DCI Partners, a venture capital firm under Japan's Daiwa Securities Group, has established a biotech-focused investment fund worth 20 billion yen (about 190 billion won). The fund is the largest biotech-specialized fund in Japan, with Korea Venture Investment Corp. (KVIC) and a Taiwanese government agency participating as limited partners.
According to the Nihon Keizai Shimbun on Tuesday, DCI Partners will expand the fund to 25 billion yen (about 240 billion won) by attracting additional investment following the first round of fundraising. The capital raised will be invested in biotech startups across Asia, including Japan, Korea, and Taiwan.
The Nikkei reported, "Since the biotech sector requires substantial funding and long-term development to carry out everything from basic research to clinical trials, the plan is to focus support on companies with high growth potential." It added, "DCI Partners has accumulated experience in long-term investment in biotech ventures, including establishing a fund specialized in new drug development targeting unlisted biotech companies in 2020."
Japan's Ministry of Economy, Trade and Industry projects that the market for biomanufacturing using bio-materials and microorganisms will reach 46.2 trillion yen (about 440.66 trillion won) in 2030 and 114.8 trillion yen (about 1,095.1 trillion won) in 2040.
