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CorporateVentureCapital.com

Kuroneko Innovation Fund

Profile, fund size and portfolio

Parent Yamato HoldingsHQ Tokyo, JapanFounded 2020

Kuroneko Innovation Fund is the corporate venture arm of Yamato Holdings, a logistics and transportation company. It was founded in 2020 and is based in Tokyo, Japan. It invests from seed to late stage. Sectors it names: logistics and supply chain.

Fund sizeS1
JPY 13bn

Every figure links to its source

Snapshot

Investment stage: Seed to Late stage
Data behind this graphic
Data behind this graphic
ItemValue
Stage rangeSeed to Late stage
SectorsLogistics and supply chain
GeographyNorth America, Europe, Asia
OfficesTokyo, Japan

Sources: S1 Kuroneko Innovation Fund about page (Japanese).

Graphic 1 of 2

Investment stage: Seed to Late stage

Sources: S1 Kuroneko Innovation Fund about page (Japanese).

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Scale and capital allocated
Data behind this graphic
Data behind this graphic
MeasureValueUnitKindSource
Headline sizeJPY 13bnFund sizeStated by the firm or its parentS1
Companies on the firm's portfolio page22companiesCounted from the firm's own listS2

Sources: S1 Kuroneko Innovation Fund about page (Japanese); S2 Kuroneko Innovation Fund portfolio page.

Graphic 2 of 2

Scale and capital allocated

Firms and databases count companies, rounds and investments differently.

Sources: S1 Kuroneko Innovation Fund about page (Japanese); S2 Kuroneko Innovation Fund portfolio page.

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Where it invests and who leads it

Geography

Headquarters
Tokyo, Japan

Investment regionsS1

LeadersS5S12

Kuroneko Innovation Fund on LinkedIn

Key facts

FactValueStatusSource
Parent companyYamato HoldingsSingle sourceS1
Parent industryLogistics and transportationSingle sourceS1
Founded2020Single sourceS1
HeadquartersTokyo, JapanSingle sourceS4
StatusActiveSingle sourceS1
Capital sourceParent company onlySingle sourceS1
Headline sizeJPY 13bn (Fund size)Single sourceS1
StagesSeed, Series A, Series B, Late stageSingle sourceS1

Recent rounds

DateCompanyRoundAmountSource
2026-08-04JIJNot statedNot statedS3
2026-04-23WATTNot statedNot statedS6
2025-10-21SECAI MARCHENot statedNot statedS6
2025-06-13Shinkei SystemsNot statedNot statedS6
2024-08-08SagriNot statedNot statedS7
2020-12-07YoursNot statedNot statedS6

Fund vehicles

VehicleSizeYearSource
KURONEKO Innovation Fund (Fund I, YMT-GB L.P.)JPY 5bn2020S1
KURONEKO Innovation Fund II (YMT-GB Fund II L.P.)JPY 8bn2024S8

Portfolio

The firm's portfolio page lists 22 companies.S2

Shared portfolio with other corporate VCs

14 companies on the Kuroneko Innovation Fund portfolio page also appear on the portfolio page of at least one other firm in this directory. Matched by company website, or by name where no website is published.

FirmSharedCompanies in common
EPSON X Investment3GITAI Japan, SiLC, Axelspace
KDDI Open Innovation Fund3GITAI Japan, JIJ, Bounce
Daiwa Corporate Investment2GITAI Japan, STYLE PORT
JGC Mirai Innovation Fund2GITAI Japan, Metro Weather
Shizuoka Capital2Sagri, Pale Blue
Sony Innovation Fund2SiLC, STYLE PORT
ME Innovation Fund2Pale Blue, JIJ
Dai-ichi Life Startup Investments1GITAI Japan
NEC Capital Solutions1GITAI Japan
Canon Marketing Japan MIRAI Fund1Sagri
Glocalink1Sagri
KIRIN Health Innovation Fund1Sagri

Companies backed by the most corporate VCs

Every company on the Kuroneko Innovation Fund list

22 companies, as listed on the firm's own website.S2 Read the firm's list.

  • 60%
  • Axelspace
  • Best Beer Japan
  • Bounce
  • Free Standard
  • GITAI
  • HIVED
  • iStore iSend
  • JIJ
  • METRO WEATHER
  • Pale Blue
  • Regent Craft
  • Rentio
  • Sagri
  • SECAI MARCHE
  • Shinkei Systems
  • SiLC
  • SLAMcore
  • spiralAI
  • STYLE PORT
  • WATT
  • Yours

History

  1. KURONEKO Innovation Fund (Fund I, JPY 5 billion) established with Global Brain as general partner.S1
  2. KURONEKO Innovation Fund II (JPY 8 billion) established on 15 May 2024; first Fund II investment is Sagri in August 2024.S8

Official pages

Read the firm's own pages for current information.

Sources

  1. S1Kuroneko Innovation Fund about page (Japanese)Firm
  2. S2Kuroneko Innovation Fund portfolio pageFirm
  3. S3Kuroneko Innovation Fund news: JIJ investmentFirm
  4. S4Yamato Holdings news release: KURONEKO Innovation Fund established (HQ Chuo-ku, Tokyo)Firm
  5. S5Yamato Group executive appointments, effective 1 Mar 2026 (Saito Yasuhiro to Executive Officer, Digital)Parent company
  6. S6KURONEKO Innovation Fund: News and portfolio announcementsFirm
  7. S7Yamato HD: First Fund II investment, SagriParent company
  8. S8Yamato HD: KURONEKO Innovation Fund II established (JPY 8 billion, 15 May 2024)Parent company
  9. S9The Architecture of Trust | A BCCJ Exclusive with Yamato HoldingsPress
  10. S10ヤマトHD:共創の舞台裏(KURONEKO Innovation Fund 活動紹介)Press
  11. S11投資成功の鍵は物流という“だし” ヤマトグループが取り組む「現場基点」のオープンイノベーションPress
  12. S12「投資家目線になるな」が合言葉。ヤマトが抱く、スタートアップ協業への覚悟Press
  13. S13物流・サプライチェーンを変革するーーヤマトホールディングスの「KURONEKO Innovation Fund」Press

Disclaimer and corrections

Not affiliated. This page is not affiliated with, endorsed by or sponsored by Kuroneko Innovation Fund or any company named on it. Names and trademarks belong to their owners. Informational only. This is a public-source reference. It is not investment, legal or tax advice and not an offer or solicitation. Sources. Each figure names its source. Figures may have changed. Please read the firm's official pages, linked above. Corrections and takedown. To report an error or ask for a change or removal, use the correction form or email Richard@CorporateVentureCapital.com.

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