Money Forward Venture Partners Secures JPY 6.7bn Interim Close for Third Flagship Fund
Money Forward Venture Partners, a venture capital subsidiary of Tokyo-listed FinTech firm Money Forward, has reached an interim close for its flagship HIRAC FUND No. 3 Investment Limited Partnership, raising total commitments to approximately ¥6.7 billion.
The interim closing added new institutional backing from The Aomori Michinoku Bank and Mizuho Securities, alongside follow-on commitments from existing limited partners, including The Bank of Iwate (returning from HIRAC FUND II) and Sumitomo Mitsui Trust Bank (reinvesting following its participation in the HIRAC FUND I Extension Fund). The Tokyo-based firm confirmed it will continue active capital-raising efforts toward an ultimate target exceeding ¥10 billion.
HIRAC FUND No. 3 targets domestic and international unlisted companies at the seed and early stages, with an emphasis on solving social challenges and driving regional economic vitality through technological innovation. Functioning as a strategic bridge, the fund aims to leverage the regional networks and balance sheets of its financial institution partners to support commercial tie-ups and nationwide expansion for its portfolio companies.
The fund will direct capital and hands-on growth assistance across seven core strategic sectors:
- Enterprise digital and AI transformation (B2B AX/DX)
- Industry-specific digital transformation
- Platform business models
- Japanese "soft power," including entertainment, food, and tourism
- Regional revitalization
- Healthcare and social welfare
- Deep technology and emerging frontiers, including artificial intelligence, robotics, and space technology
Fund No. 3 completed its initial first close on June 30, 2026, and deployed its first check in July 2026 to Mofuku Rescue, a startup operating 24-hour unmanned formalwear rental locations. The general partner plans to accelerate Mofuku Rescue’s nationwide footprint by partnering with regional financial institutions.
As of October 16, 2026, the fund's disclosed limited partner syndicate comprises a broad spectrum of Japanese regional lenders and corporate institutions, including The Aichi Bank, The Aomori Michinoku Bank, The Bank of Iwate, The Kiyo Bank, Kyoshin Social Capital, The Keiyo Bank, The San-in Godo Bank, The Chugoku Bank, The Tokushima Taisho Bank, Money Forward, Mizuho Securities, Sumitomo Mitsui Trust Bank, and The Yamanashi Chuo Bank, alongside undisclosed co-investors.
Norbert Gehrke
