Key Takeaways
- • Across Ventures, a Silicon Valley venture capital firm founded by Managing Partner Emi Yoshikawa, has formed a strategic alliance with SBI Holdings to launch Across Ventures Fund I, L.P., targeting approximately $100 million (¥16 billion) in capital.
- • The fund operates as a Fund-of-Funds structure with a diversified investment strategy focused on specialized micro venture capital firms, intending to invest in a curated portfolio of more than 20 micro VC funds.
- • The fund will concentrate investments across AI, physical AI, fintech, blockchain, climate tech, and health tech sectors, providing Japanese corporations systematic access to U.S. early-stage innovation opportunities traditionally difficult to reach.
- • The strategy capitalizes on the evolving U.S. venture capital barbell dynamic, where mega funds (several billion to tens of billions in size) focus on later-stage investments while specialized micro VCs ($20–50 million funds) increasingly back high-potential startups at pre-seed and seed stages.
- • The partnership aims to accelerate U.S.–Japan innovation collaboration by bridging Japanese enterprises with next-generation early-stage technology companies.
Summary
Across Ventures, a Silicon Valley-based venture capital firm, has announced a strategic alliance with SBI Holdings to establish a new Fund-of-Funds vehicle targeting approximately $100 million in capital. The fund, Across Ventures Fund I, L.P., is designed to connect leading-edge U.S. innovation with Japanese enterprises through a systematic investment approach focused on specialized micro venture capital firms.
The fund structure represents a deliberate strategy to address a fragmentation in the U.S. venture capital ecosystem. According to the announcement, the market is increasingly characterized by a barbell dynamic, with mega funds (ranging from several billion to tens of billions of dollars) concentrating on later-stage, large-scale investments, while highly specialized micro VCs—typically ranging from $20 to $50 million in fund size—are playing an increasingly critical role in backing high-potential startups at pre-seed and seed stages. By operating as a Fund-of-Funds, Across Ventures intends to invest in a curated portfolio of more than 20 micro VC funds, providing Japanese corporations access to early-stage opportunities that have historically been difficult to reach through traditional venture capital channels.
The investment strategy will focus across multiple technology sectors, including AI, physical AI, fintech, blockchain, climate tech, and health tech. This sector diversification reflects the breadth of emerging innovation areas where Japanese enterprises seek exposure to cutting-edge U.S. startups. Managing Partner Emi Yoshikawa stated that "Across Ventures is committed to building a platform for co-creating next-generation industries together with Japanese enterprises," underscoring the partnership's emphasis on collaborative innovation between Japanese corporations and early-stage American technology companies.
The alliance with SBI Holdings, a major Japanese financial services conglomerate, provides substantial institutional backing and leverages SBI's existing networks within the Japanese corporate ecosystem. This partnership enables Across Ventures to facilitate deeper integration between Japanese enterprises seeking innovation and the specialized micro VC ecosystem in the United States, positioning the fund as an intermediary layer between institutional capital and highly specialized early-stage investment vehicles.
The fund structure represents a deliberate strategy to address a fragmentation in the U.S. venture capital ecosystem. According to the announcement, the market is increasingly characterized by a barbell dynamic, with mega funds (ranging from several billion to tens of billions of dollars) concentrating on later-stage, large-scale investments, while highly specialized micro VCs—typically ranging from $20 to $50 million in fund size—are playing an increasingly critical role in backing high-potential startups at pre-seed and seed stages. By operating as a Fund-of-Funds, Across Ventures intends to invest in a curated portfolio of more than 20 micro VC funds, providing Japanese corporations access to early-stage opportunities that have historically been difficult to reach through traditional venture capital channels.
The investment strategy will focus across multiple technology sectors, including AI, physical AI, fintech, blockchain, climate tech, and health tech. This sector diversification reflects the breadth of emerging innovation areas where Japanese enterprises seek exposure to cutting-edge U.S. startups. Managing Partner Emi Yoshikawa stated that "Across Ventures is committed to building a platform for co-creating next-generation industries together with Japanese enterprises," underscoring the partnership's emphasis on collaborative innovation between Japanese corporations and early-stage American technology companies.
The alliance with SBI Holdings, a major Japanese financial services conglomerate, provides substantial institutional backing and leverages SBI's existing networks within the Japanese corporate ecosystem. This partnership enables Across Ventures to facilitate deeper integration between Japanese enterprises seeking innovation and the specialized micro VC ecosystem in the United States, positioning the fund as an intermediary layer between institutional capital and highly specialized early-stage investment vehicles.
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