Today's VC Industry Trends looks into funding for Japanese startups.
All figures are based on Crunchbase data and all graphs are my own.
Despite being a sizable, wealthy country and home to SoftBank, the single largest venture capital investment vehicle, the startup scene in Japan is relatively small. The number of rounds per quarter peaked in late-2017 at 220 per month and began declining about a year later. However, the fall has not been as pronounced as it has for specific sectors and geographies I have looked at in past issues. Instead, it has returned to the levels seen in mid-2017 of about 165 per quarter, and the downward trajectory is not steep enough to imply an accelerating reduction. Meanwhile, despite some large spikes, the average round has remained stubbornly low at around $5M.
Those spikes are due to several isolated rounds of post-IPO and alternative funding. Notably,...