Walkers advised MPower Partners on the launch of MPower Partners Fund L.P., Japan's first environment, social and governance focused global venture capital fund. The fund was founded by Japanese financial industry experts Kathy Matsui, Yumiko Murakami, Miwa Seki and Eriko Suzuki.
The fund plans to leverage its extensive global expertise and network to support ESG integration, business scaling and global expansion as well as to facilitate overseas startups' entry into Japan by providing tech-enabled solutions.
The fund will focus on investments into growth to late-stage Japanese startups, and the remainder into earlier-stage overseas startups, in industries such as healthcare/wellness, fintech, next-generation work and education, next-generation consumers, and environment and sustainability.
Three leading Japanese financial institutions have already committed capital to the fund and aligned with MPower Partners' mission of driving ESG throughout the venture ecosystem: The Dai-ichi Life Insurance Company, Limited, Sompo Holdings, Inc., and Sumitomo Mitsui Trust Group (in alphabetical order), alongside other global investors.
Lead partner James Gaden comments: "We are very proud to have been part of the team working on this project. Although it is not surprising that the MPower team received such strong institutional support, the investor interest here also speaks to the growing importance of ESG, particularly in the venture capital sector".
Walkers acted as Cayman Islands counsel and was led by partner James Gaden supported by Ann Cheung. Withers acted as international counsel and was led by partner Koji Yamamoto.