Hokkaido Venture Capital

Hokkaido Venture Capital (HVC) is a Japanese venture capital firm founded in 1999 and headquartered in Sapporo, Hokkaido. The firm manages 12 funds and operates with a team of 9 people including 5 partners. Beyond investing, HVC provides management consulting, startup support, M&A advisory, IPO preparation, business succession, and restructuring services to portfolio companies, functioning as a full-service growth partner for emerging Japanese businesses. HVC focuses on seed and Series A investments in Japan-based startups with checks typically ranging from $500,000 to $3 million. The firm has made 49 investments over its history, with life sciences and high tech representing the strongest sector concentrations. The portfolio has produced 12 IPOs, including AnGes, RACCOON HOLDINGS, and Immuno-Biological Laboratories. The most recent investment was in Mechano Cross (September 2025, co-invested with Angel Bridge, Incubate Fund, and Mitsubishi UFJ Capital) and Sagri ($6.84 million Series A in August 2024, an agritech and environmental services company backed alongside Global Brain, Globis Capital Partners, and Kirin Holdings). The firm also made a follow-on into KitchHike in April 2025. HVC co-invests extensively with Japan's regional and institutional VC community, frequently partnering with SMBC Venture Capital, Mitsubishi UFJ Capital, and peer regional funds. This collaborative style gives portfolio companies access to a broader network of industry relationships and follow-on capital pathways. Atmark Techno, acquired by COREStaff in June 2016, represents one recorded acquisition exit.