The Development Bank of Japan (DBJ) focuses its venture capital investments on innovative technologies and businesses, providing long-term support and financing primarily to seed to early-stage startups, with continued support through later stages. Their strategy includes backing impact funds, emerging domestic managers, and growth equity platforms targeting small and mid-cap businesses, with a particular interest in sectors like life sciences (biotech, pharmaceuticals, medical devices) and hydrogen value chain technologies for decarbonization.
33% of their portfolio is in Climate & Energy.
Portfolio
3
Fund Size
$34.3B
Top Stage
Series G
Last 12 Mo
0
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
3 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 TeraWatt Technology Inc. | Series C | — | Jun 2023 |
 Astroscale | Series G | $76M | Feb 2023 |
 iSTOX | Series A | $50M | Jan 2021 |
Top Co-Investors
Mitsubishi Electric1 shared
Mitsubishi Corporation1 shared
Rakuten1 shared
Temasek Holdings1 shared
Khosla Ventures1 shared
JIC Venture Growth Investments1 shared
Hanwha1 shared
Last updated: 16 April 2026