The final closing of Remiges BioPharma Fund achieved raising a total $80 million
Remiges Ventures, a US-based cross-border venture capital firm with offices in Cambridge, Massachusetts and Tokyo, Japan, announced today the final closing of its debut fund, Remiges BioPharma Fund raising a total $80 million by welcoming the new investor, UTokyo Innovation Platform (UTokyo IPC Tokyo, Japan), a strategic investment arm of the University of Tokyo. The other investors for the fund include Sumitomo Dainippon Pharma Co., Ltd. (Osaka, Japan), Taiho Pharmaceutical Co., Ltd. (Tokyo, Japan) and 1Globe Capital, LLC (Cambridge, MA).
"We are extremely pleased with this major achievement – to close our first fund with two major Japanese pharma companies, a prominent US investor, and the top ranked university in Japan,” commented Taro Inaba, Founder and Managing Partner of Remiges Ventures. “The team is delighted to be working under our unique cross-border venture capital model to build disruptive companies by bridging Japanese technology seeds and global medical needs.”
Remiges Ventures focuses on investments in early stage drug discovery and development companies. With its team living locally in the US and Japan, Remiges Ventures understands intimately drug discovery and biotech environments in both regions and marries entrepreneurship and a biotech ecosystem derived from its US experience with Japan’s rich life science innovation at the academic level. Additionally, with a limited partner base that includes Japanese and US investors, big pharma companies and a major university in Japan, Remiges Ventures possesses a unique vantage point from which to create and mine opportunities at the big pharma-academia cross-section. Specifically, with UTokyo IPC, Remiges is creating a new model for success by working to build innovative and globally competitive start-up companies based on the scientific discoveries of the University of Tokyo.
The first closing of the fund took place back in June 2014 involving the three investors including Sumitomo Dainippon Pharma, Taiho Pharmaceutical, and 1Globe Capital.
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