounds.com/company/souco) 400F Provider of AMPHICO Develops eco-friendly, AZUL Energy Providers Aba-lab Acompany Provider of Aculys Pharma Bio-venture Adacotech Provider of Alt Azit Provider of BACKSEAT Providing embedded Bloomo Securities Launching Carbase Corp Corporate Corporate Curreio (Exit) Engaged Dioseve Developer of Domuz Provider of Ecbo Eight Knot Autonomous Enerbank FULL KAITEN Provider H2Corporation Provider of HITOTSU Provider of HQ Provider of INTER HOLDINGS Provides IXYAS AI-powered store Integriculture Builds cell-agriculture JOSYS Provider of KOALA Tech Research Kiviaq Redesigning access Kreation Verse Providers LINEA Innovations A LayerX Provider of LexxPluss Provider of Life Log Technology Light Runs live-streaming Live Search BPaaS Loglass Provider of M Developer and MECHANOCROSS Pioneering next-generation MOZU Developer of and 51 more

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**Raised**

a new fund in Aug 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$6.9M** the round, not its cheque Alone, median **$6.8M**

Led 0 of 69 rounds **0%**

- **Sole investor:** 2 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Venture *23*
- Series B said *14*
- Series A said *13*
- Seed said *11*
- Debt *2*
- Series C *2*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Global Brain Corporation](https://millionrounds.com/fund/global-brain-corporation) 15
- [Mitsubishi UFJ Capital](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd) 15
- [SMBC Venture Capital](https://millionrounds.com/fund/smbc-venture-capital-2) 15
- [Mizuho Capital](https://millionrounds.com/fund/mizuho-capital) 13
- [ANRI](https://millionrounds.com/fund/anri) 11
- [Nissay Capital](https://millionrounds.com/fund/nissay-capital) 8

**Pitching Spiral Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Spiral Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Global Brain Corporation** VC firm **15** rounds together](https://millionrounds.com/fund/global-brain-corporation)[**Mitsubishi UFJ Capital** VC firm **15** rounds together](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd)[**SMBC Venture Capital** Investment bank **15** rounds together](https://millionrounds.com/fund/smbc-venture-capital-2)[**Mizuho Capital** VC firm **13** rounds together](https://millionrounds.com/fund/mizuho-capital)[**ANRI** VC firm **11** rounds together](https://millionrounds.com/fund/anri)[**Nissay Capital** VC firm **8** rounds together](https://millionrounds.com/fund/nissay-capital)[**Incubate Fund** VC firm **7** rounds together](https://millionrounds.com/fund/incubate-fund)[**Mizuho Corporate Bank** VC firm **7** rounds together](https://millionrounds.com/fund/mizuho-corporate-bank)[**SBI Investment** VC firm **7** rounds together](https://millionrounds.com/fund/sbi-investment)[**Coral Capital** VC firm **4** rounds together](https://millionrounds.com/fund/coral-capital)[**East Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/east-ventures)[**FFG Venture Business Partners** VC firm **4** rounds together](https://millionrounds.com/fund/ffg-venture-business-partners)

## Recently backed

The latest companies Spiral Capital put money into.

[**Planet Savers** $635K · Sept 2026](https://millionrounds.com/company/planet-savers)[**WED** Sept 2026](https://millionrounds.com/company/wed)[**Aeronext** $4.0M · Aug 2026](https://millionrounds.com/company/aeronext)[**Mozu** $8.0M · Jul 2026](https://millionrounds.com/company/mozu)[**Dioseve** $6.2M · Jun 2026](https://millionrounds.com/company/dioseve)[**WAKA** $1.6M · May 2026](https://millionrounds.com/company/waka)

## Quick answers about Spiral Capital

### What does Spiral Capital invest in?

Spiral Capital invests most often at Venture and Series B (57% of the rounds on record), in sectors such as Artificial Intelligence and Logistics.

### How active is Spiral Capital?

69 investments on record, 16 of them in the last 12 months. The most recent was in Sept 2026.

### What has Spiral Capital invested in recently?

Its most recent investments on record: Planet Savers (Grant, Sept 2026), WED (Venture, Sept 2026) and Kiviaq (Seed, Sept 2026).

### How big are Spiral Capital's cheques?

The median round it joins is $6.9M.

### Does Spiral Capital lead rounds?

Rarely, if at all: none of its 69 investments on record names it as the lead.

### Where does Spiral Capital invest?

Most of the companies it backs are in Japan (88%), the United States (8%) and Singapore (5%).

### Is Spiral Capital investing now?

Yes: it is actively investing, with 16 investments in the last 12 months.

### Who does Spiral Capital invest alongside?

Most often Global Brain Corporation (15 rounds together), Mitsubishi UFJ Capital (15 rounds together) and SMBC Venture Capital (15 rounds together).

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