Incubate Fund is an independent early-stage venture capital that specializes in providing capital to technology startups at the seed stage. The firm built a portfolio of over 300 companies in Asia, taking 12 companies to public and 20 companies to M&A exit since 2010.

Incubate Fund

STRIVE focuses on investing in early-stage (Seed to Series A) internet and mobile companies. It seeks out companies in Japan, Southeast Asia, and India with top-notch management teams and strong market potential. It is not tied to strategic investments for GREE Inc. and leverages its pan-Asia expertise for guiding its portfolio in an engaged, hands-on role.

STRIVE

Energy & Environment Investment, Inc. (EEI) is Japan’s first venture capital specialized in the clean technology sector. With core members who have rich hands on experience in founding and managing venture companies, we aim to provide risk money and various strategic values to promising venture companies and businesses.

Energy & Environment Investment

Axiom Asia Private Capital Management Services, L.P., is a firm focusing on fund investments in buyout, venture capital and growth capital opportunities in the Asia Pacific Region.

Axiom Asia Private Capital

Tybourne is a global investment firm with a fundamental approach to equity investing, both public and private

Tybourne Capital Management

Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works.  they’ve invested in and partnered with more than 400 of the world's tenacious enterprise software companies  Salesforce Ventures leverages decades of expertise in the cloud and long-term relationships with key decision-makers at thousands of businesses around the world to give portfolio companies an unfair advantage, help them build credibility, and accelerate growth.

Salesforce Ventures

SBI Investment supports the business development and growth of private venture companies through fund investment. It manages and manages venture capital funds under the management philosophy of becoming a leading company responsible for the creation and development of core industries in the 21st century as a ''new industry creator''. SBI Investment has invested in a total of 986 companies in the past, of which 169 (17.1% of investment companies) have exited through IPO or M & A.

SBI Investment

Pavilion Capital operates as a private equity firm under Temasek Holdings. Pavilion Capital invests primarily in privately owned firms in North Asia.

Pavilion Capital

GLIN Impact Capital is an impact and ESG investment fund investing in startups in Japan and the U.S.

GLIN Impact Capital

GMO Venture Partners is an early and growth stage investment subsidiary of GMO Internet Group, one of the most comprehensive providers of industry-leading Internet services in Japan. The firm has a strong presence in supporting startups from EC, payment, ad-tech and enterprise SAAS sectors in regions such as Japan, China, Vietnam, Singapore, Philippines, Thailand, Indonesia and the US. GMO VenturePartners Inc has invested in over 50 startups in over the past years and eight companies went public.

GMO VenturePartners

Sony Innovation Fund is the corporate venture capital arm of Sony that invests and engages in early-stage companies. Beyond investment, our mission is to provide resources such as access to the broader Sony world and its global network, as well as collaborate with startups to:  • Foster business creation in related lines of business and new areas of interest to Sony  • Catalyze a talented and passionate team  Sony innovation Fund was founded in 2016.

Sony Innovation Fund

Sumitomo Mitsui Banking Corporation offers a broad range of financial services centered on banking. They are also engaged in leasing, securities, credit card, investment, mortgage securitization, venture capital, and other credit-related businesses. The following lists the activities of SMBC, its subsidiaries, and affiliates in the various business segments. It is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.

Sumitomo Mitsui Banking Corporation

SPARX Asset Management engages in investment management, advisory, and first and second-class financial instruments business. It was founded with the aim of becoming ''the most trusted and respected investment company in the world''. The firm was established in 2006 and is based in Konan, Minato-ku, Tokyo, Japan.

SPARX Asset Management

Murata designs and manufactures consumer electronics, automobile-related applications, energy management systems, and healthcare equipment. Its product portfolio includes products in the categories of smart homes, mobile communications, lighting, industrial equipment, networking, business machine, AV equipment, security and safety, automobile, capacitor, inductors, sensors, timing device, micro-mechanics, RFID devices, balun, couplers, filters, front-end modules, circuit boards, and more.

Murata Manufacturing

MetaProp is a New York-based venture capital firm focused on the real estate technology (“PropTech”) industry. Founded in 2015, MetaProp’s investment team has invested in 175+ technology companies across the real estate value chain. The firm manages multiple funds for both financial and strategic real estate investors that represent a pilot- and test-ready sandbox of 20+ billion square feet across every real estate asset type and global market. The firm’s investment activities are complemented by pioneering community leadership including the PropTech Place innovation hub, MetaProp Accelerator at Columbia University programs, global events including NYC Real Estate Tech Week, and publications Global PropTech Confidence Index and PropTech 101.

