Coral Capital, a Tokyo-based venture capital firm, announced today that it has closed its third fund, Coral Capital III, raising $128 million (14 billion yen). Coral Capital’s total assets under management (AUM) is now $275 million. Limited partners in the vehicle include Mizuho Bank, Mitsubishi Estate, Shinsei Bank, Pavilion Capital, Founders Fund, Dai-ichi Life Insurance, GREE, and undisclosed domestic and international institutional investors. Coral Capital, founded by two partners James Riney and Yohei Sawayama, will continue to invest in seed and early-stage companies in Japan, deploying first checks from $500,000…
