Development Bank of Japan Inc. (DBJ) has decided to invest in OLtV Opportunity Fund Investment Limited Partnership (the OIST-Lifetime Ventures Opportunity Fund), established by Lifetime Ventures LLC (Lifetime Ventures), whose mission is to return OIST's research results and networks to society.
The OIST-Lifetime Ventures Opportunity Fund is a fund primarily dedicated for follow-on investment to startups invested in by the OIST-Lifetime Ventures Seed Fund, which was established by Lifetime Ventures last year and in which DBJ has invested.
The Okinawa Institute of Science and Technology (OIST) is a cross-disciplinary science graduate university founded in 2011 to advance the development of a world-class research, education, and innovation hub in Okinawa. OIST conducts cutting-edge research characterized by competitive recruitment and assessments processes, well-equipped research facilities and multi-year research fund allocations to faculty members. Since its establishment, OIST not only has continued to enhance its research and education activities but has actively promoted industry-academia collaborations.
Under the direction of new president Karin Markides, who was appointed in June 2023, OIST plans to further focus on private-public-academic collaboration. Through the additional follow-on investment from this Opportunity Fund following the seed fund, it is expected that OIST's research results will be implemented more seamlessly in society and the creation of startups will be accelerated.
These fund investment activities are DBJ's new attempt to combine academic collaboration with fund investment to collaborate with the know-how of the general partners and aim for a comprehensive solution that includes commercializing OIST research outcomes and accessing subsequent financial support.
DBJ believes that this initiative will contribute to the improvement of Japan's scientific and technological capabilities and the revitalization of the economy as a means of linking finance and capital, and as a means of efficiently and effectively implementing Japanese academia's research and technology in society. In this sense, this fund investment will be done from DBJ Startup Innovation Fund *1, which is a part of the Special Investment Operations *2. DBJ will work closely with OIST and Lifetime Ventures going forward.
DBJ will continue to actively support clients' efforts to develop markets, revitalize local economies, and strengthen competitiveness through Special Investment Operations for growth capital.
*1This fund was established to promote the creation and nurturing of startups and the development of innovation ecosystems under the "Special Investment Operations" category.
*2 Special Investment Operations, established as an intensive but temporary program to supply growth capital from the perspective of promoting the competitiveness of Japanese enterprises along with regional revitalization, draws only a portion of the investment (industrial investment account) from the Japanese governmentーenough to encourage the private sector to supply growth capital.
Inquiries:
Innovation Promotion Office, Business Planning & Coordination Department
Telephone: +81-3-6311-5048