Participated · Series F · Jan 2026

Rakuten Medical, founded in 2010 and headquartered in San Diego, develops photoimmunotherapy using its Alluminox® platform, which combines targeted drug conjugates and light-delivery devices. Its lead asset, ASP-1929 (an antibody-dye conjugate using cetuximab and IRDye® 700DX), is approved in Japan for unresectable locally advanced or recurrent head and neck cancer and is being evaluated outside Japan. ASP-1929 is currently in a global Phase 3 trial in combination with pembrolizumab as a first-line treatment for recurrent head and neck cancer, with the company aiming to generate pivotal data to support a planned BLA submission to the U.S. FDA in 2028. Rakuten Medical is enrolling patients across the U.S., Japan, Taiwan, and Ukraine, with Poland sites expected to activate soon. The company is expanding its pipeline through internal programs and investigator-initiated trials, and plans a Phase 1 study of RM-0256 in Japan expected to begin in Q2 2026 with Japanese government grant support. Rakuten Medical operates offices in the United States, Japan, Taiwan, Switzerland and India and continues to grow its commercial presence in Japan to support global expansion.

Led · Equity · Mar 2024

Ambit Finvest is a non-banking financial company within the Ambit Group focused on extending credit to small and medium-sized enterprises and underserved MSMEs. The firm has been investing in branch infrastructure and technological capabilities to broaden access to formal credit. Management says Ambit Finvest aims to capitalize on growth opportunities in India's NBFC sector and boost financial inclusion. The company has a renewed collaboration with Daiwa, with joint efforts that also target global institutional equities and equity capital markets clients. Leadership described the business as being at the cusp of a breakout in its trajectory. Recently secured equity funding is intended to support these strategic objectives.

Led · Equity · Mar 2024

Penguin Securities Holdings Pte. Ltd. operates a regulated investment platform that bridges crypto assets with traditional securities such as equities, bonds, ETFs and funds. After securing a Capital Markets Services (CMS) license, the company has built a unique position in Asia by providing both crypto-centric and conventional financial products to qualified and institutional investors. It initially focused on crypto-asset derivatives but now plans to develop hybrid investment products that combine digital assets with traditional instruments for differentiated returns. Future initiatives include launching a mobile app that automates account opening, KYC, trade instructions and balance checks by integrating in-house and vendor systems to speed up investment decisions. The firm is also enlarging its product lineup, strengthening its platform and organizational structure, and pursuing strategic partnerships as it expands into Japan through a newly established branch. Founded on 1 February 2023 and led by co-founder and CEO Kentaro Kawabe, the company has raised approximately ¥2.8 billion (about US$18 million) to date, fueling product expansion and market growth.

Participated · Series B · Mar 2021

SiCepat, founded in 2014, is an end-to-end logistics provider in Indonesia that began with last-mile deliveries for small merchants and has expanded to serve large e-commerce platforms. Its services now include warehousing and fulfillment, middle-mile logistics, and online distribution, positioning it across the supply chain. The company says it was profitable and reported it could fulfill more than 1.4 million packages per day in 2020. SiCepat plans to use new funding to further fortify its position in the Indonesian market and potentially explore expansion to other Southeast Asian markets, according to its CEO. The Indonesian logistics market is highly fragmented, which SiCepat and other startups are addressing amid rising e-commerce demand accelerated by the COVID-19 pandemic. Prior to this round, SiCepat disclosed a $50 million Series A in April 2019. Sicepat Ekspres is an Indonesian logistics startup that provides courier, warehouse, air and cargo delivery services and serves tens of thousands of online merchants. The company claims to deliver over 200,000 packages daily and currently operates 600 outlets nationwide. Sicepat aims to expand its physical footprint with a target of 200 drop points in Greater Jakarta this year and will add 50 drop points in Jakarta alone, plus more in major Javan cities including Bandung, Surabaya, Yogyakarta, Malang, and Semarang. The funding will also be used to add vehicles to its fleet to handle seasonal surges around Ramadan and Eid al-Fitr. Sicepat plans to accelerate its IT capability by developing a transport management system to monitor operations more quickly and conveniently. According to Crunchbase, the company has raised a total of USD 53.5 million across two funding rounds since its 2014 founding.

Led · Series C · Sep 2018

WHILL designs and sells high-tech personal mobility devices intended for both indoor and outdoor use. The company’s products include the less expensive Model Ci (called Model C in Europe and Japan) and compete with devices like iBot and Trackchair. WHILL is developing autonomous capabilities and building its own sensors and cameras to support a “mobility as a service” program that lets users summon and control vehicles via a mobile app. Key near-term plans include expanding into the EU (opening a branch and entering 10 new European countries) and deploying systems in large venues such as airports, shopping malls, and sports arenas. WHILL has tested an autonomous airport program in partnership with Panasonic and plans to pursue distribution partnerships with U.S. airlines and airports. In Japan the company has between 4,000 and 5,000 resellers, its devices are subsidized and available for rent, while U.S. customers often buy devices out-of-pocket. Whill produces high-tech motorized wheelchairs, notably the Model M and Model A. Its products use a patented wheel that enables tight turns on rough terrain and sloping surfaces. The company recently received FDA approval for the Model M, allowing it to be marketed as a medical device in the U.S. and enabling doctors to write prescriptions starting this summer. Whill plans to use Series B proceeds to market its devices in the U.S. and to enter the European market, and it launched an airport rental program last month. It is developing technologies for autonomous driving and remote management of its devices to differentiate from competitors. Founded four years ago in Tokyo and now headquartered in San Francisco, Whill has raised $30.2 million in venture funding to date. Whill makes personal mobility devices designed for indoor use and all-terrain outdoor travel, featuring All Direction 4WD and an advanced acceleration management system for full-range speed adjustment. The product line was founded and designed by former Toyota and Nissan industry experts and engineers and is led by CEO Satoshi Sugie. Whill plans to use recent funding to manufacture and expand distribution of its devices and to grow overall operations. The company has won recognition, including the TechCrunch Tokyo 2012 Grand Prize. Financially, Whill closed an $11M Series A to support its manufacturing and distribution expansion. Whill develops the WHILL, a next-generation electric personal mobility vehicle intended for sidewalks and for healthy users as well as mildly disabled or elderly people with difficulty walking. The company is based in Menlo Park, California and was founded in May 2012; it is led by CEO Satoshi Sugie. Whill received funding to continue development and production of its WHILL vehicle. The company plans an initial direct sale of 50 units to the US market, followed by sequential expansion into other countries including Japan. Backers named in the article include SunBridge Global Ventures (via SunBridge Startups), Itochu Technology Ventures, 500 Startups and WIngle Co., Ltd. The article did not disclose financial terms, revenue, or instrument types.