The government-backed JIC seeks to foster growth opportunities in the Japan's startup ecosystem by limiting forced IPOs.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
As part of its broader mandate the fund will reportedly serve as a national-level secondary vehicle, acquiring company stakes to provide strategic industries with patient capital.
The firm is eyeing up to $150 million in final commitments to pursue late-stage secondary deals across India and Southeast Asia.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
The India-focused vehicle has a target size of $75 million and will allocate capital across primaries, secondaries, and co-investments.
Billed as Australia's first dedicated secondary fund of VC funds, the vehicle held a first close last year.
This will be the first of several planned vehicles aimed at advancing secondary market activity, primarily in the Japanese market.
The India-based alternative asset manager is targeting $52 million in capital commitments to back late-stage startups.
The Seoul-based financial services firm provides brokerage, trading, investment banking, asset management, and advisory services.
