Cross Capital Launches Fund 1 and Initiates Open Innovation Program

Cross Capital is pleased to report that the first Closing of its Cross Capital I Limited Partnership (CC1) fund of funds has taken place. CC1 is designed to give Japanese corporate access to world-renowned venture capital funds and startups, promote collaboration and partnerships, and spur upskilling of personnel. In addition, Japanese companies are invited to use CC1 as an innovation bridge between Japan and the global startup environment. Founded by seasoned VC professionals boasting a combined 40 years of Venture Capital experience, Cross Capital is committed to leveraging the strength of open innovation to unleash Japan's potential. To that end, Cross Capital has set its sights on creating Japan's first open innovation platform dedicated to Japanese firms - in the form of a Fund of Funds (FoF). The FoF intends to back around 10 elite VCs from Europe, Israel, Southeast Asia, and the USA and has crafted collaborative ties with each one of them. Going through the approximate 1,800 firms in the VC's portfolio and their extensive connections, the FoF will search out encouraging startups who are either hoping to enter into the Japanese market or partner with Japanese companies, all the while proffering a direct assistance to both the CC1 LP investors and the startups. Corporate LPs of Cross Capital are given the opportunity to explore more than 10x startups with investment amounts that are typically 1/3–1/10 those of top-tier global VCs, and can also utilize Cross Capital's resources to develop the skills of their workforce. Moreover, Cross Capital will provide support throughout the 10-year fund life to help corporate LPs visualize their collaboration necessities, identify the right partners, create business models, initiate partnerships with startups, carry out Proofs of Concept and launch actual businesses, allowing the corporate LPs to complete their business transformation. Cross Capital is a system that facilitates corporations in gaining the competence and tools required for open innovation. It does this by providing access to a range of resources, including international personnel, international venture capital networks, and knowledge of working with start-ups. Be part of our Tokyo FinTech Publication and join hundreds of readers who come to us every day. Also, don't forget to register for our short weekly digest, the “Japan FinTech Observer”, on Medium or LinkedIn. If you decide to stay in Tokyo, or just make a stop here, please join us for the Tokyo FinTech Meetup. You can also find us on YouTube and LinkedIn.

Source: https://medium.com/tokyo-fintech/cross-capital-completes-1st-closing-of-fund-1-and-starts-operation-of-its-open-innovation-481bb3f5f199?source=rss------fintech-5