January 19th, 2024
MCP Asset Management (Japan), Inc.

2nd Closing of Japan Evolution FundJapan Evolution Fund, L.P.S., a Japanese limited partnership managed by MCP Group (the “Fund” or “we”) is
delighted to announce that we have come to a second closing, receiving new investments from Development Bankof Japan, Inc. (“DBJ”) and AMITA HOLDINGS CO.,LTD (“AMITA”).
The Fund was initially established in March 2023 with the support of investors, including five leading Japaneseinstitutional investors. We have so far invested in a total of six companies, mainly startups in the Kyushu region,
primarily as lead investors.
Since the establishment of the Fund, MCP Group has been actively working to support Japanese startups in theiroverseas expansion and decarbonization management, as well as to accelerate collaboration with local government
and universities, attract foreign investors and entrepreneurs, and establish the international financial functions thatJapanese government is aiming for.
Overview of the FundWith the investment philosophy of generating globally competitive companies from Japan, the Fund ischaracterized by (1) lead or quasi-lead investment in mid-stage and later-stage startups that have completed theproof-of-concept stage, and (2) support for growth strategy by leveraging MCP Group's network and partnershipsthat have connected Japan with overseas markets for over 20 years.

Fund NameJapan Evolution Fund, L.P.S

General Partner

JEFGP, LLP

Limited Partner

The Nishi-Nippon City Bank, Ltd., Nishi-Nippon Railroad Co., Ltd., The Bank ofFukuoka, Ltd., Sumitomo Mitsui Trust Bank, Ltd., The Higo Bank, Ltd., Development
Bank of Japan Inc., AMITA HOLDINGS CO.,LTD

Fund Size

Targeting over 5 billion yen at the time of final closing

Investment Target

Japanese companies that provide technological solutions to social and environmental
issues through ESG initiatives and/or develop deeptech innovations arising fromuniversities to compete on a global scaleTerm

10 years from March 2023

Future Initiatives
We plan to launch a Cayman-domiciled fund for overseas investors that will make parallel investments in the samestartups.
We anticipate that more investors will participate both in the Fund and Cayman-domiciled fund by the final closescheduled for mid 2024. Together with Cayman-domiciled fund for overseas investors, we expect to achieve a total
AUM of 5 billion yen or more.

About MCP Group〈MCP Group Overview〉
MCP Group is an alternative investment management group based in Hong Kong with offices in Japan (Tokyo andFukuoka), the United States and South Korea. The MCP Group includes a Japan financial instruments business
operator MCP Asset Management (Japan), Inc. and a risk management service provider Millennium Fund Services(Japan) Limited.
URL:
https:/www.mcp-am.com/〈MCP Tokyo Office〉
Name:
Location:
Representative:
Date of establishment:
URL:〈MCP Fukuoka Office〉
Name:
Location:
Representative:
Date of establishment:

MCP Asset Management (Japan), Inc.
18F, KDDI Otemachi Building, 1-8-1 Otemachi, Chiyoda-ku, Tokyo
Tetsuya Tanaka, Representative Director
August 30, 2006
https://www.mcp-am.jp/

MCP Japan Holdings Limited
7F, Tenjin Building, 2-12-1 Tenjin, Chuo-ku, Fukuoka City, Fukuoka
Prefecture
Shun Fujii, President and Representative Director
July 19, 2021

Inquiries regarding this matter
Please contact us using the inquiry form on the fund website.
URL:
https://www.mcp-jef.com/

This press release is for the sole purpose of making a general public announcement of MCP Group's activity results
and is not intended in any sense as a solicitation for the acquisition of equity interests in the Fund or othersecurities.