Japanese venture capital fund Global Brain is launching its sixth fund, aimed at supporting technology startups in various industries, including travel, hardware, enterprise, education, and e-commerce.

According to a report by the Nikkei Asian Review, this latest fund will be financed by more than 10 companies and academic institutions, including travel agency JTB, Mitsui Sumitomo Banking, Sumitomo Forestry, Information Services International-Dentsu, and the public-private entity Cool Japan Fund.

For this fund, Global Brain has closed US$130 million from investors, so far, with a target of US$175 million. According to the report, the fund targets to invest in 70 to 80 companies over a period of 10 years.

For JTB, at least, the aim is to leverage technology startups in enhancing the capabilities of the country’s tourism industry though augmented reality, fintech applications, and the use of data to optimise e-commerce. Leveraging these technologies in the context of the upcoming 2020 Olympic and Paralympic Games in Tokyo is also one target.

This brings the VC’s total funding raised to US$375 million, with investments spread across 51 investments in 43 companies.

This article was first published on e27