Development Bank of Japan Inc. ("DBJ") has entered into an investment agreement with Fast Track Initiative 4th Investment Limited Partnership ("the Fund"), which is managed by Fast Track Initiative, Inc.
Fast Track Initiative, Inc. ("the Firm") is a life sciences-focused venture capital firm with a mission of "Capital for Life," investing in pharmaceuticals, medical devices, and healthcare services. Since its establishment in 2004, the Firm has leveraged its deep scientific expertise in the life sciences field and its domestic and international networks to invest in and provide hands-on support to startups in the life sciences sector. In 2019, the Firm opened an office in Boston, USA, to expand its local network and support the overseas expansion of its portfolio companies. The Fund is the 4th fund managed by the Firm and aims to create new industries by promoting open innovation through the supply of risk capital and collaboration.
DBJ has supported the Firm since its inception through investments in its existing funds. By investing in the Fund, DBJ aims to further develop its collaboration with the Firm and support the development of innovative drug discovery and other advancements that can enhance people's lives and well-being, while also working to revitalize Japan's life sciences ecosystem.
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 is a fund established to prioritize investment in 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