JIC makes LP investment in GLIN Impact Capital No.2 Investment Limited Partnership

Tokyo, April 21, 2026 – Japan InvestmentCorporation (“JIC”) has announced its decision to make an LP investment of JPY3billion in GLIN Impact Capital No.2 Investment Limited Partnership (“GLIN2”),which is managed by GLIN Impact Capital Co.Ltd. (“GLIN”).

Details are as follows.

（１）  About GLIN2

GLIN invests ingrowth-stage startups to help enhance their corporate value and create socialimpact that contributes to achieving that; GLIN2 has the same investmentstrategy.

 

＜About GLIN2＞

Name：           GLIN Impact Capital No.2 Investment Limited Partnership
Established： January 2026      
Duration：       10 years (with a maximum possibleextension of 2 years)    
GP：                GLIN Impact Capital No.2 Limited Liability Partnership

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＜Overview of GLIN ＞

Name： 　      GLIN Impact Capital Co.Ltd.
Established： November 2025 (predecessororganization established February 2021)
Location：      Minato-ku, Tokyo
Representative：Partner Masato Nakamura, Masahiro Hata

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（２）  Reason for Investment

Domestic market challenges：

・Growthstage funding to foster global unicorns：
‍Fostering the creation of global unicorns requires a supplyof long-term, large-scale risk capital during the growth stage, when startups needfunding to scale their operations.

・Creatinga virtuous cycle of domestic investment and innovation：
‍To maintain and strengthen Japan’s internationalcompetitiveness, it is necessary to view future global societal challenges suchas resource and energy constraints and climate change as sources of growth.There is a need to create a virtuous cycle of domestic investment andinnovation by fostering new businesses and innovations through GX and DXinitiatives that seek to address these challenges.‍

・Fundraisingfrom institutional investors：
‍Funding from institutional investors for growth stagestartups, including GLIN2, remains insufficient. Expanding the supply of riskcapital from institutional investors over the medium to long term remains a keychallenge.

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Expected impacts of thisinvestment：

・Creationof global unicorns：
‍By providing growth capital to domestic startups prior totheir initial public offerings (IPOs)—thereby accelerating their growthtrajectories—JIC expects to see promising domestic startups grow into globalunicorns.‍

・Creatinga virtuous cycle that drives challenge-driven innovation：
‍JIC aims to create role models by expanding itsinvestments in startups seeking to achieve business growth and generate socialimpact in areas related to climate change, healthcare, and the creation of aninclusive society—the sectors in which GLIN2 focuses its investments.Furthermore, JIC seeks to promote the inflow of highly skilled talent andcapital, thereby creating a virtuous cycle in which challenge-driveninnovation emerges autonomously and continuously.‍

・Increasedsupply of risk capital from institutional investors：
‍In addition to the catalytic effect of risk capital, JICendeavors to expand the supply of medium- to long-term risk capital including fundsentrusted by institutional investors for the purpose of pure investment in subsequentfunds by providing support to improve fund management and strengthen organizationalstructures.

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About Japan Investment Corporation (JIC)

Japan InvestmentCorporation (“JIC”) was established in September 2018 under the IndustrialCompetitiveness Enhancement Act. JIC’s investment focus areas are creating avirtuous cycle of domestic investment and innovation; creating and fosteringstartups; leveraging promising untapped management resources lying dormant inlocal areas, including startups from academia and medium-sized companies; andpromoting business restructuring in response to changes in market and businessenvironments. JIC provides risk capital to these areas through fundsindependently established by JIC and LP investment in private funds to promoteopen innovation in Japan, strengthen the competitiveness of Japanese industries,and contribute to expansion of Japan’s investment ecosystem.

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