Key facts
- Animal Spirits fund closed its second round of commitments on September 29, 2026.
- Total committed capital reached $43.1 million.
- The fund targets social challenges and the industrialization of Japanese technology.
- Investments include Cross Sector, ElevationSpace, cosmobloom, and Kikuvi.
Japanese venture firm Animal Spirits announced on September 29, 2026, that it had closed its second fund, the Animal Spirits 26 Investment Limited Partnership, with total committed capital of approximately $43.1 million. The fund has a target size of $46.2 million to $61.5 million and focuses on social challenges and the industrialization of Japanese technology under themes of 'protecting the nation' and 'opening frontiers.' Since its launch on April 30, 2026, the fund has already invested about $5.38 million across four companies, including Cross Sector, ElevationSpace, cosmobloom, and Kikuvi. The second close saw new institutional investors join, including SME Support Japan, Sumitomo Mitsui Trust Bank, Seibu Shinkin Bank, Yamanashi Chuo Bank, and Yamaguchi Bank.