AN Venture Partners has closed its first fund, a $200 million vault for biotechs worldwide, with particular emphasis on bolstering Japan’s biopharma ecosystem.
The San Francisco- and Tokyo-based firm was formed in 2022 in partnership with global biotech VC ARCH Venture Partners, according to a July 2 release.
AN Venture Partners, or ANV, will invest across all stages of development among any biotech-related companies or organizations. The fund is modality- and disease-agnostic, with investments going toward science that will have a significant clinical impact.
ANV will home in on science sourced from Japan and will work alongside biotech founders to build global biotechs, according to the company.
So far, the VC has funneled money into seven companies, three of which are in stealth mode. The other biotechs are Los Angeles-based Capacity Bio, U.S. RNAi company City Therapeutics, and Imbria Pharmaceuticals in Boston. ANV has also backed Japan- and U.S.-based Typewriter Therapeutics, a recipient of financial support from Japan’s government program designed to strengthen pharmaceutical startups.
“We made our first investment in December 2023 and everything we are seeing confirms our initial hypothesis that Japan represents an untapped source for innovative science,” Ken Horne, managing partner of ANV, said in the release.
Over 20 limited partners invested in ANV’s first fund, led by Japan Investment Corporation, Shionogi & Co., Otsuka Pharmaceutical, MUFG Bank and Sumitomo Mitsui Banking Corporation.
The VC is also working with several Japanese government agencies to help the country reach its goal of becoming a biotech leader by 2030.