MetaProp

Daiwa House is a home builder that engages in the provision of construction and real estate services. The company also engaged in the construction of factories, shopping centers, health care facilities, and operations of hotels, golf courses, and fitness clubs.

DaiwaHouse

Ricoh provides innovative products and services, and it is expanding its business in three customer segments: office, printing, and others. The company provides image equipment such as MFPs and printers for offices and visual communication products that support new work styles. In addition, the company solves problems for office customers through total solutions that combine IT environment construction, network environment operation support, and user support.

Ricoh

NX / NP Logistics supports the propose that connect factories to end users, and solve each of customers issues. They supports electronics logistics. They supports the expanding business of customers with the strength of the industry's home appliance logistics infrastructure.

NX NP Logistics

KDDI Green Partners Fund is a corporate venture capital firm that invests in firms that address climate change issues.

KDDI Green Partners Fund

Nippon Life Insurance Company, together with its subsidiaries, engages in insurance and insurance-related businesses worldwide. The company’s products for individual customers include whole life and term life insurance products and term life insurance with survival benefits dread disease, physical disability and nursing care insurance products general medical, cancer medical, and limited injury insurance products, annuities and endowment insurance products, juvenile, children’s general medical, and education endowment insurance products, single-payment products, and automobile and fire insurance products. It also offers consultancy services for individual customers.

Nippon Life Insurance Company of Japan

The Japan International Cooperation Agency (JICA) is advancing its activities around the pillars of a field-oriented approach, human security, and enhanced effectiveness, efficiency and speed.

Japan International Cooperation Agency

JERA Co., Inc., together with its subsidiaries, engages in fuel, and power generation and energy infrastructure businesses. JERA Co., Inc. (“JERA”) was established on April 30, 2015 based on the comprehensive alliance entered into between Tokyo Electric Power Company (since renamed and referred to herein as “TEPCO”) and Chubu Electric Power Company (“Chubu”) encompassing the entire energy supply chain from upstream fuel investment and fuel procurement through power generation.

JERA

Asuene

Asuene involves in clean power retail business, retail SaaS business, etc.

Asuene is a Japanese climate tech company that provides a cloud-based carbon accounting platform for enterprises. Founded in October 2019, Asuene's flagship service, Asuzero, enables businesses to measure, report, and reduce carbon emissions throughout their supply chain. The platform visualizes greenhouse gas emissions for Scope 1, 2, and three in alignment with the Greenhouse Gas Protocol. As of November 2023, Asuene served over 4,000 clients, primarily in Japan. The company offers a comprehensive suite of services including sustainability transformation consulting, assistance for global initiatives like TCFD, CDP, and SBTi, and support for carbon credit solutions. In addition to carbon accounting, Asuene provides an ESG evaluation service called ""ESG Cloud Rating (EC R)"" for sustainable supply chain procurement. The company has expanded its global presence by establishing subsidiaries in Singapore (November 2022) and the US (November 2023). Asuene aims to become Asia's leading climate tech company and contribute to global efforts to achieve net-zero emissions.

Asuene expands global presence with launch of Asuene USA in Los Angeles, California

Asuene Establishes First Overseas Subsidiary, "Asuzero Singapore Pte. Ltd.," Aiming to Become Asia's No. 1 Climate Tech Company

Asuene partners with KDDI for CO2 emissions visualization & reduction

Japanese Greentech Company Asuene Expands Into the US

Tokyo Stock Exchange opens new platform for carbon credit trading

Asuene Raises US$20 million in Series B Round, Aiming to Become Asia's No.1 Climate Tech Company through Significant Investment

Japan acquires 4 million carbon credits in past year

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

Japanese carbon accounting startup Asuene sets up shop in Bangkok

Asuene is a Japanese climate tech company that provides a cloud-based carbon accounting platform for enterprises. Founded in October 2019, Asuene's flagship service, Asuzero, enables businesses to measure, report, and reduce carbon emissions throughout their supply chain. The platform visualizes greenhouse gas emissions for Scope 1, 2, and three in alignment with the Greenhouse Gas Protocol. As of November 2023, Asuene served over 4,000 clients, primarily in Japan. The company offers a comprehensive suite of services including sustainability transformation consulting, assistance for global initiatives like TCFD, CDP, and SBTi, and support for carbon credit solutions. In addition to carbon accounting, Asuene provides an ESG evaluation service called ""ESG Cloud Rating (EC R)"" for sustainable supply chain procurement. The company has expanded its global presence by establishing subsidiaries in Singapore (November 2022) and the US (November 2023). Asuene aims to become Asia's leading climate tech company and contribute to global efforts to achieve net-zero emissions.
Key customers and partnerships
Asuene has formed strategic partnerships to enhance its offerings and expand its reach. In July 2023, Asuene's Singapore subsidiary partnered with telecommunications company KDDI Asia Pacific to provide CO2 emissions visualization and reduction services to KDDI's customers in Southeast Asia and other APAC nations. This collaboration combines KDDI's advanced IoT solution for monitoring electricity usage with Asuzero's decarbonization solutions. In October 2023, Asuene joined forces with SBI Holdings to establish a new company focused on brokering carbon credit trading, coinciding with the Tokyo Stock Exchange's launch of a carbon credit trading platform. These partnerships reflect Asuene's commitment to supporting businesses in their sustainability efforts across various sectors and regions.

