New Japanese VC fund to invest in Europe

The vehicle already holds $70m in committed capita and has a 10-year lifespan.

According to its form-D filing on the US Securities and Exchange Commission (SEC), the vehicle is domiciled in the Cayman Islands.

Newly created Remiges has offices in Tokyo and Cambridge, Massachusetts.

Investors
Japanese pharmaceutical firms Taiho Pharmaceutical Co and Sumitomo Dainippon Pharma have each invested $30m in the fund.

According to the SEC filing, the vehicle currently has three backers.

Investments
Remiges Biopharma will invest in biotechnology and pharmaceutical start-ups, predominantly in Europe and the US. It will focus on seed and early-stage funding rounds.

The fund will focus its investments on companies that are developing drug treatments for under-served medical conditions. Its investments should have the potential for commercial opportunity in the US market.

People
Remiges is headed up by managing partner Taro Inaba and partner Walter Olesiak. Both formerly worked at Mitsui Ventures, with Inaba acting as the firm's president and CEO in 2008-2009.

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