Development Bank of Japan Inc. ("DBJ") has entered into an investment agreement with MPI-3 Investment Limited Partnership ("the Fund"), which is managed by MedVenture Capital Management, Inc.
MedVenture Capital Management, Inc. is a venture capital firm established for the purpose of investing in startup companies developing innovative medical devices, mainly in Japan and the U.S. Since 2013, the team members, most of whom have experience in the medical device industry, have been leveraging their knowledge of medical devices and investment experience to identify outstanding startup companies and provide hands-on support to portfolio companies. The Fund is the third for this team and is intended to create new industries by promoting open innovation through risk money supply and collaboration.
DBJ previously invested in the second fund managed by this team. By investing in the Fund, DBJ will further develop its collaboration with MedVenture Capital Management, Inc. and provide continuous growth capital to the Japanese life science ecosystem in order to support the development of innovative medical devices that can transform patients' lives.
DBJ believes that this investment enabling portfolio companies to achieve innovation will contribute to the improvement of the competitiveness of Japanese companies and the revitalization of the startup ecosystem. In this regard, DBJ will make the investment through the DBJ Startups and Innovation Fund*1, which is part of Special Investment Operations*2.
DBJ will continue to actively support clients' efforts to develop markets, revitalize local economies, and strengthen competitiveness through Special Investment Operations for growth capital.
*1 DBJ Startups and Innovation 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--enough to encourage the private sector to supply growth capital.
Inquiries:
Healthcare Industry Office Corporate Finance Department, Division 6
Telephone: +81-3-3244-1730