News

JIC Venture Growth Investments has acquired shares in Axelspace Holdings Corporation (Axelspace) through its JICVGI Opportunity Fund No.1 (OPF1).

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OPF1 was established in September 2023 with VGI as its General Partner, focusing on direct secondary investments and capital supply to listed startups. This fund is part of the initiatives outlined in the Japanese government’s “Five-Year Plan for Startup Development” and aims to elevate the growth trajectory of startups, support the creation of unicorns, and foster the sustainable and exponential growth of promising listed startups. Furthermore, OPF1 seeks to create successful investment cases in the direct secondary and aftermarket domains, thereby attracting private capital and contributing to the revitalization of Japan’s secondary and growth markets, as well as to the broader strengthening and expansion of the domestic startup ecosystem. This investment marks OPF1’s fourth transaction in the aftermarket domain.

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Founded in 2008, Axelspace has been a pioneer in the development of microsatellites and the company has manufactured a total of 11 microsatellites to date. Axelspace operates two core businesses: the “AxelLiner” service, which provides development and operational support for microsatellite projects tailored to client needs, and the “AxelGlobe” service, which delivers solutions based on imagery data captured by its own optical Earth observation satellite constellation. Leveraging its extensive technical expertise built over many years, the company excels in providing fast and cost-effective services.

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Having gone public on the Tokyo Stock Exchange Growth Market, Axelspace is poised for further expansion across various fields, including national security. OPF1 expects this investment to serve as a catalyst for the company’s continued and accelerated growth.

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The proceeds from this investment will be allocated to the expansion of the satellite constellation, acceleration of R&D, personnel enhancement, marketing expenses.

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^{The information contained in this notice is current at the time of publication and subject to change without notice.}