The Venture Codex

Participated · Series A · Jun 2026

Tokenz provides a one-stop MoR platform for digital content providers—game companies, video streaming, manga, and app publishers—handling payments, VAT/GST compliance, invoicing, billing, and customer support. The platform supports over 200 payment methods and offers multi‑language support and country-specific tax processing. Tokenz has secured early commercial adoption with customers including Bushiroad’s HUNTER×HUNTER NEN×SURVIVOR and WonderPlanet’s Crash Fever, and has an alliance to power app‑external payments for Game8 Store. Since beginning service in the latter half of 2024, the company plans to deepen product capabilities such as AI-driven fraud detection and tax optimization, expand its global support footprint, and scale hiring in the payments and FinTech domain. Tokenz was founded in March 2024 and is headquartered in Chiyoda, Tokyo, with Lin Po-Huan as CEO.

Participated · Series A · Apr 2026

Ricerca develops RECERQA, described as an Agentic ERP that optimizes order placement and processing through autonomous data normalization and AI-driven decision support. The system uses a four-tier architecture called "Quattro" to normalize operational data and leverage accumulated data to support business decision-making and execution. Ricerca says that as more operational data is collected post-implementation, the AI's decision accuracy improves and the need for human verification declines. The company recently revamped its system to emphasize Agentic ERP characteristics distinct from conventional ERPs. Ricerca plans to expand its commercial rollout to major manufacturing and trading companies while scaling its team, prioritizing hires of AI engineers and forward-deployed engineers (FDEs). Financially, the company has raised ¥1.7 billion in Series A funding, with total financing exceeding ¥2 billion to date.

Participated · Series A · Feb 2026

CommerceX Holdings develops and operates RECORE, a cloud-based core system that unifies POS, inventory, EC integration, logistics, and analytics for retail and reuse businesses. RECORE lets merchants list, synchronize inventory, and manage orders across seven e-commerce malls—including Rakuten Ichiba, Yahoo! Auctions, and Mercari Shops—while also handling in-store transactions. The platform serves more than 400 companies and has processed a cumulative ¥480 billion in GMV, with some customers reporting up to 10-fold sales growth after M&A initiatives. Formed on 1 October 2025 through the integration of NOVASTO and Sobani, the holding company also oversees the Sobani and Yuhaku brands. CEO Shuhei Sato plans to deepen product capabilities and pursue additional acquisitions, targeting ¥18 billion in annual revenue within five years. The firm is positioning itself for an eventual IPO and has just raised significant capital to fund these ambitions.

Participated · Series A · Nov 2025

Pie Systems develops PIE VAT, a software platform that digitizes duty-free tax refunds while using the resulting data and network to link travelers with retail and hospitality businesses. The company positions itself as a broader "travel platform" that can redefine the shopping experience for inbound tourists and open new marketing channels for merchants. Originating in Japan, Pie Systems sees vast headroom in the inbound travel market, which it notes is second only to the automotive sector in size. By streamlining VAT refunds and aggregating transaction data, the firm aims to drive higher tourist spending and deliver actionable insights to partners. Pie Systems recently secured a USD 15.5 million Series A round, the only publicly disclosed financial metric to date. The fresh capital is intended to accelerate growth and expand the platform’s global footprint. To support this expansion, the company is actively hiring and seeking additional corporate partners.

Participated · Series C · Oct 2025

Shippio operates a cloud-native platform designed to digitalize and simplify international logistics workflows for shippers, forwarders, and other supply-chain stakeholders. Its software automatically updates shipment status, quotations, and orders while centralizing trade documents, invoices, and communication in one interface. Integrated cargo tracking and data analytics help customers gain real-time visibility and optimize decision-making. The company positions itself as a digital transformation layer for global trade, aiming to connect fragmented logistics processes end-to-end. Following its Series C round, Shippio has amassed roughly ¥7 billion in total funding. Management intends to use the new capital to accelerate product development, pursue strategic M&A opportunities, and grow headcount to about 300 employees. The firm’s long-term vision is to advance international logistics through continuous digital innovation.