# PE firms based in Japan (2026 list) > 87 PE firms based in Japan, 14% active in the last 12 months. Led by UTokyo Innovation Platform, Aozora Corporate Investment, Recruit Holdings. Source: https://millionrounds.com/lists/pe-firms-based-in-japan (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms based in Japan Updated 7 November 2026 PE firms headquartered in Japan. [See all 87 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-japan)The top 25 **87** investors on the list No change this week **33** cheques in 12 months *+12%* against the market **$21M** median round they joined *+163%* against the market median **14%** wrote a cheque in 12 months **8%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (9) - 1 [UTokyo Innovation Platform](https://millionrounds.com/fund/utokyo-innovation-platform) *Deploying now* Growth equity · Japan **50** **$4.1M** median round **Jul 2026** last seen - 2 [Aozora Corporate Investment](https://millionrounds.com/fund/aozora-corporate-investment) *Deploying now* Private equity · Japan **34** **$6.7M** median round **Sept 2026** last seen - 3 [Recruit Holdings](https://millionrounds.com/fund/recruit-holdings) quiet Growth equity · Japan **19** **$42M** median round **Oct 2019** last seen - 4 [Innovation Network Corporation Of Japan](https://millionrounds.com/fund/innovation-network-corporation-of-japan) dormant Growth equity · Japan **16** **$24M** median round **Dec 2017** last seen - 5 [Yasuda Enteprise Development Co. Ltd](https://millionrounds.com/fund/yasuda-enteprise-development-co-ltd) dormant Growth equity · Japan **13** **$20M** median round **Aug 2012** last seen - 6 [TECHFUND](https://millionrounds.com/fund/techfund-inc) quiet Growth equity · Japan **10** **$3.3M** median round **Dec 2007** last seen - 7 [Sakana AI](https://millionrounds.com/fund/mufg) *Deploying now* Growth equity · Japan **9** **$450M** median round **Sept 2026** last seen - 8 [Atalanta Therapeutics](https://millionrounds.com/fund/atalanta-therapeutics) quiet Growth equity · Japan **8** **$60M** median round **Dec 2024** last seen - 9 [Astellas Pharma](https://millionrounds.com/fund/astellas-pharma) quiet Growth equity · Japan **3** **$14M** median round **Jul 2015** last seen - 10 [Toyota Motor Corporation](https://millionrounds.com/fund/toyota-motor-corporation) *Deploying now* Growth equity · Japan **3** **$300M** median round **Jul 2026** last seen - 11 [Daiwa PI Partners](https://millionrounds.com/fund/daiwa-pi-partners-co-ltd) quiet Private equity · Japan **3** **$30M** median round **Mar 2020** last seen - 12 [Hiroshi Mikitani](https://millionrounds.com/fund/hiroshi-mikitani) quiet Growth equity · Japan **3** **$83M** median round **Aug 2018** last seen - 13 [NTT Electronics](https://millionrounds.com/fund/ntt-electronics) quiet Growth equity · Japan **3** **$6.5M** median round **Jul 2012** last seen - 14 [Dual Bridge Capital](https://millionrounds.com/fund/dual-bridge-capital) *Deploying now* Growth equity · Japan **2** **$114M** median round **Oct 2026** last seen - 15 [Mitsui Chemicals](https://millionrounds.com/fund/mitsui-chemicals) *Deploying now* Growth equity · Japan **2** **$98M** median round **Apr 2026** last seen - 16 [Mixi](https://millionrounds.com/fund/mixi) *Deploying now* Growth equity · Japan **2** **$2.7M** median round **Jul 2026** last seen - 17 [T Capital Partners](https://millionrounds.com/fund/t-capital-partners) quiet Growth equity · Japan **2** **$22M** median round **Feb 2017** last seen - 18 [Daiwa Securities SMBC Principal Investments](https://millionrounds.com/fund/daiwa-securities-smbc-principal-investments) quiet Growth equity · Japan **2** **$31M** median round **Jul 2008** last seen - 19 [MKS Partners](https://millionrounds.com/fund/mks-partners) quiet Growth equity · Japan **2** **$11M** median