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JR East Start Up
JR East Start UP is the CVC arm of East Japan Railway, based in Tokyo, Japan. It has made 63 investments, including a Series B - III investment in Ugo on March...
JR East Start Up
JR East Start UP is the CVC arm of East Japan Railway, based in Tokyo, Japan. It has made 63 investments, including a Series B - III investment in Ugo on March 19, 2026. The firm has 10 portfolio exits, with PicoCELA exiting on January 16, 2025.
General information
Firm type
Corporate Venture Capital
Year founded
2018
Location
Region
Asia
Country
Japan
City
Tokyo
Corporate office
TokyoYard Building 6·7F, 2-21-42 Takanawa, Minato-ku, Tokyo, 108-0074, Japan
Principals
Yutaka Shibata
Representative Director and President
Sector focus
Frequently asked questions
How does JR East Start Up source its portfolio companies?
The firm runs a bi-annual open-call program called the JR East Start Up Program, which solicits proposals around three themes: Regional Co-creation, Digital Co-creation, and Earth Co-creation (SDGs). The spring 2026 call alone drew 191 proposals from which seven were selected for collaboration and potential investment. The firm also runs a separate demand-side initiative, Startup on Demand, that publishes specific operational challenges from JR East Group companies.
What investment stages does JR East Start Up typically target?
The firm operates as a stage-agnostic strategic investor, backing ventures from early prototype through growth-stage expansion as long as the business case ties to JR East’s infrastructure. Portfolio companies range from early-stage robotics startups like Connected Robotics to more mature mobility-services platforms such as WAmazing, which services inbound tourists.
Does JR East Start Up co-invest alongside external venture capital firms?
While it does not publicize a formal co-investment policy, its standard model — forming a capital business alliance — involves direct equity stakes alongside a commercial collaboration agreement. The firm has historically acted as a lead or sole strategic investor in its portfolio companies, with no disclosed club-deal or syndicate structures.
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