In a significant milestone for the venture capital firm, World Innovation Lab (WiL) has raised over $1 billion in funding. This enormous fund will be deployed across WiL’s multiple funds, including WiL Ventures III, WiL Strategic Partners Funds, and its corporate VC funds. With this latest funding, the firm’s total committed capital now stands at more than $1.9 billion.
The Vision Behind World Innovation Lab
Co-founder and CEO of WiL, Gen Isayama, has a rich background in the venture capital industry. He previously worked at DCM Ventures in Silicon Valley for about a decade before co-founding WiL in 2014. Isayama was fascinated by the boom of Asian technology in early 2000, starting in China and later in India and Southeast Asia. He saw how tech innovation ecosystems emerged suddenly from different countries.
Addressing Pain Points of Large Corporations
When launching WiL’s debut fund in 2014, Isayama noticed that Japanese corporations were struggling to digitize their processes and make better use of software technology. They knew they had fallen behind innovation happening elsewhere in the world. Japan lost its technology competitiveness after 2000 as the internet emerged because the country’s entire industries heavily depended on hardware, which is still essential, but focused too little on software.
Bridging Japanese Corporations and the Venture World
WiL wanted to address this gap by bridging Japanese corporations and the venture world. The firm aimed to connect innovative startups with large corporations that were struggling to innovate on their own. WiL’s unique approach was to create a platform where startups could collaborate with corporations, enabling them to develop new technologies and business models.
Limited Partners Include Major Japanese Corporations
WiL’s limited partners include major Japanese corporations such as Sony, Square Enix, Jvckenwood, Panasonic, NTT Docomo Ventures, KDDI, Osaka Gas, ANA, Suzuki Motor, Nissan Motor, Suzuyo, 7&i Holdings, Isetan Mitsukoshi, Mori Building, KAJIMA, ITOCHU, and Japan Investment Corporation.
New Fund Launches with $360 Million
WiL launched its $360 million first fund, or WiL Fund I, in January 2014. The firm later raised $521 million for WiL Fund II in June 2017. The new fund includes investors such as Brother Global, Panasonic, Japan Investment Corporation, and Subaru.
Impact on the Venture Capital Industry
WiL’s success has had a significant impact on the venture capital industry. The firm’s unique approach to bridging startups with large corporations has set a new standard for innovation in Japan. WiL’s commitment to investing in cutting-edge technologies and business models has attracted top talent from around the world.
Conclusion
World Innovation Lab’s latest funding milestone is a testament to the firm’s innovative approach to venture capital. By addressing the pain points of large corporations and connecting them with startups, WiL has created a platform for innovation that is truly unique in the industry. With over $1 billion in funding, WiL is poised to continue its successful journey in the venture capital world.
Related Articles
- Japan’s B2B ordering and supply platform CADDi raises $73 million Series B funding
- Japanese insurance company Tokio Marine launches CVC fund to back early-stage startups
- Kate Park is a reporter at TechCrunch, with a focus on technology, startups and venture capital in Asia. She previously was a financial journalist at Mergermarket covering M&A, private equity and venture capital.