# SaaS investors in Japan (2026 list)

> 39 saaS investors in Japan, 92% active in the last 12 months. Led by Mitsubishi UFJ Capital, Mizuho Capital, Japan Finance Corporation.

Source: https://millionrounds.com/lists/saas-investors-in-japan (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# SaaS investors in Japan

Updated 7 November 2026

Firms observed backing a saaS 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%2Fsaas-investors-in-japan)The top 25

**39** investors on the list *+3* this week

**606** cheques in 12 months *+6%* against the market

**$14M** median round they joined *+75%* against the market median

**92%** wrote a cheque in 12 months

**28%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (24)

- 1 [Mitsubishi UFJ Capital](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd) *Deploying now* VC firm · Japan **493** **$4.7M** median round **Nov 2026** last seen
- 2 [Mizuho Capital](https://millionrounds.com/fund/mizuho-capital) *Deploying now* VC firm · Japan **397** **$6.5M** median round **Nov 2026** last seen
- 3 [Japan Finance Corporation](https://millionrounds.com/fund/japan-finance-corporation) *Deploying now* Investment firm · Japan **247** **$2M** median round **Oct 2026** last seen
- 4 [Incubate Fund](https://millionrounds.com/fund/incubate-fund) *Deploying now* VC firm · Japan **245** **$2.8M** median round **Oct 2026** last seen
- 5 [Mizuho Corporate Bank](https://millionrounds.com/fund/mizuho-corporate-bank) *Deploying now* VC firm · Japan **217** **$9.5M** median round **Oct 2026** last seen
- 6 [TCV](https://millionrounds.com/fund/tcv) *Deploying now* Private equity · United States **200** **$100M** median round **Oct 2026** last seen
- 7 [Z Venture Capital](https://millionrounds.com/fund/z-venture-capital) *Deploying now* Corporate VC · Japan **200** **$10M** median round **Oct 2026** last seen
- 8 [MUFG Bank](https://millionrounds.com/fund/mufg-bank) *Deploying now* Investment firm **139** **$43M** median round **Oct 2026** last seen
- 9 [Sumitomo Mitsui Banking Corporation](https://millionrounds.com/fund/sumitomo-mitsui-banking-corporation) *Deploying now* VC firm · Japan **124** **$11M** median round **Oct 2026** last seen
- 10 [NTT DOCOMO Ventures](https://millionrounds.com/fund/ntt-docomo-ventures) *Deploying now* Accelerator · Japan **115** **$12M** median round **Oct 2026** last seen
- 11 [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
- 12 [JIC Venture Growth Investments](https://millionrounds.com/fund/jic-venture-growth-investments) *Deploying now* VC firm **74** **$15M** median round **Sept 2026** last seen
- 13 [X Tech Ventures](https://millionrounds.com/fund/xtech-ventures) *Deploying now* VC firm · United States **58** **$2.1M** median round **Nov 2026** last seen
- 14 [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
- 15 [JAFCO Group](https://millionrounds.com/fund/jafco-group) quiet VC firm · Japan **6** **$100M** median round **Sept 2025** last seen
- 16 [Coreline Ventures](https://millionrounds.com/fund/coreline-ventures) *Deploying now* VC firm · United States **4** **$76M** median round **Sept 2026** last seen
- 17 [JR East Start Up](https://millionrounds.com/fund/jr-east-startup) *Deploying now* VC firm · Japan **4** **$6.8M** median round **Oct 2026** last seen
- 18 [Shizuoka Bank](https://millionrounds.com/fund/shizuoka-bank) *Deploying now* Growth equity · United States **3** **$13M** median round **Oct 2026** last seen
- 19 [All Star SAAS Fund](https://millionrounds.com/fund/all-star-saas-fund) *Deploying now* VC firm · Japan **2** **$7.5M** median round **Oct 2026** last seen
- 20 [Keyrock Capital Management Limited](https://millionrounds.com/fund/keyrock-capital-management-limited) *Deploying now* Private equity · Hong Kong SAR China **2** **$100M** median round **Nov 2026** last seen
- 21 [MPower Partners](https://millionrounds.com/fund/mpower-partners) *Deploying now* VC firm · Japan **2** **$82M** median round **Nov 2026** last seen
- 22 [Artemis Ventures](https://millionrounds.com/fund/artemis-ventures) *Deploying now* VC firm · United States **2** **$21M** median round **Nov 2026** last seen
- 23 [NTT](https://millionrounds.com/fund/ntt) *Deploying now* Growth equity **2** **$857M** median round **Oct 2026** last seen
- 24 [Sumitomo Mitsui Trust Bank](https://millionrounds.com/fund/sumitomo-mitsui-trust-bank) *Deploying now* VC firm · Japan **2** **$633M** median round **Oct 2026** last seen
- 25 [DNX Capital](https://millionrounds.com/fund/dnx-capital) *Deploying now* VC firm · Japan **1** **$3.1M** 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%2Fsaas-investors-in-japan)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Nealle](https://millionrounds.com/company/nealle)** Series C *With* [Keyrock Capital Management Limited](https://millionrounds.com/fund/keyrock-capital-management-limited)
- **5** Nov **[Pay2o](https://millionrounds.com/company/pay2o)** Seed *Led by* [X Tech Ventures](https://millionrounds.com/fund/xtech-ventures)
- **5** Nov **[Fact Base](https://millionrounds.com/company/factbase)** Series D+ · $29M *With* [MPower Partners](https://millionrounds.com/fund/mpower-partners)
- **2** Nov **[BionicM](https://millionrounds.com/company/bionicm)** Series B *With* [Mitsubishi UFJ Capital](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd)
- **30** Oct **[Neoen](https://millionrounds.com/company/neoen)** Debt · $1.3B *With* [Mizuho Capital](https://millionrounds.com/fund/mizuho-capital)
- **29** Oct **[Upwind](https://millionrounds.com/company/upwind)** Series C · $400M *With* [TCV](https://millionrounds.com/fund/tcv)

