Japan’s Dai-ichi Life Insurance has invested 1 billion yen (US$6.45 million) in a venture fund managed by local investment firm Boost Capital.
The Boost Capital No. 1 Investment Limited Partnership primarily invests in Japanese information technology startups.
Dai-ichi Life has now invested a total 44.4 billion yen in venture funds managed by Japanese asset managers.
According to the company, it has been actively investing in venture funds for many years as part of efforts “to diversify and enhance asset management styles aimed at acquiring long-term, stable financial return”.
“We have used this knowledge to invest in even early-stage management companies based on a comprehensive evaluation that includes not only their track record, but also their management systems, philosophies, and the appropriateness and originality of their investment method,” Dai-ichi Life says in a statement on November 16.
“As a responsible investor, we will continue to support the development of the startup ecosystem, which will lead to the realisation of Japan as a leading asset management centre,” the company adds.
Tokyo-based Dai-ichi Life had around 34.55 trillion yen of assets as of June 2024.
