TOKYO, Japan August 15, 2023 – Brave group is pleased to announce the successful completion of their Series D First Close funding round raising 1.99 billion yen. Simplex Capital Investment Co. took charge as the lead investor, with additional fundraising courtesy of Tokyo University of Science Innovation Capital Co, Money Forward Venture Partners, Inc. (HIRAC FUND No. 2 Investment Limited Partnership),Revamp Co, and Adways Ventures Inc. Thanks to these five companies, Brave group will be able to continue focusing on their global expansion by strengthening M&A, alliances, and recruiting activities in Japan and overseas. With these five companies’ contributions, Brave group has cumulatively raised 5.03 billion yen.

Fundraising Background & Goals

A company leading in a wealth of industries, Brave group developed The Virtual eSports Project Vspo! and The Virtual Music Agency RIOT MUSIC as part of its IP efforts, the ME Campus Virtual School using their own 3D creation tool the Brave Engine as part of its platform development business, and the CR Gaming School, along with incubating other AI and Web3 efforts.

Since the beginning of this year, in addition to establishing multiple overseas offices, the company has been accelerating its global IP-based efforts by holding global auditions for the English-speaking, Chinese-speaking, and European markets.

Taking this generous fundraising opportunity, the Brave Group aims to grow its overall business, including their Platform and Incubation businesses, by the aforementioned strengthening M&A, alliances, and recruitment activities in Japan and overseas, as well as by engaging with operating companies and CVCs.

Vspo!: https://vspo.jp/
RIOT MUSIC: https://riot-music.com/
Brave Engine: https://metalab.co.jp/brave-engine.html
ME Campus: https://mecampus.org/
CR Gaming School: https://cr-gs.jp/

List of Investors

•  Simplex Capital Investment Co.
• Tokyo University of Science Innovation Capital Co.
• Money Forward Venture Partners (HIRAC FUND No.2 Investment Limited Partnership)
• Revamp Corporation　
• Adways Ventures Inc.

■Investor’s Comments

・ Simplex Capital Investment Co. President: Hiromasa Mizushima

I am impressed by President Noguchi’s strong determination to develop a world-class IP business from Japan via his ability for execution that goes beyond a simple VTuber agency. We are very glad to be taking on the role of lead investor for Brave group at this time. For many years, our group has been managing funds based on a strategy of working with the management of listed companies to enhance their value, and our track record has been highly evaluated by both management and investors. This time, we’re bringing our expertise to unlisted companies, and the first investment will be in Brave group.

We will support Brave Group’s further growth as an investor and partner to grow the business together in the future.

・Tokyo University of Science Innovation Capital Co. Managing Partners: Yuichi Katayose, Hisanori Takada

The Tokyo University of Science Venture Fund (TUSIC Investment Limited Partnership) brings investment and support to companies that develop advanced technologies and provide services in hopes of soundly contributing to society. As the technology that forms the basis of Brave group’s business evolves at a rapid pace, a digital marketing approach that hones in on “enthusiasm” has become invaluable. Together with Brave group’s management team, we will work to enhance the essential competitiveness of the company’s technology, assist in obtaining patents, conduct joint research on the metaverse, and work with the company’s data scientists to identify practical issues and apply the results to business.

・Tokyo University Of Science Professor Emeritus: Mathematician Hitoshi Akiyama

Currently, the disparity in the quality of education is causing serious social fragmentation. There are people who are physically unable to attend school, whether they live in urban areas or not, and whether for economic reasons, due to physical or mental illness, or due to age. It is important to overcome those problems so that everyone can receive a quality education.I have great expectations for the Brave group as they begin to pioneer and embark on opportunities for people to enjoy learning about their areas of interest and subjects they wish to learn about through their favorite avatars, a kind of alter ego, in the metaverse space.

・Money Forward Venture Partners (HIRAC FUND No.2 Investment Limited Liability Partnership) Director: Tsuji Yosuke

We are very pleased to be working with Brave group in this round. We believe that the rapidly growing Virtual IP business is one that has the potential to make great strides from Japan to the world. We also believe in this industry’s potential to bring innovative technologies such as the Metaverse and Web3 closer to people and provide them with new experiences. HIRAC FUND will fully support Brave group to challenge not only the domestic but also the global market with their Virtual IP business and provide excitement and new entertainment to eager participants worldwide.

・ Revamp Corporation Director & CFO: Takuya Oyama

Steeped in our base philosophy of “energizing companies from the core,” we provide management support and corporate investment in the three core areas: Management, DX, and Investment.

Brave group develops Vspo! and other popular content as a virtual starting point to their now multifaceted business. In particular, we believe that the metaverse domain is highly scalable for business and useful for expanding the scope of our management support services, which we believe can be utilized swimmingly for marketing support. We hope to grow together with Brave group through spirited collaboration in management support projects and cooperation with companies taking advantage of Brave group’s platform business.

■Brave group President Keito Noguchi’s Comment:

We are pleased to announce that we have been fortunate enough to receive the first close investment from five excellent companies. All of our investors will accompany us in business development, including alliances and joint research. We started our VTuber endeavor in 2017, and as of August 2023, VTubers are attracting more attention globally than ever, which also has led to a rise in aspirational VTubers.

In the future, we will not limit ourselves to the domestic market and VTuber business, but will accelerate business development, M&A, alliances, etc., both domestically and internationally, focusing on other emerging areas.