Japan Energy Fund (JEF) is a Tokyo-based venture capital firm that invests in promising climate tech and decarbonization solutions globally, with a focus on US and European startups that have potential to scale in Japan. Managed by Japan Energy Capital and backed by ENECHANGE Ltd., the firm targets growth-stage companies (primarily Series B or beyond) developing technologies such as battery storage, offshore wind, virtual power plants, and demand response.
53% of their portfolio is in Climate & Energy. They made 1 investment in the last 12 months. Average disclosed round size is $89.1M (across 13 rounds with reported amounts).
Portfolio
11
Fund Size
—
Top Stage
Series B
Last 12 Mo
1
Team
Tomohito Shibata
Partner
Satowa Kinoshita
Investment Manager
Hüseyin Fettah
Portfolio Manager
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 ZincFive, Inc. | Series F | $30M | Dec 2025 |
 Eavor | Growth | $182M | Oct 2023 |
 Energy Dome | Series B | $44M | Apr 2023 |
 Piclo (Open Utility Ltd.) | Series B | — | Mar 2023 |
 Piclo | Unknown | — | Mar 2023 |
| Eavor | Series B | $40M | Jan 2023 |
 OhmConnect | Series D | $55M | Jun 2022 |
 Akselos S.A. | Growth | $16.5M | Jan 2022 |
 GHGSat | Series B | $10M | Jul 2021 |
| ZincFive, Inc. | Series F | $30M | — |
| ZincFive, Inc. | Series D | $54M | — |
| SSvante | Series E | $318M | — |
| AAkselos | Growth | $16.5M | — |
| SSvante Technologies | Series E | $318M | — |
| GHGSat | Series C | $44M | — |
Top Co-Investors
Last updated: 20 October 2026