NewsPress release

Asteria’s Corporate Investment Business to Start Soliciting Investors in October to Launch Second Fund

Press Release
Tokyo — Sept. 20, 2022 — Asteria Corporation (Japan listed, Security Code: 3853) announced today that it will start raising capital in October to launch a second fund of the Corporate Investment business, Asteria Vision Fund II L.P. (AVF-II).

Background and Objectives

The Asteria Group established an investment subsidiary, Asteria Vision Fund (AVF), in February 2019. In April of that year, the Group set up a $22 million investment fund, Asteria Vision FundⅠL.P. (AVF-I), drawing capital from Higo Bank as a limited partner*1 in addition to investments from the Group.
AVF-I has completed investments in six enterprises based on its “4D” focus domains — Data, Device, Decentralized, and Design — which are also Asteria’s research and development strategies. AVF-I has already achieved major results: among the portfolio companies, Gorilla Technology Group Inc. (“Gorilla”) went public on the Nasdaq in July 2022. The investment into Gorilla (1.3 billion yen) has grown to approximately 10.8 billion yen*2 valuation as of September 20.
Asteria Group therefore has decided to launch AVF-II to further accelerate its growth. AVF-II will begin soliciting investors in October 2022 with a mission to invest based on its “D4G” focus domains — Data, Device, Decentralized, Design for Green. It will form a $30 million to $40 million fund capitalized mainly by Asteria and also backed by several limited partners with an eye to starting investment activities in early 2023.

Overview of the Second Fund

Image of New focus domains D4G
New focus domains “D4G”
NameAsteria Vision Fund II L.P.
Managing DirectorYOSHIDA Shinji(Managing Director)
LocationThe U.S. state of Delaware
Planned launch dateJanuary 2023
TargetFocus domains “D4G”
Data :AI, Quantum Computing
Device :IoT, Wearable devices
Decentralized :Blockchain, Web3
Design :Technology Bridge
Green :Sustainability
Planned Number of Portfolio CompanyAround 20 companies
Fund Size$30 million to $40 million
Investment Period10 years (from 2023 to2033)

Reference : Portfolio Companies of AVF (arranged in a random order)

CompanyMain locationBusiness area
Gorilla TechnologyTaiwanAI (Edge computing)
Space XUnited StatesRocket, satellite internet service
JPYCJapanStablecoin
WorkspotUnited StatesRemote desktop
Imagine Intelligent MaterialAustraliaGraphene & sensors
Not disclosedNot disclosedNot disclosed

Impact on Business Performance and Future Outlook

Asteria expects that the impact of the formation of AVF-II on the Group’s financial performance for the fiscal year ending March 31, 2023, will be minimal.
Asteria plans to start investment activities with an eye to making a contribution to the performance in the medium to long term. We will disclose the specific financial impacts and other related information as necessary.

*1: A partner who has no management authority and whose liability is restricted to the amount of his or her investment
*2: Assumption: 1 USD = 130 yen, the exchange rate that Asteria assumed for the full-year forecast.


For the press enquiries, please contact Masumi Koizumi of Asteria’s PR and IR department.
TEL: +81-3-5718-1297 / Mobile: +81-80-7716-9841 (Koizumi) / E-mail: press@asteria.com

Asteria is a registered trademark of Asteria Corporation.
Company names used herein are trademarks or registered trademarks of their respective companies.

Concluded.
Posted: Sep 20, 2022 16:00

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