Mori Building Launches ¥10 Billion Venture Fund to Bridge Urban Development and Tech Innovation
Mori Building, Japan’s prominent urban landscape developer, has announced the launch of a ¥10 billion ($65 million) corporate venture capital (CVC) fund, signaling a strategic shift toward integrating high-tech innovation with large-scale real estate development.
The “Mori Building Innovation Fund,” established as a 10-year partnership with Spiral Innovation Partners, aims to revitalize Tokyo’s standing as a global startup hub. The move comes as a response to the 2025 Global Power City Index, which ranked Tokyo ninth in startup attractiveness, trailing other global financial centers.
A “Dual-Engine” Investment Strategy
The fund introduces what Mori Building describes as a “dual-engine approach.” Unlike traditional venture capital, this vehicle combines direct financial investment with access to the company’s massive physical infrastructure. Portfolio companies will be granted “proving grounds” within Mori’s flagship developments—including Azabudai Hills, Roppongi Hills, and Toranomon Hills—to test and scale technologies in real-world urban environments.
The investment policy focuses on three primary pillars:
Urban Infrastructure: Smart building technologies, AI, robotics, mobility, and cybersecurity.
City Experiences: Innovation in tourism, luxury, and media.
Knowledge Networks: Cross-industry platforms and global expansion initiatives.
Leveraging an Established Ecosystem
The fund is designed to plug directly into Mori Building’s existing incubation network, which has matured over the last several years. This includes the Tokyo Venture Capital Hub in Azabudai Hills, which currently houses approximately 70 independent and corporate VC firms, and ARCH Toranomon Hills, an “innovation outpost” for large-scale corporate business creation.
By leveraging these facilities, Mori Building intends to provide startups with more than just liquidity. Portfolio companies will gain access to a multi-layered community of experts, government bodies, and potential corporate partners.
Global Connectivity
Recognizing the need for cross-border synergy, the fund will also coordinate with the Japan Innovation Campus in Silicon Valley. This connection is intended to provide a two-way pipeline: helping Japanese startups expand into the U.S. market while assisting international tech firms in establishing a foothold in Tokyo.
A spokesperson for Mori Building indicated that the ultimate goal of the fund is to enhance the “magnetic power” of Tokyo, ensuring the city remains competitive in attracting global capital, talent, and information. The fund, which officially launched in February 2026, marks a significant commitment by the developer to move beyond traditional leasing and into the role of a strategic architect for the future of urban industry.