Insider Brief:
- SPARX Group has unveiled the establishment of the Space Frontiers Second Fund, an initiative.
- The new fund has already garnered support from seven companies, including Toyota Motor Corporation, MUFG Bank, Ltd., and Mitsubishi Heavy Industries, Ltd.
- Scheduled to commence operations in April 2024, the Second Fund boasts a capital backing of approximately JPY 11.0 billion.
SPARX has unveiled the establishment of the Space Frontiers Second Fund, an initiative. The new fund will be managed by SPARX Asset Management Co., Ltd. (SAM) and has already garnered support from seven heavyweight companies, including Toyota Motor Corporation, MUFG Bank, Ltd., and Mitsubishi Heavy Industries, Ltd.
The core principles for the Space Frontiers Second Fund revolve around accelerating innovation by investing in projects with technologies and business models geared toward shaping the future. By assembling a portfolio of companies discovered through the Fund, SPARX aims to showcase Japan’s pioneering capabilities on a global stage.
Targeting startups engaged in space-related businesses, the Second Fund seeks to support companies with superior technologies and unique business models. This support extends to projects underpinning the foundations of the space industry. The objective is to not only foster the growth of these companies but also to promote their technologies and services throughout society by collaborating with governments and other industries.
Scheduled to commence operations in April 2024, the Second Fund boasts a capital backing of approximately JPY 11.0 billion. Investors who align with the Fund’s purpose can subscribe until September 30, 2024, with the aim of reaching a subscription target of at least JPY 15 billion.
This initiative follows the success of the First Fund, which commenced operations in June 2020 with JPY 9.2 billion in capital. The First Fund supported startups engaged in space-related businesses, including ispace, Inc.
Image credit: SPARX Group
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