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Funds/Asia/Incubate Fund

Incubate Fund

Venture Capital Firm (Investor)Tokyo, Japan·Founded 2010·incubatefund.com

Est. dry powder

$260.2M

Raised, not yet invested

AUM

$10.8B

Assets under management

Latest fund

$63.9M

Incubate Fund LP

Est. cheque size

$185.6K–$5.8M

From fund sizes

Deals, last 12 months

37

Last seen investing Sep 2026

About Incubate Fund

Incubate Fund is a Tokyo-based venture capital firm targeting seed to early stage opportunities in Japan, US, India, and Asia. It focuses on IT and internet start-ups operating in various sectors including business services, consumer services, financial services, healthcare, media, and gaming. It also invests in cutting-edge technologies such as AR, VR, AI, IoT, robotics, drones, and blockchain. Incubate Fund is active in community building for seed-stage entrepreneurs and venture capital firms, organizing meetups and events such as Incubate Camp and Asia Leaders Summit. In 2018, Incubate Fund established Incubate Fund LP (IFLP) Fund, a fund of funds targeting seed-stage venture funds, as a way to support young independent general partners in Japan.

Type
Venture Capital Firm (Investor)
Headquarters
Tokyo, Tokyo, Japan
Stages
AngelSeedSeries ASeries BSeries CSeries DSeries ESeries F+2
Est. cheque size
$185.6K–$5.8M
Sectors
Information Technology, Diversified, Industrials
Regions
Asia
Strategies
Seed, Pre-Seed, Series A

Where they invest

From deals and portfolio companies on record

Most frequent rounds

  • Seed128
  • Series A80
  • Series B38
  • Series C16
  • Series D10

Across 416 deals

Portfolio sectors

  • Software22
  • Financial Services8
  • —7
  • Aerospace7
  • Internet5

Across 268 companies

Portfolio countries

  • Japan75
  • India14
  • US8
  • Australia1
  • Brazil1

Across 268 companies

Recent investments

Newest 5 of 416

DateCompanyRoundAmountCo-investors
  1. Sep 2026

    9lione, Inc.

    Sep 2026 · Series A

    Series A$780KMitsui Sumitomo Insurance Venture Capital, DG Ventures, Yokohama Capital, Globe advisors +1
  2. Sep 2026

    Metro Weather Co., Ltd.

    Sep 2026 · Series B

    Series B$9.4MMitsubishi Heavy Industries
  3. Sep 2026

    POWER LASER TECHNOLOGY INC

    Sep 2026 · Unspecified Round

    Unspecified Round$7.5MJapan Finance Corporation, SMBC Venture Capital, Mizuho Capital, Joyo Capital Partners +7
  4. Sep 2026

    Paytner Inc.

    Sep 2026 · Series D

    Series D$14.4MMizuho Capital, Samurai Incubate, Nissay Capital, Spiral Capital +5
  5. Aug 2026

    Mesotron

    Aug 2026 · Unspecified Round

    Unspecified Round——

Offices

7 locations

  • Tokyo, Tokyo, JapanHQ
  • Mountain View, California, US
  • Singapore, Singapore
  • Tokyo, Tokyo, Japan
  • Mumbai, Maharashtra, India
  • Tokyo, Tokyo, Japan
Show 1 more officesShow fewer offices
  • Bangalore, Karnataka, India

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Questions about Incubate Fund

How much does Incubate Fund invest per deal?

Based on the size of its funds, Incubate Fund writes estimated cheques of $185.6K–$5.8M. Lead cheques usually sit at the top of that range and follow-on cheques lower.

What stages does Incubate Fund invest in?

Incubate Fund has invested at Angel, Seed, Series A, Series B, Series C and Series D. Its most frequent rounds on record are Seed, Series A and Series B.

How much capital does Incubate Fund have left to invest?

Incubate Fund has an estimated $260.2M in dry powder: capital it has raised but not yet invested.

What has Incubate Fund invested in recently?

Recent investments include 9lione, Inc., Metro Weather Co., Ltd. and POWER LASER TECHNOLOGY INC. It made 37 investments in the last 12 months.

Where is Incubate Fund based?

Incubate Fund is headquartered in Tokyo, Japan. It has 6 other offices.

How do I contact Incubate Fund?

Partner names, emails and LinkedIn profiles for Incubate Fund are on the Capital Atlas Pro and Team plans, which also draft outreach and track replies. Check the stages and cheque size above first, so you pitch a firm that fits your round.

Similar investors in Asia

Shanghai State-owned Capital Investment Leading FundChina · Cheque $31M–$100M$8.4B dry powderHHui Hua FundChina · Cheque $81.1M–$100M$7.5B dry powderYYufu CapitalChina · Cheque $761.4K–$6.6M$4.7B dry powderNNingbo Tongshang FundChina · Cheque $309.5K–$1.5M$3.4B dry powderGoHigh CapitalChina · Cheque $100K–$42.3M$2.3B dry powderPPuquan CapitalChina · Cheque $4.5M–$54M$2B dry powder

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