XTech Ventures

XTech Ventures is an independent Tokyo-based venture capital firm established in January 2018 to back seed and early-stage Japanese startups across both B2B and B2C. The firm is led by General Partners with public-company management and corporate new-business backgrounds, and it has built a reputation for a pragmatic liquidity philosophy, explicitly framed as 'an IPO is not the only right answer,' actively pursuing dual-track exits via M&A and secondary buyouts in addition to listings on Japanese exchanges, and it is willing to lead. Across three funds the firm now manages approximately JPY 30 billion total in committed capital: Fund I, launched 2018 at JPY 5.2B, Fund II, launched 2021 at JPY 12.3B, and Fund III, which closed at approximately JPY 13B and expanded XTech's mandate to five core areas: Energy, Applied AI, Consumer Experiences, Space & Defense, and Deep Tech. Total portfolio is roughly 73 active companies with 142 to 148 total investments to date. Fund I has already produced 6 IPOs, 11 M&As and 2 secondary exits from 39 companies, and Fund II has notched 3 IPOs and 4 M&As from 60 investments. Hiroki Teshima is a current General Partner, and Satoshi Furukawa is also affiliated with the firm. The most recent reported investment was a Series B-II round into Smooth, in real-estate services, in December 2025. By combining a flexible, dual-track liquidity philosophy with a broad five-area mandate, XTech Ventures backs seed and early-stage Japanese founders across energy, AI, consumer, space, defense and deep tech.