Japanet increases its VC fund to $200 million, four times its previous amount, following impressive returns from early investments in Anthropic and xAI.

      Summary: Japanet Holdings, the Nagasaki-based Japanese TV shopping firm, has increased its venture capital fund from $50 million to $200 million following successful early investments via Pegasus Tech Ventures in Anthropic, xAI, SpaceX, and OpenAI, which yielded remarkable returns. Anthropic, for instance, rose from a $550 million valuation in 2021 to $380 billion in 2026. This move is part of a broader trend of Japanese investment in AI, with SoftBank pledging $41 billion to OpenAI, the Japanese government launching a $6.34 billion AI initiative, and infrastructure spending on AI in Japan expected to reach $5.5 billion this year.

      Japanet Holdings, recognized for offering kitchen appliances and electronics to seniors in Nagasaki, has expanded its venture capital fund to $200 million after its initial investments in Anthropic, xAI, SpaceX, and OpenAI yielded returns that significantly outpaced the original $50 million fund. This announcement marks the evolution of a five-year-old venture capital experiment from a family-run infomercial company into a noteworthy player in AI investing, having ventured into promising AI firms before many institutional investors were aware of the potential.

      The fund, initiated in March 2021 in partnership with Pegasus Tech Ventures, aimed to connect global startups with Japanet’s operations in Nagasaki, particularly its $650 million Stadium City project. Originally, it was not meant for achieving venture-scale returns in AI, yet early investments in Anthropic and xAI have skyrocketed in value. Anthropic, which was valued at $550 million during its Series A in May 2021, secured $30 billion in funding in February at a valuation around $380 billion and is reportedly considering offers exceeding $800 billion. Similarly, Elon Musk’s xAI reached a $230 billion valuation in January before its acquisition by SpaceX in February as part of a combined valuation of $1.25 trillion.

      Japanet's venture into AI began with a camera shop. Akira Takata, born in Nagasaki in 1948, took over his family’s camera business and in 1986 transformed it into a mail-order venture. He was an innovator in radio shopping on NBC Nagasaki Broadcasting before moving to television, ultimately establishing Japanet Takata as Japan’s leading home shopping network. The company markets a diverse range of products from air conditioners to tablets, primarily aimed at an older Japanese audience, through infomercials that highlight simplicity and value. Revenue for fiscal 2023 reached 262 billion yen, approximately $1.7 billion. Akira retired in 2015, and now his son, Akito Takata, manages Japanet Holdings and its 13 subsidiaries with around 2,000 employees.

      Under Akito's leadership, Japanet diversified into sports and regional developments, acquiring the professional football club V-Varen Nagasaki in 2017 and establishing the basketball team Nagasaki Velca in 2020. In October 2024, it launched Nagasaki Stadium City, a 100 billion yen complex featuring a 20,000-seat stadium, a 6,000-seat arena, a hotel, and commercial facilities. This development included smart city technology in collaboration with SoftBank, integrating AI-driven crowd management and sensor-based logistics, along with a dedicated app for service.

      Japanet's venture fund, which has allocated about 70% of its capital to US and European startups, focuses on generative AI, robotics, and space technology, with investment amounts typically ranging from $100,000 to $5 million. Although Japanet and Pegasus did not disclose specific investment figures for Anthropic and xAI, it’s evident that significant appreciation has occurred. For example, a $1 million investment in Anthropic at its 2021 valuation would now be worth approximately $690 million at its current $380 billion valuation, in addition to other holdings in SpaceX and OpenAI.

      Anis Uzzaman, founder of Pegasus Tech Ventures, stated, “Everybody wants a piece of the Silicon Valley AI action,” highlighting the opportunity for Asian corporations to invest and discover new technologies. Akito Takata expressed enthusiasm for leveraging the fund to explore new technologies and create value for customers' daily lives.

      Japanet’s fund expansion reflects a rising trend of Japanese investment in AI. SoftBank's $41 billion commitment to OpenAI increased its stake to 11%, yielding a $4.2 billion gain. The Japanese government has also announced a $6.34 billion scheme over five years to support domestic AI development, while AI infrastructure spending is anticipated to surpass $5.5 billion in 2026, marking a sevenfold increase since 2022. As Japanese firms invest significantly, Hitachi raised its fourth fund to $400 million, pushing its total allocation beyond $1 billion, and Fujitsu Ventures invested in Sakana AI and QunaSys.

      Despite the impressive returns on paper, there are concerns regarding the liquidity of these