# XVC: portfolio, investments and team

> XVC is a vc firm based in Japan. 5 investments on record, 1 in the last 12 months, latest Jan 2026. Portfolio, stages, co-investors and team.

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

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

# XVC

Last cheque observed Jan 2026; 5 cheques on record.

Email

Deploying now New fund, Jul 2021 VC firm

Pre-seed Seed Deeptech Hardtech Xr

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

Deploying now

**100%** of best year **1** **cheques in 12 months**, 5 on record

Since the last cheque **291** days **00** hrs **00** min **00** sec

Median round **$40M** Rounds led **1 of 5** Sole investor **1 rounds**

Pitch XVC

## XVC highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Series A and Series B: 75% of its rounds
- 03 Sole investor in 1 rounds, median $10M

## What they do

> A VC that supports deep-tech startups from the pre-seed stage Translated from Japanese, from their own website

- **Type:** VC firm
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed
- **Sectors:** Deeptech Hardtech Xr
- **Based in:** Tokyo, Japan
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **5 appearances**

- **2026** 1 round
- **Jan** **[VelaFi](https://millionrounds.com/company/velafi)** Series B · LatamList **$20M** *Led*
- **2019** 3 rounds
- **Dec** **[Milian Technology](https://millionrounds.com/company/milian-technology)** Series A · CN · 36Kr **$10M** Sole investor
- **Jun** **[Snowplus](https://millionrounds.com/company/snowplus)** Series A · CN · Voice **$40M** With 11 others
- **Jun** **[Haoqipei](https://millionrounds.com/company/haoqipei)** CN · Voice **$60M** With 4 others
- **2018** 1 round
- **Jan** **[Haoqipei](https://millionrounds.com/company/haoqipei)** Series C · CN · China Money Network **$60M** 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 **3 named**

BH **Boyu Hu** Director of General Partner of General Partner i Filing they signed

CE **C E Winnie Hon** Director of Xvc Management Ltd. i Form ADV

LR **Lynden Rees John** Director of Xvc Management Ltd. i Form ADV

We also hold **1** person 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

**$1.2B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** XVC Management LTD.
- **SEC number:** CRD 297889

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 6 we have independently watched raise

INDEE Japan Matsuli Medited N-lab Sci-bone X メタコマース X メタコマース

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 Jul 2021

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

## The cheque

Pre-seed Seed

Median round joined **$40M** the round, not its cheque Alone, median **$10M**

Led 1 of 5 rounds **20%**

- **Sole investor:** 1 rounds
- **Last cheque:** Jan 2026

Rounds by stage said on their site

- Series A *2*
- Series B *1*
- Series C *1*
- Pre-seed said *-*
- Seed said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) 3
- [SIG](https://millionrounds.com/fund/sig) 3
- [Access Technology Ventures](https://millionrounds.com/fund/access-technology-ventures) 2
- [Jeneration Capital Management](https://millionrounds.com/fund/jeneration-capital-management) 2

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

Add to your CRM *→*

## Who they invest alongside

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

[**DCM Ventures** Private equity **3** rounds together](https://millionrounds.com/fund/dcm-ventures)[**SIG** Investment firm **3** rounds together](https://millionrounds.com/fund/sig)[**Access Technology Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/access-technology-ventures)[**Jeneration Capital Management** Private equity **2** rounds together](https://millionrounds.com/fund/jeneration-capital-management)

## Recently backed

The latest companies XVC put money into.

[**VelaFi** $20M · Jan 2026](https://millionrounds.com/company/velafi)[**Milian Technology** $10M · Dec 2019](https://millionrounds.com/company/milian-technology)

## Quick answers about XVC

### What does XVC invest in?

XVC invests most often at Series A and Series B (75% of the rounds on record), in sectors such as Deeptech, Hardtech and Xr.

### How active is XVC?

5 investments on record, 1 of them in the last 12 months, and it led 1. The most recent was in Jan 2026.

### What has XVC invested in recently?

Its most recent investments on record: VelaFi (Series B, Jan 2026), Milian Technology (Series A, Dec 2019) and Snowplus (Series A, Jun 2019).

### How big are XVC's cheques?

The median round it joins is $40M.

### Does XVC lead rounds?

Yes: it led 1 of its 5 investments on record (20%).

### Is XVC investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does XVC invest alongside?

Most often DCM Ventures (3 rounds together), SIG (3 rounds together) and Access Technology Ventures (2 rounds together).

### What kind of investor is XVC?

XVC is a VC firm based in Tokyo, Japan.

## Raising now?

Find the investors who back rounds like yours, and keep every conversation on one fundraising board.

Find similar investorsOpen your CRM

Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=xvc) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=xvc)