Mori Building Establishes 10 Billion JPY "Mori Building Innovation Fund"

Tokyo, April 14, 2026 — Mori Building Co., Ltd., Japan's leading urban landscape developer, announced the establishment of a 10-year, 10 billion JPY corporate venture capital (CVC) fund today. The fund, called the Mori Building Innovation Fund Investment Limited Partnership, was created in partnership with Spiral Innovation Partners LLP, a subsidiary of Spiral Capital Inc. Through the fund, which was officially established in February, Mori Building aims to accelerate Tokyo's evolution by investing in next-generation startups and leveraging the facilities and platforms of its innovation ecosystem. The company's Toranomon Hills and Azabudai Hills mixed-use complexes in Tokyo will serve as the primary locations for implementing the forward-looking initiatives that result from this dual-engine approach.

For Tokyo to succeed in the fiercely competitive global landscape and continue attracting people, goods, capital and information from around the world, the city must perpetually foster innovation and drive the evolution of its urban society and industries. However, according to the Mori Memorial Foundation's Global Power City Index (GPCI) 2025, Tokyo ranks just ninth out of 48 global cities in the startup sector, underscoring the urgent need for Tokyo to promote the creation and growth of next-generation companies.

Mori Building is a longtime leader in urban innovation. Through its operation of diverse incubation facilities in Toranomon Hills and Azabudai Hills, the company has facilitated the formation of multi-layered communities of experts and promoted the co-creation of wide-ranging corporations. In building this innovation ecosystem over many years, Mori Building has supported startups through investments by limited-partner venture capital funds based in Japan and overseas. The establishment of the new fund will accelerate the enhancement of this unique ecosystem comprised of innovation facilities, such as ARCH Toranomon Hills and the Tokyo Venture Capital Hub. Ultimately, this initiative is expected to strengthen Tokyo's global competitiveness.

The Mori Building Innovation Fund invests in Japanese and offshore startups capable of contributing to the innovation ecosystem supporting Tokyo's ongoing evolution, not just those with growth potential. Portfolio companies benefit from opportunities to use Mori Building's mixed-use complexes, including Azabudai Hills, Roppongi Hills and Toranomon Hills as real-world sites for implementing new ideas, and to collaborate with the company's extensive network of innovation facilities.

The fund invests in and pursues co-creation with startups across a wide range of industries and stages, focusing on the following core themes:

• Development of Urban Infrastructure and Industries

  Smart buildings, energy optimization, disaster preparedness & resilience, mobility, urban operating systems, AI, semiconductors, aerospace, robotics, and cybersecurity

• Creation of New Value and Experiences in Cities

  Entertainment, tourism, food & crafts, luxury, community, and media

• Synthesis of Urban Knowledge, Co-Creation and Global Networks

  Enterprise collaboration, cross-industry platforms, research commercialization, education, entrepreneurship development, global expansion, and cross-border co-creation