Cool Japan Fund Inc.
Tokyo, July 23, 2019
Cool Japan Fund Backs Direct-to-Consumer Winery, Winc,
to Increase Demand for Japanese Sake Among U.S. Consumers

With Japanese Sake as one of its core investment themes, Cool Japan Fund has researched thewine distribution network in depth, including its complexities related to logistics and regulation.
The company is pleased to announce USD10m investment in US based wine D2C player, Winc,
in its quest to bring Japanese Sake to a wider consumer base and appeal to the fastest growing
part of the market sector, made up of millenial and Gen X wine drinkers.
Recently named one of the 50 Most Innovative Companies worldwide by Fast Company, Winc
has become one of the most culturally relevant wine companies to date. As a digital-first,
vertically integrated winery, Winc’s unique model enables real time product testing, validation,and brand building. The result is one of the most unique and diverse wine programs that theindustry has ever seen. Winc leverages it's direct connection to members and immediate accessto consumer feedback to create consumer-led brands better suited for the modern wine drinker.
These brands can be found not only through its successful e-commerce subscription format, butmany wholesale accounts who serve the other channels where consumers in the United Statespurchase and enjoy sake and other wine beverages.
“At home consumption of Sake is much lower in the US than it should be and the opportunity
to tell the story of Sake and deep cultural history to Winc’s growing customer base is anincredible opportunity to take advantage of this underserved market” - Geoff McFarlane -CEOWinc
Cool Japan Fund envisages leveraging Winc’s strong D2C platform and marketing expertise todesign, produce and co-develop a Japanese Sake product made by Japanese producers that appeals
to a younger demographic. Cool Japan Fund is excited by how this investment will further its
commitment to the sustainable, long term growth of Japanese sake in the North American market.
“Winc’s digital first platform creates a unique opportunity to connect the rich history andcraft of Sake with the emerging Gen X and Millennial consumers. We’re extremely excited toshare these stories and products with a new audience.” - Brian Smith - President Winc

About Winc: After launching in 2012 with the goal of making discovering great wine easy, Winc
continues to reinvent the wine industry. Driven by the vision of a great bottle on every table anda great story in every bottle, Winc seeks to create great experiences through a love for culture, apassion for quality, and a commitment to innovation. By bringing ease and exploration to theprocess of buying and enjoying exceptional bottles of wine, ranging from classic blends to obscure,single vineyard fringe projects, Winc is breaking down barriers to a complex world. The
company's direct connection to the customer and unrivaled access to consumer insights help shapethe development of iconic brands like Summer Water, the viral hit embodying the rosé state ofmind, and Folly of the Beast, the supremely accessible Pinot Noir of uncompromising quality. In
addition to its online subscription service, Winc’s sought-after brands are available in progressive
restaurants and premium retailers nationwide. Winc is based in LA’s Silicon Beach. Learn more
at winc.com.

Contact for details regarding this document:
Cool Japan Fund (PR representatives: Yuge, Okuyama) Tel 03-6406-7500