JIC makes LP investment in Transpose Platform BOV III Cayman, L.P.

Tokyo, July 29, 2026 – Japan Investment Corporation (“JIC”) has announcedits decision to make an LP investment of USD50 million in Transpose PlatformBOV III Cayman, L.P. (“BOV IIICayman”) managed by TransposePlatform Management, LLC (“Transpose”).

(1)  About BOV III Cayman
‍Transpose manages fund-of-funds vehicle that primarily invest in VCs and accelerators, and has established a strongrelationship with Y Combinator (“YC”), one of the world’s premier startupaccelerators. BOV III Cayman invests, through BOV III (Transpose Platform BOVIII, L.P.), in funds managed by YC. Founded in San Francisco in 2005, YC hassupported the growth of numerous startups that have subsequently become globalunicorns, demonstrating an exceptional track record in fostering innovation andentrepreneurship.

＜BOV III Cayman＞
Name： Transpose Platform BOV III Cayman, L.P.
Established：2026
Duration：      15 years (with a maximum possibleextension of 2 years)  
GP：                Transpose Platform BOV IIIGP, LLC

＜Overview of Transpose＞
Name： Transpose Platform Management, LLC
Established：      2015
Location：           California, USA
Founder & GeneralPartner：Alex Bangash

(2) Reasonfor Investment　
‍Domestic marketchallenges
‍・Support opportunitiesfor the creation of global unicorns :
‍Forstartups to grow into global unicorns, it is important that they engage withglobal markets from an early stage. In this regard, there is a growing need tofurther expand opportunities for startups to access appropriate support fromaccelerators and other organizations that possess expertise in internationalexpansion and extensive networks of leading global investors.

・Connecting Japan’sStartup Ecosystem with Global Networks :
‍Globally,leading venture studios and accelerators have fostered the creation of numerousunicorn and decacorn companies by equipping entrepreneurs and early-stagestartups with educational programs and valuable professional networks, enablingaccelerated growth and successful expansion into international markets.Meanwhile, within Japan’s startup ecosystem, there remains a growing need tofurther expand opportunities for entrepreneurs and startups to access globalexpertise in entrepreneurship and business scaling, as well as networks of globalinvestors.

Expected impact ofthis investment
・Fosteringthe creation of global unicorns from Japan through support from a leading globalaccelerator :
‍Through thepartnership between Transpose and YC, JIC expects Japanese entrepreneurs andstartups to gain access to world-class expertise, global best practices, andvaluable connections with leading investors. In addition, through educationalprograms, webinars, hackathons, and other initiatives, the partnership isexpected to strengthen pathways for promising entrepreneurs to engage with YC.These efforts aim to expand growth opportunities for startups that aspire tocompete in global markets from the earliest stages of their development.

・StrengtheningJapan’s startup ecosystem through access to global networks :
‍Beyond identifyingand supporting promising entrepreneurs, this investment is expected to expandopportunities for Japanese entrepreneurs, startups, and VCs to gain insightsinto building globally competitive businesses and supporting startup growth. Byfacilitating deeper engagement with international networks and best practices,JIC aims to contribute to the continued development and strengthening of Japan’sstartup ecosystem.


About Japan Investment Corporation (JIC)
Japan Investment Corporation (“JIC”) was established on September 25, 2018 under the Industrial Competitiveness Enhancement Act. JIC’s investment focus areas are driving the creation of a positive cycle of domestic investment and innovation, creating and developing startups, leveraging untapped regional management resources of academic startups and leading medium enterprises and promoting business consolidation in response to changes in market and business environment. JIC provides risk capital to these areas through funds independently established by JIC and LP investment in private funds to promote open innovation and contribute to strengthening the competitiveness of Japanese industries and expanding the investment ecosystem.

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