JIC makes LP investment in Polaris Private Equity Fund VI

Tokyo, April 24, 2026 – Japan Investment Corporation (“JIC”) has announced its decision to make an LP investment of JPY12 billion in Polaris Private Equity Fund VI (“Polaris Fund VI”), which is managed by Polaris Capital Group Co., Ltd. (“Polaris”).

Details are as follows.

(1) About Polaris Fund VI

As a Japanese buyout fund management company, Polaris has handled a wide range of transactions—including carve-outs, public-to-privates, and business succession—across a variety of industries. Polaris has a track record of investing in deals that contribute to strengthening Japan’s industrial competitiveness through carve-outs leading to industry consolidation and medium- to long-term growth investments, and it is gradually expanding its fund size. Building on this track record, Polaris Fund VI plans to further accelerate investments in large-scale deals across sectors that include technology/manufacturing, medical/healthcare/welfare, IT/services/logistics, and consumer goods/retail.

Polaris Fund VI
Name:                    Polaris Private Equity Fund VI
Established:          August 2024
Duration:               10 years (with two 1-year optional extensions)
GP:                         Polaris Capital Group Co., Ltd.

Overview of Polaris
Name:                    Polaris Capital Group Co., Ltd.
Established:          September 2004
Location:               Chiyoda-ku, Tokyo
Representative:    President and CEO Yuji Kimura

‍(2) Reason for investment

Domestic market challenges:

▪Promoting business restructuring to adapt to market and business environment changes:
‍To maintain and enhance their competitiveness, Japanese companies must adapt to the significant changes in the market and business environment—such as resource and energy constraints, societal challenges, supply chain restructuring, and technological innovation—through business restructuring and organizational renewal.

▪Shortage of players capable of handling large-scale transactions:
‍Many buyout funds are targeting Japanese companies, but few—domestic or foreign—are capable of investing in large-scale deals with enterprise values of around JPY100 billion.

Expected impacts of this investment:

▪Strengthening the competitiveness of entire industries through business restructuring and growth investment:
‍Through business restructuring and growth investments in its portfolio companies, JIC will leverage Polaris’ expertise and know-how in carve-outs and medium- to long-term growth investments to promote investment activities that contribute to strengthening the competitiveness of entire industries.

▪Increase the number of players capable of handling large-scale transactions:
‍By investing in Polaris Fund VI, which is managed by a team fully capable of handling large-scale transactions, JIC aims to support the formation of a fund worth JPY200 billion, which is expected to lead to an increase in the number of players capable of investing in large-scale transactions.

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About Japan Investment Corporation (JIC)

Japan Investment Corporation (“JIC”) was established in September 2018 under the Industrial Competitiveness Enhancement Act. JIC’s investment focus areas are creating a virtuous cycle of domestic investment and innovation; creating and fostering startups; leveraging promising untapped management resources lying dormant in local areas, including startups from academia and medium-sized companies; and promoting business restructuring in response to changes in market and business environments. JIC provides risk capital to these areas through funds independently established by JIC and LP investment in private funds to promote open innovation in Japan, strengthen the competitiveness of Japanese industries, and contribute to expansion of Japan’s investment ecosystem.

URL: https://www.j-ic.co.jp/en/

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