Asteria’s Corporate Investment Business to Start Soliciting Investors in October to Launch Second Fund
Press Release
Tokyo — Sept. 20, 2022 — Asteria Corporation (Japan listed, Security Code: 3853) announced today that it will start raising capital in October to launch a second fund of the Corporate Investment business, Asteria Vision Fund II L.P. (AVF-II).
Background and Objectives
The Asteria Group established an investment subsidiary, Asteria Vision Fund (AVF), in February 2019. In April of that year, the Group set up a $22 million investment fund, Asteria Vision FundⅠL.P. (AVF-I), drawing capital from Higo Bank as a limited partner*1 in addition to investments from the Group.
AVF-I has completed investments in six enterprises based on its “4D” focus domains — Data, Device, Decentralized, and Design — which are also Asteria’s research and development strategies. AVF-I has already achieved major results: among the portfolio companies, Gorilla Technology Group Inc. (“Gorilla”) went public on the Nasdaq in July 2022. The investment into Gorilla (1.3 billion yen) has grown to approximately 10.8 billion yen*2 valuation as of September 20.
Asteria Group therefore has decided to launch AVF-II to further accelerate its growth. AVF-II will begin soliciting investors in October 2022 with a mission to invest based on its “D4G” focus domains — Data, Device, Decentralized, Design for Green. It will form a $30 million to $40 million fund capitalized mainly by Asteria and also backed by several limited partners with an eye to starting investment activities in early 2023.
AVF-I has completed investments in six enterprises based on its “4D” focus domains — Data, Device, Decentralized, and Design — which are also Asteria’s research and development strategies. AVF-I has already achieved major results: among the portfolio companies, Gorilla Technology Group Inc. (“Gorilla”) went public on the Nasdaq in July 2022. The investment into Gorilla (1.3 billion yen) has grown to approximately 10.8 billion yen*2 valuation as of September 20.
Asteria Group therefore has decided to launch AVF-II to further accelerate its growth. AVF-II will begin soliciting investors in October 2022 with a mission to invest based on its “D4G” focus domains — Data, Device, Decentralized, Design for Green. It will form a $30 million to $40 million fund capitalized mainly by Asteria and also backed by several limited partners with an eye to starting investment activities in early 2023.
Overview of the Second Fund
New focus domains “D4G”
| Name | Asteria Vision Fund II L.P. |
|---|---|
| Managing Director | YOSHIDA Shinji（Managing Director） |
| Location | The U.S. state of Delaware |
| Planned launch date | January 2023 |
| Target | Focus domains “D4G” Data ：AI, Quantum Computing Device ：IoT, Wearable devices Decentralized ：Blockchain, Web3 Design ：Technology Bridge Green ：Sustainability |
| Planned Number of Portfolio Company | Around 20 companies |
| Fund Size | $30 million to $40 million |
| Investment Period | 10 years (from 2023 to2033) |
Reference : Portfolio Companies of AVF (arranged in a random order)
| Company | Main location | Business area |
|---|---|---|
| Gorilla Technology | Taiwan | AI (Edge computing) |
| Space X | United States | Rocket, satellite internet service |
| JPYC | Japan | Stablecoin |
| Workspot | United States | Remote desktop |
| Imagine Intelligent Material | Australia | Graphene & sensors |
| Not disclosed | Not disclosed | Not disclosed |
Impact on Business Performance and Future Outlook
Asteria expects that the impact of the formation of AVF-II on the Group’s financial performance for the fiscal year ending March 31, 2023, will be minimal.
Asteria plans to start investment activities with an eye to making a contribution to the performance in the medium to long term. We will disclose the specific financial impacts and other related information as necessary.
Asteria plans to start investment activities with an eye to making a contribution to the performance in the medium to long term. We will disclose the specific financial impacts and other related information as necessary.
*1: A partner who has no management authority and whose liability is restricted to the amount of his or her investment
*2: Assumption: 1 USD = 130 yen, the exchange rate that Asteria assumed for the full-year forecast.
*2: Assumption: 1 USD = 130 yen, the exchange rate that Asteria assumed for the full-year forecast.
For the press enquiries, please contact Masumi Koizumi of Asteria’s PR and IR department.
TEL: +81-3-5718-1297 / Mobile: +81-80-7716-9841 (Koizumi) / E-mail: press@asteria.com
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