Mizuho Financial Group has raised JPY14.3bn ($97m) for its latest startup-focused fund, deepening its presence in Japan’s private credit ecosystem and expanding support for early-stage ventures, according to a report by Bloomberg.
The Tokyo-based institution announced the close of the fund, which it co-manages with payments startup Upsider Inc, on Wednesday. The vehicle secured backing from seven Japanese financial institutions, including Sumitomo Mitsui Trust Bank Ltd. and Fukoku Mutual Life Insurance Co.
This marks Mizuho’s continued effort to channel capital into Japan’s innovation economy. The new fund follows the duo’s previous JPY10bn growth-stage vehicle launched in November 2023, targeting startups with strong expansion potential.
The raise also signals Mizuho’s broader commitment to private credit, following its 2023 minority investment in Golub Capital, a US private credit manager. That move positioned the bank to tap into a global market that exceeded $2.1tn last year, according to the International Monetary Fund.
