Participated · Convertible Note · Jul 2026

Rege Nephro is developing therapies for kidney disease and is advancing a clinical pipeline in the renal space. The company is preparing for clinical trials and is using interim financing to accelerate R&D and pipeline advancement. Its recent bridge financing is intended to extend cash runway and de-risk near-term development milestones ahead of a larger Series C. Rege Nephro says this capital raise is part of a longer-term strategy to strengthen its position in renal therapies. The company plans to pursue a Series C in autumn 2026 and beyond as it progresses clinical and development activities.

Participated · Equity · Jul 2026

Starlight Engine was established in April 2025 as a group company of Kyoto Fusioneering and is focused on advancing fusion energy through its FAST project. FAST is a privately led, industry–academia initiative that adopts a tokamak configuration and aims to demonstrate fusion power generation in the 2030s by generating and sustaining D–T burning plasma and demonstrating integrated power generation and fuel-cycle systems. The project has completed its conceptual design and is currently moving into engineering design and construction preparations. SLE is coordinating with leading fusion researchers and a wide set of private-sector partners and universities to develop the project and domestic supply chains. The company plans to use newly raised funds to accelerate engineering and technology development, site selection, regulatory processes, supply chain development, and organizational expansion. SLE intends to grow its headcount to about 200 employees over the next two years as it advances toward fusion power demonstration and future commercial plants.

Participated · Series B · Apr 2026

Restore Vision is developing optogenetics-based gene therapies, notably its lead program RV-001 which introduces a proprietary light-sensor protein called Chimera Rhodopsin into retinal interneurons via AAV intravitreal injection. The approach targets retinal diseases such as retinitis pigmentosa where photoreceptors have been lost. The company has completed first patient administration in a Phase I/II clinical trial of RV-001 at Keio University Hospital. Restore Vision plans to advance global clinical development of RV-001 and to pursue research and development of a second pipeline. Financially, the company has raised approximately ¥3.5 billion in equity to date and received about ¥2.1 billion in AMED grants, totaling roughly ¥5.8 billion in funding, with potential for an additional ¥4.5 billion through the AMED project.

Participated · Seed · Dec 2025

LEP is an Osaka-based biotechnology startup developing self-illuminating plants that can serve as a new, energy-free light source. The company combines proprietary gene technology, light-intensity control, and color-conversion techniques originating from Osaka University and NAIST patents to produce what it calls “living light.” In April, the team showcased a glowing plant tea-room installation at the Osaka-Kansai Expo, drawing significant domestic and international attention. LEP’s vision is to replace part of the 15% of global energy now consumed by conventional lighting with sustainable, soothing plant-based illumination. The firm targets indoor and outdoor applications that deliver both aesthetic appeal and CO₂ reduction. Fresh capital will be used to launch an exhibition service employing luminous plant cells, create new glowing plant varieties, and hire talent for business expansion. The recent ¥160 million seed infusion strengthens its R&D and commercialization efforts, though the company has not yet disclosed revenue or user numbers.

Participated · Seed · Mar 2025

RegCell has developed a proprietary epigenetic reprogramming platform to generate stable, antigen-specific regulatory T cells (Tregs) intended to restore immune tolerance in autoimmune diseases and transplantation. The platform emphasizes epigenetic (non‑genetic) reprogramming to simplify manufacturing, enhance safety, and enable scalable production versus genetic modification approaches. RegCell plans to initiate a first-in-human clinical trial in 2025 for an antigen-specific autoimmune indication. Financially, the company closed an oversubscribed $8.5M seed financing and was awarded up to $37.3M (¥5.6 billion) in non-dilutive funding from Japan’s AMED to support IND-enabling studies, GMP optimization, and clinical proof-of-concept in the U.S. The company completed a strategic transition to a U.S.-based corporation with newly established U.S. headquarters in Emeryville, Calif., while continuing core scientific operations in Japan. RegCell is led by CEO Dr. Michael McCullar and was founded on discoveries by Professor Shimon Sakaguchi.