Establishment of the Okinawa-Based "Shinryo Fund", Bridging Japan and Asia
Forseas has established and completed the first close of a new fund, "Shinryo Fund" (Shinryo No.1 Investment Limited Partnership), which will primarily invest in and support seed-stage startups with funding from investors centered in Okinawa Prefecture. Forseas will actively develop investments in startups driving new growth industries in Okinawa.
Background: Circulating Startup Growth in Okinawa
Since beginning operation of the Okinawa City startup support facility "Startup Lab Lagoon" in 2019, Forseas has been dedicated to building and expanding Okinawa Prefecture's startup ecosystem. In the growth process of startups, especially during the seed stage, the presence of venture capital that provides not only funding but also specialized knowledge and networks is essential. However, through its startup support activities in Okinawa Prefecture, Forseas has faced the reality that the number and scale of funds capable of supplying such resources remain insufficient.
Additionally, the existence of a venture capital fund aggregating capital from local businesses creates a positive cycle where profits and knowledge accompanying the development of startups born and growing in Okinawa Prefecture are returned to the prefectural economy and human resource development. Against this background, Forseas established the Shinryo Fund as a regionally rooted fund to contribute to the revitalization of Okinawa's economy and the creation of startups that will generate new industries.
Becoming a "Bridge" Between Japan and Asia Through Open Innovation and Cross-Border Support
With a population of 1.5 million, the island region of Okinawa has limitations in developing large industries solely within the prefectural market. For this reason, the fund will focus on supporting startups challenging larger markets outside the prefecture and overseas in areas that will lead Okinawa's next-generation growth industries, such as tourism, transportation, energy, circular economy, GX, and healthcare. This initiative follows the strategy of the Ryukyu Dynasty era, which flourished as a transit point for East Asian trade known as "Bankoku Shinryo" (Bridge to All Nations), which is also the origin of the fund's name.
Forseas will maximize their extensive network inside and outside the prefecture, the specialized knowledge of their operating members, and venues such as the startup hub "Koza Startup Shopping Street" in Okinawa City and "KOZAROCKS," one of the largest startup conferences in the prefecture, to support co-creation with the Okinawa region and cross-border expansion to areas outside the prefecture and overseas.
While promoting co-creation with the region, Forseas aim to create new core industries for Okinawa following the tourism industry. By realizing this "modern Bridge to All Nations," Forseas will contribute to the economic revitalization of not only Okinawa but also Japan as a whole.
Newsletter Launch to Deliver Startup Information from Okinawa and Taiwan
Forseas is launching a newsletter that will deliver information related to startups in Okinawa and Taiwan, as well as news about the Shinryo Fund and its portfolio companies. In addition to the newsletter, Forseas plans to disseminate information through various channels including social media and podcasts.
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