<div>
 
 Circular IQ is a Netherlands-based digital platform that offers SaaS-based solutions for businesses to assess their circular performance through smart data-gathering and analytics. Circular IQ collects and analyzes supplier-specific data and provides tailor-made reports for businesses about the circularity of their operations.&nbsp;
 
 
 Circular IQ offers three main services 1) Circular Procurement Program, a service that monitors and reports the circular performance of a business&rsquo;s existing supply chain, 2) Product Circularity Improvement Program, a service in collaboration with KPMG to identify areas where the circularity of an existing supply chain can be improved, and 3) Circular Transition Indicators (CTI) Program, a service that supports and guides businesses through circular transition.
 
 
 Key customers and partnerships
 
 
 In March 2024, Circular IQ reported more than 2,000 CTI customer accounts in 94 countries. Microsoft, KPMG, Whirlpool, Saudi Aramco, Aptar, Rabobank, bp, Deloitte and Royal DSM were some of Circular IQ&rsquo;s high-profile clients.&nbsp;&nbsp;
 
 
 
</div>

Circular IQ

<div>
 
 Cloverly offers an API-based digital infrastructure for voluntary carbon markets (VCM). The Cloverly platform is used by both corporate buyers and project suppliers. Buyers can directly purchase carbon removal credits through its platform or integrate its technology into their products, services, or supply chains. Similarly, project suppliers leverage the Cloverly Marketplace and the supplier software, to manage commercial operations such as inventory management and tracking of carbon credit sales. The supplier platform offers carbon credits from suppliers including Therm, KOKO Networks and CarbonCure. For each carbon credit purchase, Cloverly produces a unique transaction receipt and certificate.&nbsp;
 
 
 Key customers and partnerships
 
 
 Leading companies such as American Express, Salesforce, Visa, have added Cloverly to their platforms to facilitate the purchase of carbon offset credits. The online gift card company, Instagift, also allows its customers to offset emissions through Cloverly. In November 2021, Clovery partnered with Diversifi to launch a service that offsets the crypto-carbon footprint. In May 2022, Cloverly also partnered with 
 <a href="https://sp-edge.com/updates/11507">
 BeZero Carbon
 </a>
 to obtain third-party ratings and independent quality assessments and 
 <a href="https://sp-edge.com/updates/11506">
 Redwood Logistics
 </a>
 to measure freight emissions and offset those via carbon credits in July 2022. In November 2023, the company also collaborated with Sustain.Life, a B2B carbon intelligence startup, to supply carbon credits. As of February 2024, the Cloverly platform was used by over 300 global enterprises.&nbsp;
 
 
 Funding and financials&nbsp;
 
 
 Cloverly&rsquo;s most recent funding was in May 2023, when it raised USD 19 million in a 
 <a href="https://sp-edge.com/updates/18533">
 Series A funding
 </a>
 round led by Grotech Ventures. In July 2021, Cloverly raised USD 2.1 million in a seed funding round led by TechSquare Ventures. As a part of the transaction, Cloverly was also spun out from Southern Company, an American gas and electric utility where it was incubated.
 
</div>

Cloverly

UK-based Giki offers two mobile apps to reduce the personal carbon footprint of its users:Giki Badges is an app that allows users to find sustainable and healthy products in supermarkets through 15 unique badges to UK supermarket products based on sustainability, health, and fairness. Customers can scan the product barcode to find the badges that are being awarded to the product. Giki Badges reported awarding badges to over 280,000 supermarket products.Giki Zero is an app that allows users to calculate and reduce the personal carbon footprint. Giki Zero estimates the personal carbon footprint of a user based on a lifestyle survey (a set of detailed questions about the user’s lifestyle) and provides customized advice to reduce the user’s carbon footprint. Giki Zero Pro is an extension of the same product for businesses which allows employees to monitor and reduce their carbon footprint.Key customers and partnershipsIn April 2023, Giki partnered with <a href="https://www.compass-group.co.uk/media/news/compass-partners-with-social-enterprise-giki-to-empower-its-45k-strong-workforce-to-reduce-their-carbon-footprint/">Compass Group </a>, a UK-based food and support services provider, to calculate and reduce the personal carbon footprint of its employees. As of March 2024, Giki had worked with over 100 global customers, including NatWest Group, Federated Hermes International, BBC, Deloitte, Adobe and Accenture, among others.

