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Kyoto University Innovation Capital (Kyoto iCAP) is a venture capital firm based in Kyoto, Japan, that invests in seed to early-stage startups commercializing research from Kyoto University and other national universities. The firm operates two closed funds, the Innovation Kyoto 2016 Fund, which had an initial size of $111 million, and the Innovation Kyoto 2021 Fund, expanding its reach beyond Kyoto University. Kyoto iCAP is currently preparing a third fund of $140 million, anticipated for launch in January 2026, with a focus on sectors like biotechnology, healthcare, energy, IoT, and AI. It also runs programs such as Entrepreneur-in-Residence (EIR-iCAP) to foster entrepreneurship and industry-academia ties. Key personnel include President and CEO Ko Kusumi, alongside investment leaders Masayoshi Obayashi and Nobuhiro Yagi, with portfolio examples like Stroly. The firm was established in December 2014, fully funded by Kyoto University.
Key people at Kyoto University Innovation Capital.
The firm acts as the General Partner for its venture funds, including KYOTO-iCAP Fund No.3 and KYOTO-iCAP Fund II.
Limited Partners in its funds have included corporations such as Astellas Pharma Inc. and financial institutions like The Senshu Ikeda Bank, Ltd.
The firm acts as the General Partner for its venture funds, including KYOTO-iCAP Fund No.3 and KYOTO-iCAP Fund II.
Limited Partners in its funds have included corporations such as Astellas Pharma Inc. and financial institutions like The Senshu Ikeda Bank, Ltd.
Key people at Kyoto University Innovation Capital.
Kyoto University Innovation Capital has 3 tracked investments across 3 companies. The latest tracked deal is Seed in LOOPARTS in January 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 30, 2026 | LOOPARTS | Seed | — | Akira Nagao, Hibiki Nishikawa, JIN Uehara, REN Uechi, Shohei Yamada |
| Dec 15, 2023 | Restore Vision | $13.2M Series A Extension | JIC Venture Growth Investments, Kyoto University Innovation Capital, Osaka University Venture Capital, Remiges Ventures | Japanese Agency For Medical Research And Development, Japan Science And Technology Agency |
| Nov 29, 2023 | QSimulate | $2.5M Other Equity | Niels Nielsen | UTokyo Innovation Platform |
Kyoto University Innovation Capital Co., Ltd. (KYOTO-iCAP) was founded in December 2014 as a venture capital company. It is structured as a 100%-funded subsidiary of Kyoto University, underscoring its direct connection to the university's research and innovation initiatives. This ownership model positions KYOTO-iCAP as a key entity in commercializing academic advancements.
The firm functions as the General Partner for its investment vehicles, managing funds such as KYOTO-iCAP Fund No.3 and KYOTO-iCAP Fund II. These funds are capitalized by various Limited Partners, which for KYOTO-iCAP Fund No.3 have included corporate entities like Astellas Pharma Inc. and financial institutions such as The Senshu Ikeda Bank, Ltd.
KYOTO-iCAP's operational focus extends to supporting startup creation and fostering entrepreneurial talent. Its activities are designed to identify and nurture promising ventures that emerge from the university's research ecosystem, aiming to translate scientific discoveries into viable commercial enterprises.
By providing capital and strategic support, KYOTO-iCAP plays a role in the broader venture ecosystem, particularly within Japan. Its mission aligns with promoting innovation and contributing to a sustainable society through the development of new technologies and businesses.
