Participated · Series B · Feb 2024

Oishii operates large-scale indoor vertical Smart Farms that combine robotics, automation and Japanese farming techniques to grow pesticide-free, Non-GMO strawberries year-round. Founded in 2016, the company has expanded distribution across 18 U.S. states and launched retail in Toronto as its first international market. Oishii has broadened its product portfolio from ultra-premium Omakase Berries to the Koyo and Nikko Berry lines and introduced new pack sizes and formats with retail prices spanning roughly $4.99 to $15 and premium offerings at higher price points. The company has invested in automation and engineering capability, including the 2025 acquisition of Tortuga AgTech and a strategic partnership with MISUMI Group, and is developing an Open Innovation Center in Tokyo to advance R&D. Financially, Oishii has raised $370 million to date and is using new Series C proceeds to scale production, expand farm infrastructure, integrate more robotics, and develop new product formats.

Participated · Seed · Nov 2023

VCCT develops cell therapy treatments for retinal diseases, building on CEO Masayo Takahashi’s leadership of the world’s first iPS cell–derived retinal transplantation clinical study in 2014. The company has conducted multiple clinical studies in collaboration with Kobe City Eye Hospital and is focused on ex vivo and in vivo ocular cell-therapy solutions. VCCT is participating in a METI-selected consortium to develop infrastructure for regeneration, cell, and gene therapies, and will lead efforts on automated cell production, quality-information management, and patient-selection systems. The company aims to establish an end-to-end supply chain and a viable business model for regenerative medicine, pursue clinical demonstration, and move toward full-scale commercialization in Japan. VCCT also plans global development of its therapy products and is preparing to raise further funds from international investors. Financially, VCCT has raised equity and debt to support these activities and continues to accelerate development with strategic partners.

Participated · Series B · Aug 2023

PowerX builds and manufactures large-scale battery storage systems and EV charging infrastructure, and is developing electric transport ships and renewable power supply services. The company is constructing a large-scale battery factory called “Power Base” in Tamano, Okayama; the module factory building was completed on August 15, 2023, with equipment installation and trial operations planned by year-end. PowerX has secured product adoption for grid-scale battery systems and is supplying systems to projects including TENOHA Higashimatsuyama and new utility-scale storage sites in Ota and Isesaki. Its Hypercharger EV ultra-rapid chargers (Standard and Compact) obtained CHAdeMO 2.0.1 certification and will be deployed at the company’s charging stations. PowerX reported a cumulative funding total surpassing ¥15.2B and had ¥13,865 million in capital (including capital reserve); the company had 92 employees as of August 2023. Founded in March 2021 and headquartered in Minato-ku, Tokyo, PowerX is pursuing partnerships and deployments to scale storage and renewable integration across Japan. PowerX designs and manufactures large-format battery products and an ultra-rapid EV charger called "Hypercharger." The company has established a wholly owned manufacturing subsidiary, PowerX Manufacturing (PXM), to produce battery-related products. It is building a large battery assembly factory called "Power Base" in Tamano, Okayama, with the manufacturing building expected to be completed in August and trial operations planned by year-end. PowerX has begun component or pilot manufacturing at a partner factory in Tokushima and installed a Hypercharger test unit in Aoyama with public trials for EV owners soon to start. The company plans a summer commercial service launch for its EV charging business and aims to open 10 urban sites in Tokyo by year-end. PowerX says it intends to scale Power Base’s battery module manufacturing capacity to up to 10 GWh per year as part of its growth plans. PowerX develops and manufactures grid-scale battery systems and EV charging equipment, including the Hypercharger ultra-fast, battery-backed EV chargers. The company is building a large battery factory called “Power Base” in Tamano, Okayama, and is rolling out its storage products for grid and commercial customers. It has secured commercial adoption for system deployments with projects such as TENOHA Higashimatsuyama and new battery stations in Gunma by Olympia. PowerX is pursuing partnerships to develop renewable generation and storage jointly with West Group, targeting 200 MWh of storage and 30 MW of solar by spring 2025, and is exploring electric transport-ship and port use cases with Muroran. The company plans to use the newly raised funds for battery R&D and for purchasing manufacturing equipment for Power Base. As of this round, PowerX’s cumulative fundraising totals about ¥15.26 billion.

