Sparx Group establishes “Space Frontier Fund №2”

Sparx Asset Management, a subsidiary of Sparx Group, has established the “Space Frontier Fund №2” and Toyota Motor Corporation, MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Mitsubishi Heavy Industries, Sumitomo Mitsui Trust Bank, Development Bank of Japan, and Sparx will participate as investors. Following on from the Space Frontier Fund launched in June 2020, the aim is to support personnel and technology related to space development, foster globally competitive space companies originating from Japan, and further contribute to technological innovation in Japan as a whole.

Basic philosophy

• To contribute to accelerating innovation by investing in and fostering businesses with technologies or business models that could drive growth toward a future society
• To visualize and communicate to the world a “new force” for pioneering the future by building a portfolio of discovered companies

Intended functions

• To invest in and support the realization and growth of venture companies engaged in space-related businesses with excellent technologies or unique business models, as well as related projects that underpin the space industry.
• Through collaboration with the government and other industries, work to implement these technologies and services in society.

Overview

• Sparx Asset Management will serve as the fund operator, with a total investment of approximately 11 billion yen, and operations commenced in April 2024.
• Additional investments will be solicited from investors who endorse the fund’s purpose, with a target date of the end of September 2024.

Space Frontier Fund №2:

• Fund Name: Space Frontier №2 Investment Limited Partnership
• Investment Targets: Venture companies, projects, etc. engaged in space-related businesses with excellent technologies or unique business models
• General Partner: Sparx Asset Management
• Limited Partners: Toyota Motor Corporation, MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Mitsubishi Heavy Industries, Sumitomo Mitsui Trust Bank, Development Bank of Japan, Sparx Group
• Fund Size: Approximately 11 billion yen (as of April 26, 2024)
• Fundraising Target: 15 billion yen
• Additional Fundraising Period: End of September 2024 (planned)

About the Space Frontier Fund (№1 Fund)

• The №1 Fund commenced operations in June 2020 with a fund size of 9.2 billion yen.
• It has invested in and supported venture companies engaged in space-related businesses, including ispace Inc.

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