MPower Partners announces its investment in Heralbony
as lead investor

December 4, 2023; Tokyo, Japan: MPower Partners Fund, Japan’s first ESG-focused global
venture capital fund, has invested in Heralbony Ltd. (Iwate, Japan), a startup creating B-to-B
projects and consumer products with art licenses of unique works created by artists withintellectual disabilities.

To promote a sustainable business for both its own company and partner artists, Heralbony
has adopted a scheme in which license fees are paid to artists based on the revenues
generated from each project or product. As Heralbony has grown, annual royalty payments
to artists have increased 8.7x over the past two years. While the average monthly wage at awelfare facility is a mere 15,776 JPY* (figure for “Support for Continuous Employment TypeB” in Japan, which is granted to individuals with disabilities that hinder their employment), ),several of Heralbony’s partner artists have recently reported annual incomes exceeding
several million JPY and even filing income tax returns.

■ Global market expansion from 2024

Today, there are 1.3 billion people with disabilities in the world. This translates toapproximately 1 in every 6 persons with some form of disability**. Using “art” as a common
value that transcends borders, Heralbony hopes to tap into overseas markets from 2024
onward.

■ MPower Partners’ investment as lead investor

MPower Partners supports Heralbony’s vision “Unleash your extraordinary within” and has
invested in the company as a lead investor. We are honored to become a new partner for
Heralbony, which aims to achieve both sustainable topline growth and build the groundwork
for a more inclusive society.
We are also pleased to announce that Miwa Seki, our General Partner, will join Heralbony asa board director to help strengthen the team’s management and governance structures, aswell as assist with its overseas expansion.
Cited(*) Japanese Ministry of Economy, Trade, and Industry “厚生労働省 障害者の就労支援対策の状況（令和2年度）”(**) World Health Organization “Disability: Key Facts”

Heralbony’s Press Release regarding this round (Japanese)
https://prtimes.jp/main/html/rd/p/000000243.000039365.html■ About Heralbony
Company Name: HERALBONY Co.,Ltd.
Location: 2-38 Kaiunbashi-dori, Morioka-shi, Iwate
代表取締役 Co-CEO: Takaya Matsuda, Fumito Matsuda
Corporate URL: https://www.heralbony.jp
Online store: https://store.heralbony.jp/

■ About MPower Partners
MPower Partners Fund is Japan’s first ESG-integrated global venture capital fund that aims
to support entrepreneurs providing solutions to societal challenges through the power oftechnology, and to promote sustainable growth by incorporating ESG (Environment, Social,Governance) into their core business strategies.
For more information, please visit: https://www.mpower-partners.com
For inquiries, please contact: info@mpower-partners.com

This press release has been prepared for the purpose of providing information to qualified
institutional investors and potential portfolio companies of the Fund, and is not a disclosure
document pursuant to the Financial Instruments and Exchange Act, and does not constitutea solicitation or recommendation to purchase the Fund.