GLP-backed Monoful Venture Partners holds $96m first close

Monoful Venture Partners (MVP), a wholly owned subsidiary of GLP, has completed the first close of its maiden fund Monoful Venture Partners I (MVP I) with 12.9 billion yen ($96 million) in commitments. MVP is the venture capital arm of GLP that invests in growth-stage startups in the logistics and real estate ecosystem in Japan.

GLP has been backing startups in Japan since 2018 with a focus on investing and supporting companies in sectors that can support the logistics and real estate ecosystem including robotics and artificial intelligence, fintech, and e-commerce. MVP leverages GLP’s network, partnering and collaborating with portfolio companies to expand their logistics ecosystem. Upon establishment of MVP, it will, by the end of year 2022, invest in five portfolio companies.

“We are very pleased with the successful first close of Monoful Venture Partners I. The logistics industry is continuing to evolve and modernize to support a changing workforce and new logi