Money Forward's venture arm hits $42.4M interim close on third fund
What's the deal? Money Forward Venture PartnersDealroom has a profile for this one. Try Dealroom →, a wholly owned subsidiary of Japan's Money Forward, has completed an interim close of its third fund, HIRAC FUNDDealroom has a profile for this one. Try Dealroom → III, bringing the total to roughly US$51.5M. The venture fund backs seed- and early-stage private companies in Japan and abroad.
Who's backing it? New limited partners Aomori Michinoku BankDealroom has a profile for this one. Try Dealroom → and Mizuho SecuritiesDealroom has a profile for this one. Try Dealroom → joined the round. Returning investors include Iwate BankDealroom has a profile for this one. Try Dealroom →, which has backed HIRAC since Fund II, and Sumitomo Mitsui Trust BankDealroom has a profile for this one. Try Dealroom →, an LP since the firm's first extension fund.
Why now? The interim close follows the fund's first close, completed on June 30, 2026. The firm says it will keep raising, targeting a final size of more than US$76.9M.
What's the endgame? HIRAC invests in startups using technology to tackle social problems and revitalise local economies. It positions itself as a hub connecting its financial-institution and corporate LPs with portfolio companies to support business tie-ups and regional expansion.
The firm is already deploying Fund III capital. In July 2026, it made its first investment from the fund in Mofuku RescueDealroom has a profile for this one. Try Dealroom →, which runs 24-hour unmanned stores renting mourning attire, with plans to help scale it nationwide through regional bank partnerships.
What's in focus? Fund III concentrates on seven themes: business-facing AX and DX, industry-specific DX, platforms, Japanese soft power across entertainment, food and tourism, brand businesses, healthcare and welfare, and emerging technology including AI, robotics, deep tech, and space.
The signal: The LP base — stacked with regional banks such as Iwate, KiyoDealroom has a profile for this one. Try Dealroom →, Chugoku, and Yamanashi ChuoDealroom has a profile for this one. Try Dealroom → — shows how Japan's local financial institutions are using venture funds to plug into startup growth beyond Tokyo. For Money Forward, the strategy ties regional networks to young companies in a bid to grow both.
Read more: prtimes.jp
Image credit: OiMax
