Newmo announced that it expects to receive ¥1.5 billion in funding from group of investors
February 14, 2024
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Newmo announced that it has entered into agreement round of funding on February 15, 2024.
On same date, the company receives ¥1.5 billion in an equity round of funding on its first tranche. The transaction will include participation from new investors Mercari, Inc, Michinori Holdings, Inc., ANRI, B Dash Ventures Inc., Coral Capital, DCM Ventures Inc., Eight Roads Ventures Japan, Globis Capital Partners Co., Ltd., Headline Asia, Incubate Fund, W Fund, Keio Innovation Initiative Inc., JAFCO Group Co., Ltd., HIRAC FUND and individual investors. The company will receive funding through third-party allotment of capital. The transaction is expected to close in February 2024.
JAFCO Group Co Ltd, formerly JAFCO Co Ltd, is a Japan-based company engaged in venture investment and buyout investment business through fund management. The Company operates Fund Management business segment. The Funds are recruited from institutional investors and operating companies about once every three years. The Company also invests its own funds in all funds and commits itself to improving fund performance. The main sources of revenue are capital gains through fund investments, fund management fees, and performance fees. The Company operates business in Japan, the United States, Asia and other countries.