Alternative digital platform LUCA closes Pre-Series A Round at $2.7 million (JPY 400 million)

(Conversion rate used in this press release is US$1=JPY150)

LUCA Japan closed its Pre-Series A funding round in October by raising $2.7 million (JPY 400 million) from VCs and angel investors. This brings the cumulative raised amount since its inception to approximately $4.2 million (JPY 630 million).  

LUCA Japan aims for “Bridging the Gap in Alternative investment” and operates digital platform “LUCA”. LUCA provides digital access to alternative investments, including but not limited to private equity, real estate, hedge funds, and private credit. It is committed to providing world-class investment opportunities with simple and efficient solutions for broader investors in Japan and elsewhere. LUCA Japan launched its beta version of its digital platform in late November 2022, and launched its first fund product in April 2023. To reach out to eligible investors, LUCA Japan is building up relations with B2B partners, high net worth individuals and the family office community.  

Delight Ventures, a Japanese VC operating in Silicon Valley, California, led the Pre-Series A Round as the lead investor. The investors participated in this round consist of 4 individual investors and the following 5 VCs.

• Delight Ventures
• Mizuho Innovation Frontier
• FINOLAB
• QR Investment and Corbon Ventures
• Shizen Capital  

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Keiko Sydenham, CEO of LUCA Japan, said, “We are excited to have supportive investors both from independent VCs and CVCs of financial institutions, who are providing meaningful advice and support to grow our business as potential long-term strategic partners. We believe that alternative investing is a necessary piece for Japanese investors to achieve long-term wealth. Our digital solution will make this asset class more accessible for broader investors. We also aim to create to promote cross-border investment via digital solutions. The raised capital in this round will help realize our vision in diverse channels.  We are excited to work with the great VCs and investors.”  

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Mr. Dai Watanabe, Managing Partners of Delight Ventures, said, “Investment by alternative funds, particularly in businesses through Private Equity (PE) and Private Debt Funds, play a crucial role in the economic growth of various countries. Their importance is increasingly recognized, as business news reports indicate. The global trend of investors expanding their allocations in these sectors is understandable, given their strong track record and low correlation with other asset classes. However, it's undeniable that Japan's investment capital, especially from high-net-worth individuals and small to medium-sized institutional investors, has limited access to alternative assets compared to other developed countries. This situation results in a significant lag in the diversity of investment opportunities in the country.

In this context, the management team of LUCA Japan, led by Ms. Sydenham, is poised to bring transformative changes. With their extensive experience in alternative investments and technology, they are expected to significantly impact the formation of Japan's national wealth. From the first time I met Ms. Sydenham, her enthusiasm and insight deeply impressed me, leading me to decide to offer an investment. As Delight Ventures, being involved with this exceptional team is a great honor, and I eagerly anticipate our collaboration.”

Mr. Junichi Ikeda, CEO of Mizuho Innovation Frontier, said, "LUCA's digital platform opens up alternative investments that were previously limited to selective investors. We have high expectations for LUCA's leadership in expanding the choice of alternative investments for a broad range of investors and look forward to future business expansion through our collaboration."  

Mr. Fumio Hamano, QR Investment Co., Ltd., President and CEO, Co-GP of Hokuriku Regional Venture Fund: "While the Hokuriku region is characterized by affluent households with a high rate of homeownership, the concept of 'investment' beyond savings is just beginning to take hold. LUCA's digital platform has the potential to transform individual investors into participants in alternative investments, shifting from savings to investment. We hope to promote the democratization of alternative investments and improve the return on investment for household financial assets, which have reached JPY 2000 trillion ($13.3 trillion)."

Mr. Matsukane Imai, Shizen Capital LLC, said "Japan is already experiencing the generational transfer of the capital assets at the unprecedented scale. LUCA is a pioneering platform offering alternative investment products to the next generation, and we are delighted to be part of the support."

Ms. Chie Ito, President and CEO at FINOLAB Co., Ltd., said "We have been supporting LUCA since its early days. Our vision is to provide investment opportunities in alternative investments to a wide range of Japanese investors. LUCA has successfully launched its alternative investment funds and is steadily increasing its user and partner companies. We look forward to closely witnessing LUCA's growth. Although there are challenges to overcome, we will continue to offer full support."