# Lead investors in Japan (2026 list) > 39 lead investors in Japan, 90% active in the last 12 months. Led by Goldman Sachs, QED Investors, Incubate Fund. Ranked by what they funded. Source: https://millionrounds.com/lists/lead-investors-in-japan (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Lead investors in Japan Updated 7 November 2026 Firms we have watched lead a round raised by a company in Japan in the last two years, wherever the firm is based. [See all 39 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Flead-investors-in-japan)The top 25 **39** investors on the list *+3* this week **318** cheques in 12 months *-1%* against the market **$12M** median round they joined *+49%* against the market median **90%** wrote a cheque in 12 months **100%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (22) - 1 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen - 2 [QED Investors](https://millionrounds.com/fund/qed-investors) *Deploying now* VC firm · United States **314** **$29M** median round **Oct 2026** last seen - 3 [Incubate Fund](https://millionrounds.com/fund/incubate-fund) *Deploying now* VC firm · Japan **245** **$2.8M** median round **Oct 2026** last seen - 4 [TCV](https://millionrounds.com/fund/tcv) *Deploying now* Private equity · United States **200** **$100M** median round **Oct 2026** last seen - 5 [ANRI](https://millionrounds.com/fund/anri) *Deploying now* VC firm · Japan **189** **$4.2M** median round **Nov 2026** last seen - 6 [ITOCHU Technology Ventures](https://millionrounds.com/fund/itochu-technology-ventures) *Deploying now* VC firm · Japan **88** **$5.5M** median round **Oct 2026** last seen - 7 [Globis Capital Partners](https://millionrounds.com/fund/globis-capital-partners) *Deploying now* VC firm · Japan **86** **$8.4M** median round **Oct 2026** last seen - 8 [Mobile Internet Capital](https://millionrounds.com/fund/mobile-internet-capital-inc) *Deploying now* VC firm · Japan **82** **$3.8M** median round **Oct 2026** last seen - 9 [Coral Capital](https://millionrounds.com/fund/coral-capital) *Deploying now* VC firm · Japan **66** **$6M** median round **Oct 2026** last seen - 10 [X Tech Ventures](https://millionrounds.com/fund/xtech-ventures) *Deploying now* VC firm · United States **58** **$2.1M** median round **Nov 2026** last seen - 11 [DBJ Capital](https://millionrounds.com/fund/dbj-capital) *Deploying now* Government · Japan **56** **$4.6M** median round **Oct 2026** last seen - 12 [Shoko Chukin Bank](https://millionrounds.com/fund/shoko-chukin-bank) *Deploying now* VC firm · United States **56** **$5.7M** median round **Oct 2026** last seen - 13 [Qatar Ban](https://millionrounds.com/fund/qatar-ban) *Deploying now* Growth equity · Qatar **33** **$548M** median round **Sept 2026** last seen - 14 [Fast Track Initiative](https://millionrounds.com/fund/fast-track-initiative) *Deploying now* VC firm · United States **3** **$29M** median round **Apr 2026** last seen - 15 [Newton Biocapital](https://millionrounds.com/fund/newton-biocapital) quiet VC firm · Belgium **3** **$25M** median round **Nov 2024** last seen - 16 [Road Capital](https://millionrounds.com/fund/road-capital) quiet Hedge fund · Spain **3** **$7.2M** median round **Oct 2025** last seen - 17 [X&KSK](https://millionrounds.com/fund/x-and-ksk) *Deploying now* Growth equity **2** **$28M** median round **Aug 2026** last seen - 18 [Asteria Corporation](https://millionrounds.com/fund/asteria-corporation) *Deploying now* Growth equity **1** **$12M** median round **Feb 2026** last seen - 19 [Galaxy Ventures](https://millionrounds.com/fund/galaxy-ventures-3) quiet VC firm · United States **1** **$7.2M** median round **Oct 2025** last seen - 20 [IMPACT Capital](https://millionrounds.com/fund/impact-capital) *Deploying now* Hedge fund · United Arab Emirates **1** **-** median round **Oct 2026** last seen - 21 [Link Capital](https://millionrounds.com/fund/link-venture-capital) *Deploying now* VC firm · Norway **1** **$410K** median round **Oct 2026** last seen - 22 [Minerva Growth Partners](https://millionrounds.com/fund/minerva-growth-partners) *Deploying