SBI Holdings, Inc has initiated efforts toward a strategic alliance with Across Ventures, LLC a Silicon Valley-based venture capital firm, for the formation of a fund of funds focused on specialized micro VCs.

Across Ventures plans to establish a new fund, “Across Ventures Fund I, L.P.,” to connect U.S. early-stage innovation with Japanese enterprises, and is targeting a fund size of approximately US$100 million. The fund is expected to operate as a fund of funds that makes diversified investments in specialized micro VCs with deep expertise in specific sectors, a segment that has been gaining prominence in the U.S. venture capital market.

In recent years, the U.S. venture capital market has become increasingly bifurcated between mega funds and micro VCs, with specialized micro VCs playing an important role in investments in promising startups at the pre-seed and seed stages.

The fund is expected to make diversified investments in micro VCs focused on AI, physical AI, fintech, blockchain, climate tech, health tech, next-generation computing, space, and other deep tech sectors, and to expand systematic access for Japanese enterprises to early-stage U.S. startups that have traditionally been difficult to reach.

The SBI Group has been strengthening its startup investments in the United States in recent years, and the collaboration with Across Ventures is expected to further accelerate these efforts.

The Company plans to participate in the fund as an anchor LP upon its formation. In addition to providing investment expertise and leveraging its broad network of Japanese enterprises, the Company will also work with Across Ventures on certain operational aspects of the fund and, through support for deal sourcing and investment review, support broader access by Japanese enterprises to leading-edge innovation in the United States. Through these efforts, the Company expects to contribute to the identification of technological and market trends by Japanese enterprises, the promotion of open innovation, and the creation of future business collaboration opportunities.