Sparx Group (Tokyo) — Sparx Innovation for the Future Co., Ltd.—a subsidiary of Sparx Group Co., Ltd.—today announced that it established the Space Frontier Fund. The fund primarily aims to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan.
Casting technologies that “promote the exploitation of space” as core technologies of the future, the Space Frontier Fund invests in start-ups and other organizations that boast innovative technologies in related sectors. Even as Covid-19 continues to have a significant impact on life and society, the fund helps accelerate the pace of innovation by financing companies’ and projects’ business development in technologies that will drive future growth.
The Space Frontier Fund began operations in June with its initial total capital of ¥8.2 billion (US$77 million) financed through contributions from its limited partners. By December 31, 2020, the goal is to have gathered a total of ¥15 billion (US$140) in capital through additional contributions from investors that endorse the objectives of the new fund.