Led · Equity · Nov 2017

Transphorm, Inc. announced that it expects to receive $23 million in funding from KKR Phorm Investors L.P. and other investors. The company said it entered into a series of securities purchase agreements with nine accredited investors, including KKR Phorm Investors L.P. The agreements cover the sale of 4,600,000 shares. The financing is structured through those securities purchase agreements. The announcement identifies KKR Phorm Investors L.P. by name and refers to eight additional accredited investors without naming them. No further transaction terms were provided in the text. Transphorm develops and sells high-voltage GaN semiconductor families that serve as building blocks for power converters and inverters. Its GaN products switch faster than silicon, offering higher efficiency, greater system power density and reduced system size. The company highlights JEDEC and AEC‑Q101 qualifications and a large IP portfolio, positioning its devices as high‑quality, high‑reliability solutions. Transphorm cites customer adoption across power adapters/fast chargers, data‑center power supplies, communications infrastructure, industrial applications and growing interest from automotive EV suppliers. Management says the company will use new equity financing to support and accelerate product development, manufacturing, and sales of its GaN power solutions. The company operates a vertically integrated device business model covering epitaxy, design, process and application support. Market commentary in the release cites an accessible GaN TAM of approximately $3.1 billion in 2024 and an external Yole Développement estimate that GaN power device revenues may approach $400 million by 2023. Transphorm is a global semiconductor company leading the GaN revolution with highest-performance, highest-reliability 650V GaN devices for high-voltage power conversion applications. The company deploys a vertically integrated business approach covering design, fabrication, device and application support and claims an IP portfolio of over 600 patents. Transphorm produces the industry’s only JEDEC- and AEC-Q101-qualified GaN FETs and positions its technology to deliver over 99% efficiency, 40% more power density and 20% lower system cost versus silicon. Target markets include servo motors, automotive systems, data center and industrial power supplies, renewable energy, and other broad industrial applications. Transphorm recently received a $15 million investment from Yaskawa Electric and intends to allocate the funds to various areas of its GaN product development. The company’s technology has been co-developed with Yaskawa, whose integrated Σ-7 F servo motor relies on Transphorm’s high-voltage GaN. Transphorm is an early-stage semiconductor company based in Goleta, Calif., focused on redefining electric power conversion using gallium nitride (GaN) devices and modules. Its core products are ultra-efficient GaN-based power devices and modules that the company says can eliminate more than 40% of electric conversion losses and achieve up to 98% efficiency in data center and telecom applications. Transphorm targets applications including PV inverters, data centers, power supplies, motor drives and automotive systems, and its technology enables roughly 50% smaller residential PV inverters up to 5 kW. The company has strategic partnerships with Yaskawa Electric and Tata Power Solar, and a manufacturing partnership with Fujitsu Semiconductor for production in an automotive-class wafer fab. Transphorm will use the new funding to support growth, product innovation and expansion. The article emphasizes Transphorm’s position as a source of production-volume GaN products that could replace silicon in high-voltage applications and reduce energy waste globally. Transphorm has developed GaN (gallium nitride) power-conversion technology and is the first company to commercialize high-voltage GaN for manufacturers and enterprises. Its core product is next-generation GaN power devices intended to reduce energy waste across applications from servers and solar panels to HVACs and hybrid vehicles. The company announced a strategic manufacturing alliance with Nihon Inter Electronics Company to mass-produce its next-generation GaN devices. Transphorm is pursuing commercialization and scaling of its technology, supported by strategic investors and manufacturing partners in Japan. Financially, the company has raised a total of $104 million to date and has just closed a $35 million Series E. The funding and alliances signal a strategic turn toward Japan and industrial-scale production.