now* Growth equity · Japan **1** **$225M** median round **Oct 2026** last seen - 23 [NTT Group](https://millionrounds.com/fund/ntt-group) *Deploying now* Growth equity **1** **$233M** median round **Dec 2025** last seen - 24 [ON&BOARD](https://millionrounds.com/fund/on-and-board) *Deploying now* VC firm · Japan **1** **$8.2M** median round **Oct 2026** last seen - 25 [SK Square](https://millionrounds.com/fund/sk-square) *Deploying now* Investment bank · South Korea **1** **$224M** median round **Oct 2026** last seen **14 more on this list** All 39 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Flead-investors-in-japan) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Pay2o](https://millionrounds.com/company/pay2o)** Seed *Led by* [X Tech Ventures](https://millionrounds.com/fund/xtech-ventures) - **5** Nov **[Simulacra](https://millionrounds.com/company/simulacra)** Pre-seed *Led by* [ANRI](https://millionrounds.com/fund/anri) - **4** Nov **[Quadlytics](https://millionrounds.com/company/quadlytics)** Series B *Led by* [JP LIFE NEXT1](https://millionrounds.com/fund/jp-life-next1) - **29** Oct **[Collective](https://millionrounds.com/company/collective)** Series B · $40M *With* [QED Investors](https://millionrounds.com/fund/qed-investors) - **29** Oct **[Solink](https://millionrounds.com/company/solink)** Growth · $100M *With* [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) - **29** Oct **[Collective](https://millionrounds.com/company/collective)** Series B · $100M *Led by* [QED Investors](https://millionrounds.com/fund/qed-investors) ## Stages This Year 293 rounds - Debt **17%** - Venture **17%** - Seed **13%** - Series A **12%** - Series C **10%** - Other **31%** ## What They Backed Sectors, last 12 months - AI **80** - Fintech **43** - Financial Services **34** - Big Data & Analytics **21** - Healthcare **15** - Cloud **14** ## Cheques by Quarter Led Joined 78 Q1 25 90 Q2 25 77 Q3 25 90 Q4 25 98 Q1 26 84 Q2 26 74 Q3 26 36 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI lead investors 1,723](https://millionrounds.com/lists/ai-lead-investors) - [Lead investors in United States 1,370](https://millionrounds.com/lists/lead-investors-in-united-states) - [Seed lead investors 1,091](https://millionrounds.com/lists/seed-lead-investors) - [Series A lead investors 920](https://millionrounds.com/lists/series-a-lead-investors) - [Fintech lead investors 763](https://millionrounds.com/lists/fintech-lead-investors) - [Series B lead investors 579](https://millionrounds.com/lists/series-b-lead-investors) - [Growth lead investors 555](https://millionrounds.com/lists/growth-lead-investors) - [Robotics lead investors 397](https://millionrounds.com/lists/robotics-lead-investors) - [Pre-seed lead investors 396](https://millionrounds.com/lists/pre-seed-lead-investors) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about lead investors in Japan ### Who are the most active lead investors in Japan? By cheques observed, the most active are Goldman Sachs, QED Investors, Incubate Fund, TCV and ANRI. ### How many lead investors in Japan are there? 39 are on record. 90% made an investment in the last 12 months and 100% have led a round. ### Which stages do lead investors in Japan back? Of the rounds with a named stage in the last 12 months, mostly Debt (23%) and Seed (17%). ### How big are the rounds lead investors in Japan join? The typical (median) round among the leading investors here is $8.4M. ### Which sectors do lead investors in Japan back most? In the last 12 months, mostly AI, Fintech and Financial Services. ### Which lead investors in Japan lead the most rounds? QED Investors (31 led), Goldman Sachs (22 led) and TCV (17 led). ### Where are lead investors in Japan based? Among the most active, most are based in Japan (9), the United States (7) and Qatar (1). ### What have lead investors in Japan invested in recently? Recent rounds include Pay2o (Seed, Nov 2026, with X Tech Ventures), Simulacra (Pre-seed, Nov 2026, with ANRI) and Quadlytics (Series B, Nov 2026, with JP LIFE NEXT1). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)