Giki

<div>
 
 Canada-based Metrio primarily offers SaaS-based Environmental, Social and Governance (ESG) reporting solutions for businesses. Metrio allows companies to monitor their ESG performance in real-time using dashboard tools to create customized reports based on any standard ESG framework. In addition to ESG reporting, Metrio also offers ESG industry benchmarking, supply chain ESG monitoring, and ESG investment management services.&nbsp;
 
 
 Key customers and partnerships
 
 
 In June 2022, Metrio was acquired by Nasdaq. After the acquisition, Nasdaq integrated Metrio&rsquo;s SaaS platform into its suite of ESG solutions. Metrio continued to remain an independent company and brand after the investment. 	
 
 
 As of January 2024, Metrio software was used by over 5,000 clients, including 100+ multinational companies across financial, food, manufacturing, retail, and transportation sectors. Major customers include Target, Air Canada, Decathlon, and Aldo.
 
</div>

Metrio

<div>
 
 Proof (formerly Proof of Impact) is an Impact-as-a-Service (IaaS) company based in the Netherlands. Proof offers a range of SaaS-based digital tools for businesses and investors to collect, verify, and analyze real-time sustainability data from community assessments, IoT devices, and corporate disclosures. The company also verifies and secures them using blockchain technology and presents them in a quantifiable form for sustainable decision making.&nbsp;
 
 
 
 
 Proof&rsquo;s services include: 1) Digital consultancy&ndash;digital assessments to create and deploy a company&rsquo;s sustainability strategy, 2) Impact dashboard&ndash;an end-to-end solution to collect, verify, analyze, and report sustainability data, and 3) Impact Catalyst Cloud&ndash;cloud-based tools and API solutions for tracking, verifying, and investing in sustainability projects. Proof also operates a marketplace for sustainability projects where investors may directly select, and fund verified sustainable projects.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In May 2023, the company 
 <a href="https://resources.proof.io/press-release-assetmetrix-and-proof-join-forces-to-offer-an-integrated-sfdr-focused-esg-solution-to-private-market-clients/">
 partnered
 </a>
 with AssetMetrix, a German-based next generation asset servicer, to offer an integrated solution for ESG data collection, reporting and optimization.&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 Proof&rsquo;s most recent funding was in August 2022, when it raised USD 6 million in a 
 <a href="https://sp-edge.com/updates/12037">
 pre-series A funding
 </a>
 round led by Rakuten Capital. Previously in December 2021, the company raised USD 2.3 million in a seed funding round led by Altera Investments.&nbsp;
 
 
 
</div>

Proof of Impact

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints of internal business operations including ESG management and reporting software. Excludes supply chain and other Scope 3 carbon intelligence solutions.

Software for offsetting business carbon footprints including carbon intelligence startups that also offer offsetting solutions. Primarily includes instant offsetting services and carbon trading marketplaces.

Pure-play software solutions to measure, monitor, and analyze personal carbon footprints.

Software solutions to reduce, and offset personal carbon footprints including carbon intelligence startups that also offer offsetting solutions.

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints from supply chains and other Scope 3 emissions.

Carbon trading marketplaces that allow individual and business users to buy and sell carbon offsets.

Solutions used improve carbon tracking transparency across internal and external business operations

Provides tools to monitor and offset CO2 emissions using reforestation, renewable energy credits, etc

Some carbon trading marketplaces are blockchain based (e.g., Nori)

Some carbon tracking companies use AI to measure and report CO2 emissions (e.g., Persefoni)

ANALYST_QUICK_TAKE

<div>
 A Japanese carbon accounting platform, Asuene, has established a new subsidiary named ASUENE (THAILAND) Ltd in Central Bangkok. In Thailand, the company launched its carbon accounting service "ASUENE" and ESG assessment tool "ASUENE ESG".
 Asuene successfully secured Thai Bridgestone, a subsidiary of Bridgestone, as a client and is currently in the process of hiring for various roles including a country manager, sales team, and customer success team to manage its operations in Thailand.
</div> Analyst QuickTake: 
 This expansion follows Asuene's previous entry into Singapore with Asuzero Singapore (November 2022) and the US with Asuene USA in California (November 2023) as part of its international expansion strategy.

Asuene

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