NordicNinja, the largest Japanese VC in Europe, has raised a fresh fund of €200mn for early-stage startups active in climate and deep tech, with particular focus on the intersection between sustainability and digitalisation.
Alongside the funding, startups will receive support and access to a network of over 120 blue chip Japanese corporations.
Founded in 2019, NordicNinja is led by a team of founders, engineers, and operators turned investors from Northern Europe and Japan. While the firm’s focal point has been so far on the Nordics and the Baltics, it’s now expanding to the UK, Ireland, and BeNeLux countries. Its headquarters are in Helsinki.
NordicNinja’s first €110mn fund was invested in a total of 20 companies, three of which have achieved unicorn status: Sweden-based Einride and Voi and Estonian Bolt. Overall, the VC funded technologies ranging from self-driving electric trucks and climate action toolkits for cities, to AI identity verification and mixed reality headsets for astronauts.
According to the company, the second fund will continue targeting climate and deep tech startups whose founders are driving sustainability and digital transformation forward. Its biggest investor is Japan Bank of International Cooperation (JBIC), while it’s also backed by Japanese Honda and Omron, and a number of European investors including BaltCap and Swedbank pension funds.
“Thousands of kilometres apart, Japan and Europe have much in common. Both have company-building legacies, an appetite for innovation, and understanding of the need to take care of the planet,” said Tomosaku Sohara, Managing Partner at the VC.
“NordicNinja is a bridge that turns these shared interests into common goals, bringing two of the world’s biggest ecosystems together for the benefit of us all.”