round **Nov 2018** last seen - 20 [Altech Co.](https://millionrounds.com/fund/altech-co) quiet Growth equity · Japan **1** **$20M** median round **Jul 2004** last seen - 21 [BroadBand Tower](https://millionrounds.com/fund/broadband-tower) quiet Growth equity · Japan **1** **$45M** median round **Aug 2015** last seen - 22 [HEROZ](https://millionrounds.com/fund/heroz) *Deploying now* Growth equity · Japan **1** **$12M** median round **Feb 2026** last seen - 23 [Hosiden](https://millionrounds.com/fund/hosiden) quiet Growth equity · Japan **1** **$4.5M** median round **Feb 2013** last seen - 24 [Ikuyo](https://millionrounds.com/fund/ikuyo) *Deploying now* Growth equity · Japan **1** **$20M** median round **Jan 2026** last seen - 25 [Intersil](https://millionrounds.com/fund/intersil) quiet Growth equity · Japan **1** **$52M** median round **Aug 2000** last seen **62 more on this list** All 87 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%2Fpe-firms-based-in-japan) ## The Newest Cheques Rounds this list's investors joined most recently - **9** Oct **Ocean** Series A · $3.2M *With* [Dual Bridge Capital](https://millionrounds.com/fund/dual-bridge-capital) - **6** Oct **[Global Trust Networks (GTN)](https://millionrounds.com/company/global-trust-networks-gtn)** Growth · $225M *Led by* [Minerva Growth Partners](https://millionrounds.com/fund/minerva-growth-partners) - **24** Sept **[Bird.com](https://millionrounds.com/company/bird-com)** Debt · $450M *With* [Sakana AI](https://millionrounds.com/fund/mufg) - **1** Sept **[Sagri](https://millionrounds.com/company/sagri)** Grant · $6.8M *With* [Aozora Corporate Investment](https://millionrounds.com/fund/aozora-corporate-investment) - **1** Sept **[Power Laser](https://millionrounds.com/company/power-laser)** Series A · $7.5M *With* [Aozora Corporate Investment](https://millionrounds.com/fund/aozora-corporate-investment) - **1** Sept **[Aeterlink](https://millionrounds.com/company/aeterlink)** Venture · $12M *With* [Aozora Corporate Investment](https://millionrounds.com/fund/aozora-corporate-investment) ## Stages This Year 31 rounds - Series A **19%** - Debt **16%** - Venture **16%** - Seed **13%** - Series B **10%** - Other **26%** ## What They Backed Sectors, last 12 months - AI **9** - Fintech **6** - Construction **5** - Automotive & EVs **4** - Robotics **3** - Aerospace & Space **2** ## Cheques by Quarter Led Joined 5 Q1 25 9 Q2 25 3 Q3 25 16 Q4 25 9 Q1 26 6 Q2 26 9 Q3 26 4 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about PE firms based in Japan ### Who are the most active PE firms based in Japan? By cheques observed, the most active are UTokyo Innovation Platform, Aozora Corporate Investment, Recruit Holdings, Innovation Network Corporation Of Japan and Yasuda Enteprise Development Co. Ltd. ### How many PE firms based in Japan are there? 87 are on record. 14% made an investment in the last 12 months and 8% have led a round. ### Which stages do PE firms based in Japan back? Of the rounds with a named stage in the last 12 months, mostly Series A (24%) and Debt (20%). ### How big are the rounds PE firms based in Japan join? The typical (median) round among the leading investors here is $22M. ### Which sectors do PE firms based in Japan back most? In the last 12 months, mostly AI, Fintech and Construction. ### Which PE firms based in Japan lead the most rounds? Sakana AI (2 led), Toyota Motor Corporation (2 led) and Mixi (1 led). ### What have PE firms based in Japan invested in recently? Recent rounds include Ocean (Series A, Oct 2026, with Dual Bridge Capital), Global Trust Networks (GTN) (Growth, Oct 2026, with Minerva Growth Partners) and Bird.com (Debt, Sept 2026, with Sakana AI). ### How is this list of PE firms based in Japan ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)