Plug and Play Japan has launched its first fund, “Plug and Play Japan Fund I,” to support startups in Japan.

The fund aims to solve key challenges such as limited access to global markets for Japanese startups.

It has secured over 3 billion yen (around US$21.1 million) in its initial closing, with backing from Mitsubishi UFJ Bank, the Organization for Small & Medium Enterprises and Regional Innovation, Tokyu Land Corporation, and Sazaby League.