## Stages This Year

388 rounds

- Venture **22%**
- Debt **18%**
- Seed **15%**
- Series A **14%**
- Series B **10%**
- Other **21%**

## What They Backed

Sectors, last 12 months

- AI **95**
- Energy **32**
- Cleantech **17**
- Consumer Apps **16**
- Aerospace & Space **16**
- Big Data & Analytics **15**

## Cheques by Quarter

Led Joined

120 Q1 25

147 Q2 25

176 Q3 25

168 Q4 25

149 Q1 26

218 Q2 26

135 Q3 26

50 Q4 26

The last bar is the quarter still running.

## Lists Like This

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- [AI investors in United Kingdom 1,039](https://millionrounds.com/lists/ai-investors-in-united-kingdom)
- [Big Data & Analytics investors in United States 1,039](https://millionrounds.com/lists/big-data-investors-in-united-states)
- [Biotech investors in United States 914](https://millionrounds.com/lists/biotech-investors-in-united-states)
- [Energy investors in United States 798](https://millionrounds.com/lists/energy-investors-in-united-states)
- [Robotics investors in United States 797](https://millionrounds.com/lists/robotics-investors-in-united-states)
- [Construction investors in United States 742](https://millionrounds.com/lists/construction-investors-in-united-states)
- [Cybersecurity investors in United States 702](https://millionrounds.com/lists/cybersecurity-investors-in-united-states)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in b2b software and saas

- Lean B2B: Build Products Businesses Want Étienne Garbugli · 2014 4.16 from 249 ratings on Goodreads B2B software and SaaS About the book www.leanb2bbook.com « This is a must read for every B2B entrepreneur, SaaS creator or consultant and business school student. It's the kind of book you don't read once, you go back to it on a regular basis. » - Carmen Gerea, CEO & Co-founder, UsabilityChefs Lean B2B helps… On AmazonListen on Audible
- The Pricing Roadmap: How to Design B2B SaaS Pricing Models That Your Customers Will Love Ulrik Lehrskov-Schmidt · 2023 4.43 from 207 ratings on Goodreads B2B software and SaaS About the book "The definitive resource on SaaS pricing, I absolutely can not recommend this book enough." Viktor Heide, COO of Contractbook.com, Forbes "30 under 30" A foolproof method to achieve skyrocketing sales, growth, and profits for your software as a service (SaaS) product starts… On AmazonListen on Audible
- Integrity: The Courage to Meet the Demands of Reality Henry Cloud · 2006 4.22 from 3,393 ratings on Goodreads B2B software and SaaS About the book Integrity. It is more than simple honesty. It's the key to success. A person with integrity has the -- often rare -- ability to pull everything together, to make it all happen no matter how challenging the circumstances. Drawing on experiences from his work with Fortune 500… On AmazonListen on Audible
- Blueprints for a SaaS Sales Organization by Jacco vanderKooij Jacco van der Kooij · 2015 4.33 from 324 ratings on Goodreads B2B software and SaaS About the book Because of their very nature, SaaS companies live and die on revenue growth. And once the service is ready there is a very small window in which to scale. Missing that window is the difference between massive success and mediocrity. With such high stakes, it is crucial to get a… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&model=b2b_software).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about saaS investors in Japan

### Who are the most active saaS investors in Japan?

By cheques observed, the most active are Mitsubishi UFJ Capital, Mizuho Capital, Japan Finance Corporation, Incubate Fund and Mizuho Corporate Bank.

### How many saaS investors in Japan are there?

39 are on record. 92% made an investment in the last 12 months and 28% have led a round.

### Which stages do saaS investors in Japan back?

Of the rounds with a named stage in the last 12 months, mostly Debt (25%) and Seed (21%).

### How big are the rounds saaS investors in Japan join?

The typical (median) round among the leading investors here is $11M.

### Which sectors do saaS investors in Japan back most?

In the last 12 months, mostly AI, Energy and Cleantech.

### Which saaS investors in Japan lead the most rounds?

TCV (17 led), Coreline Ventures (2 led) and Mizuho Capital (1 led).

### Where are saaS investors in Japan based?

Among the most active, most are based in Japan (15), the United States (6) and Hong Kong SAR China (1).

### What have saaS investors in Japan invested in recently?

Recent rounds include Nealle (Series C, Nov 2026, with Keyrock Capital Management Limited), Pay2o (Seed, Nov 2026, with X Tech Ventures) and Fact Base (Series D+, Nov 2026, with MPower Partners).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)