Lifetime Ventures (headquartered in Yokohama, Kanagawa Prefecture; General Partners: Ryosuke Kimura and Koshu Kunii) and the Okinawa Institute of Science and Technology (located in Onna Village, Okinawa Prefecture; President: Karin Markides; "OIST") are pleased to announce that the Okinawa Development Finance Corporation ("ODFC") and Development Bank of Japan Inc. ("DBJ") have invested in the OIST-Lifetime Ventures Opportunity Fund (the “Fund”).
The Fund, established in collaboration with OIST and managed by Lifetime Ventures, is primarily dedicated to follow-on investments in portfolio companies of the OLtV Seed Fund, which was established last year. With the support of ODFC and DBJ, the Fund aims to further the connections between OIST/Okinawa and the global startup ecosystem so as to activate as a new global innovation hub. Lifetime Ventures will further its support to portfolio companies, through the commercialization of OIST's outstanding research results and management support utilizing its network.
"We are grateful to have ODFC and DBJ as our long-term multi-level partners, and we are pleased to see their investment in the OIST-Lifetime Ventures Opportunity Fund," shared Gil Granot-Mayer, Executive Vice President of OIST Innovation. "The Fund will continue its valuable support for the growth of startups within OIST's ecosystem, creating new opportunities in Okinawa and Japan. Today, we mark another important step in our journey towards building a thriving innovation ecosystem on this wonderful island."
Ryosuke Kimura, Founding/ General Partner of Lifetime Ventures, expressed his enthusiasm as follows. “Prior to the establishment of this fund, we formed strategic partnerships: firstwith Interactive, which operates the top human resources website in Okinawa, and then with the Global Health Equity Fund, a WHO Foundation affiliated fund managed by OurCrowd, a leading VC platform in Israel. These partnerships strengthen the support structure available to our portfolio on a glocal (global and local) basis. Incubate Fund, one of the largest VC platforms in Japan and a backer of the Seed Fund, is a strategic partner to the Fund."
Overview of OLtV Opportunity Fund (the Fund)
The Fund mainly invests in the follow-on rounds of the early-stage startups leveraging OIST's research results and network and focuses on the following areas: Health & AgeTech (the convergence of technology with healthcare, medical care, nursing care, and aging), Future of Work (the transformation of the way of working using technology), Cross-border Japan (cross-border business using technology and internationalization of Japanese society), Sustainable Living (technology to realize a life in harmony with the global environment), Blue Economy (new marine industry to develop while protecting the health of the oceans) and aims to create and support deep-tech solutions that have a significant impact on the environment and society.
General Partner: Lifetime Ventures, LLC
Limited Partners: Development Bank of Japan Inc. and Okinawa Development Finance Corporation *As of June 30, 2023
About Lifetime Ventures
Lifetime Ventures is a Yokohama and Okinawa-based pre-seed/seed-focused venture capital firm that supports entrepreneurs aiming to create long-lasting businesses. Lifetime Ventures has invested in ~40 startups to date, including Rehab for JAPAN, an AgeTech company that re-designs the lives of the elderly through rehabilitation, and UUUO, a B2B platform company that creates new distribution and resource management models for the fishing industry.
About the Okinawa Institute of Science and Technology Graduate University (OIST)
OIST is an international graduate university dedicated to excellence in research and doctoral education in science and technology. It provides a truly interdisciplinary research environment and world-class facilities that encourage researchers to collaborate across scientific disciplines and explore new knowledge. The OIST Innovation aims to leverage OIST's unique resources to foster innovation, entrepreneurship, and the practical application and commercialization of science for the social and economic benefit of the region and the world.
About the Okinawa Development Finance Corporation
The Okinawa Development Finance Corporation (ODFC) is a government-affiliated financial institution established under the "Okinawa Development Finance Corporation Act" to provide centralized and comprehensive policy-based financing for Okinawa following the reversion of Okinawa to mainland Japan.
About Development Bank of Japan Inc.
A financial institution that provides financial services that integrate investment and financing under the corporate philosophy of "Designing the future with the power of finance".
About Incubate Fund
Established in 2010. Incubate Fund is a Tokyo-based seed-stage venture capital firm with over $840 million in assets under management that invests in early-stage startups and venture capital funds in Japan.