(Bloomberg) -- A venture-capital fund headed by former Japanese national soccer team player Keisuke Honda has raised about ¥15.3 billion ($98 million), according to a document seen by Bloomberg.

Most Read from Bloomberg

NYC’s Subway Violence Deters Drive to Bring Workers Back to Office Can American Drivers Learn to Love Roundabouts? Don’t Shrink the Bus Dutch Central Bank Restores Amsterdam’s ‘Ugliest Building’ NYC Congestion Pricing Takes Effect After Years of Delays

Sumitomo Mitsui Banking Corp., Nomura Holdings Inc. and SBI Holdings Inc. are among at least 20 companies that invested in Honda’s X&KSK Fund, according to the document. SBI Holdings and SBI Shinsei Bank Ltd. have parked a combined ¥2 billion in the fund, making them the biggest shareholders.

Honda, who scored goals in three World Cups in a row and played for CSKA Moscow and AC Milan, is also active in investing, founding Dreamers VC with American actor Will Smith. His goal is to help create a so-called decacorn in Japan — a closely held company with a market value of more than $10 billion — and he’s eyeing firms involved in artificial intelligence and those that have developed cutting-edge technology or innovative business strategies.

“I’m aware that creating a decacorn in Japan is a very difficult challenge,” Honda said by email. “But considering all that the Japanese have accomplished, I think it definitely can be achieved.”

The former AC Milan midfielder has said he’s gotten access to good deals because of his fame as an ex-football player. He also said he doesn’t have rival athlete-turned-investors in Japan. Celebrities are often reluctant to discuss their investments in Japan, a contrast with the US, where athletes like Shaquille O’Neal, LeBron James and Serena Williams have become venture capital moguls.

While the number of Japanese startups has been on a rising trend, unicorn firms with market value of more than $1 billion remain limited compared with other countries, according to a report released in June by a Ministry of Economy, Trade and Industry-hosted panel. To help grow startups, more ways to provide them with bigger financing are needed, according to the report.

The amount of funds that Japanese startups raised peaked in 2022 at ¥978.2 billion and fell to ¥803.9 billion last year, but that still represented a more than five-fold increase compared with 2014, according to Uzabase Inc.’s Speeda data.

With the possibility that the trade spat between China and the US will worsen after Donald Trump takes office, while conflicts in Ukraine and the Middle East show few signs of ending, overseas investors’ focus has been shifting from China to Japan.

Story Continues

SBI has invested in about 1,200 startups over the past 25 years. Through Honda’s fund, it hopes to increase its network of overseas investors and promote Japanese startups, said Shohei Yamada, a partner at SBI Investment.

Most Read from Bloomberg Businessweek

The US’s Worst Fears of Chinese Hacking Are on Display in Guam Luxury Brands Need to Get Over Their Youth Fixation to Offset Drag From Trump’s Tariffs What Happens When TikTok’s Trend Machine Shuts Down? Elon Musk Is Not Having a Happy New Year Why Everyone’s Obsessed With Meat Sticks and Cottage Cheese

©2025 Bloomberg L.P.

View Comments