Peter Thiel’s VC firm backs Coral Capital’s new $128m fund

Coral Capital, a seed-stage venture capital firm formed by the former 500 Startups Japan team, announced the first and final close of its newest 14 billion yen (US$128 million) fund.

nMore detailsnnnInvestors: Mizuho Bank, Mitsubishi Estate, Shinsei Bank, Pavilion Capital, Peter Thiel’s Founders Fund, Dai-ichi Life Insurance, and Gree, plus undisclosed domestic and international institutional investorsnnAverage ticket size for investments: First checks of US$500,000 to US$5 million and larger follow-on investment roundsnnAmount raised: 14 billion yen (US$128 million)nnStage: Final closennSectors: UnspecifiednnMore company updatesnnThe latest fundraise brings the total assets under management of Coral Capital, an investor in Japanese unicorn SmartHR, to about US$275 million.nAbout 30% of the raised amount came from global investors across the US, Asia, and Europe, the firm noted.nYohei Shirata, who was previously with Tokyo-based Persol Career, has joined Coral Capital to lead its executive recruiting efforts. The VC firm also plans to announce another appointment to bolster its community building initiatives.nOther companies in Coral Capital’s portfolio include Anyflow, UMed, and Shippio.nn

Currency converted from Japanese yen to US dollar: US$1 = 109.88 yen.