Bridging Japan and Global Tech: Resona Bank Backs Cross Capital’s Global Startup Fund
Singapore-based investment firm Cross Capital is advancing toward the final close of its debut Fund of Funds (FoF), having secured new capital commitments from Resona Bank and packaging giant Toyo Seikan Group.
The newly formed partnerships bring the total number of corporate Limited Partners (LPs) in the Cross Capital I Limited Partnership (CC1) to seven, signaling strong domestic appetite for structured access to global innovation.
Solving the "Implementation Gap"
Launched in September 2024 with a 10-year operational horizon, Cross Capital was founded by Takaki Nakamura and Fumi Takashima to address a structural hurdle facing Japanese corporations: the high barrier to entry and low success rate of direct, early-stage venture capital investments.
To solve this, Cross Capital has pioneered what it terms an "FoF 2.0" model. Rather than pursuing standalone direct investments, CC1 allocates capital to top-tier growth-stage venture capital funds globally. This strategy provides its corporate LPs with diversified exposure to an estimated 2,000 global startups while minimizing the risks traditionally associated with corporate venture capital (CVC).
However, Cross Capital’s mandate extends beyond capital deployment. The firm acts as a "co-creation infrastructure" for its LPs, providing hands-on support for partner discovery, proof-of-concept (PoC) execution, commercial agreements, and the internal development of global business personnel.
Early Liquidity and Portfolio Expansion
According to the firm, CC1 has already finalized capital commitments to five prominent VC funds spanning the United States, Europe, Israel, and Southeast Asia. The firm plans to back an additional five funds before its final close.
Despite still being in its fundraising phase, the underlying portfolio is already generating liquidity events. A notable early win includes the acquisition of enterprise AI platform Cognigy—backed by CC1 portfolio fund Eurazeo—by the U.S. tech firm NICE. Cross Capital notes that this validates the fund's ability to generate tangible financial returns alongside strategic corporate value.
Strategic Motivations for Resona and Toyo Seikan
For the newly onboarded LPs, the investment is deeply tied to long-term corporate transformation.
Resona Bank, viewing the commitment through the lens of its broader corporate strategy, aims to leverage the fund to become the "No.1 Bank for Overseas Business Support." A senior executive from Resona’s International Business Division noted that by tapping into Cross Capital’s expansive global VC network, the bank intends to absorb cutting-edge technological insights and channel them back to its domestic enterprise clients, thereby catalyzing new business opportunities in Japan.
Similarly, Toyo Seikan Group Holdings views the partnership as a critical step in future-proofing its legacy business. Company President Nakamura emphasized that while the group has built a robust foundation in the packaging sector, sustaining long-term growth requires aggressively integrating new business models and advanced technologies sourced from the global startup ecosystem.
"Over the past few years, we have engaged in deep dialogues with both companies," said Takaki Nakamura, Co-Founder and CEO of Cross Capital. "Our shared desire to link the assets of Japanese enterprises with the world’s most outstanding startups is finally taking shape. We are committed to not just connecting companies, but to cultivating the human capital and systems necessary to continuously generate co-creation and foster a true culture of innovation."
With the addition of these two corporate heavyweights, Cross Capital enters the final phase of its fundraising, cementing its position as a vital conduit between traditional Japanese industry and global venture ecosystems.
Norbert Gehrke
