About Us

Incubate Fund is a leading seed-focused venture capital fund originally from Japan. We have invested in more than 200 startups in Japan and other parts of Asia. In 2016, we set up an India dedicated fund with a focus on pre-seed and seed stage startups. This is Incubate Fund India. Incubate Fund Group has offices in Tokyo, Singapore, Bangalore, and Mountain View.

Since we have invested in 200+ startups all over Asia, we have massive case studies of success and failure of startups. We provide hands-on support and mentoring for all of our portfolio startups based on these studies and experiences. Also, with utilising our strong networks and connections in Japan and other parts of the world, we will support Indian startups to go global.

About Us

Incubate Fund is a leading seed-focused venture capital fund originally from Japan. We have invested in more than 200 startups in Japan and other parts of Asia. In 2016, we set up an India dedicated fund with a focus on pre-seed and seed stage startups. This is Incubate Fund India. Incubate Fund Group has offices in Tokyo, Singapore, Bangalore, and Mountain View.

Since we have invested in 200+ startups all over Asia, we have massive case studies of success and failure of startups. We provide hands-on support and mentoring for all of our portfolio startups based on these studies and experiences. Also, with utilising our strong networks and connections in Japan and other parts of the world, we will support Indian startups to go global.

Our Team

We are a Partner, not just an Investor

Nao Murakami

Founder & General Partner
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Masahiko Honma

Co-founder & Partner
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Rajeev Ranka

Principal
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Dave Kwong

Principal
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Portfolio

Industry Builders with Strong Conviction and Passion
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Yulu

Yulu

Yulu is the leading shared micro-mobility service provider urban India.

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Tripeur

Tripeur

Tripeur is a bot-based corporate travel management solution

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ShopKirana

ShopKirana

Building India’s biggest Go-To-Market platform for brands.

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Gourmet Garden

Gourmet Garden

Gourmet Garden is first full-range F&V brand in the country, offering zero-contamination veggies and fruits.

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Plum

Plum

Plum provides high quality health insurance and health benefits for employees at an affordable price.

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Captain Fresh

Captain Fresh

B2B marketplace leveraging technology to deliver the fastest Fresh Fish and Sea food to retail industry.

See All

News

First Round, Lead Position - Welcome to our Community
General News
Incubate Fund India portfolio Plum raises $4.1 Mn from Sequoia Capital India’s Surge and Tanglin Venture Partners
26/11/2020
General News
Gourmet Garden bags funding from Incubate Fund India, Whiteboard Capital
12/10/2020
General News
Seafood Supply Chain Platform Captain Fresh Raises $2.3 Mn in Funding from Incubate Fund, Ankur Capital and Others
17/08/2020
General News
Group health insurance startup Plum raises Rs 7 Cr in seed round led by Incubate Fund
14/07/2020
General News
GigIndia raises Rs 7.3 Cr in pre-Series A round led by Incubate Fund
13/07/2020
General News
Nimble acquired pet parent community startup Waggle
13/07/2020
General News
Yulu raised $4M Pre-Series B from Rocketship and others
28/06/2020
General News
Incubate Fund India lead WizKlub’s $1M seed round
30/01/2020
General News
Yulu raised $8M Series A from Bajaj Auto
27/11/2019
General News
ShopKirana raised $10M at Series B
17/08/2019
General News
Incubate Fund organized Asia Leaders Summit 2019 in Bangalore
19/07/2019
General News
Yulu is selected as “Emerging Start-up of the Year” by Entrepreneur magazine
18/07/2019
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Testimonials

Here are what our portfolio founders say about us
  • Japanese investors see India as one of the most strategic markets. Incubate Fund India has a deep commitment to the Indian market with its Founding partner Nao-san based here. They bring a vast connection to late-stage investors in Japan. I have personally found the team to be very approachable, always there whenever we needed help. I highly recommend partnering with Incubate Fund for your entrepreneurial journey.

    Amit Gupta, Yulu

  • I feel proud to say ShopKirana was the first investment of Incubate Fund (IF) in India. If I were to summarize IF's approach to investing, it would be "taking the journey together". My message to any founder looking to raise seed capital is to find someone who will connect with and believe in your company's vision and for Shopkirana IF certainly met and exceeded that bar. IF yearly events makes you feel part of a big family where companies across the globe come to learn and grow together.

    Sumit Ghorawat, Shopkirana

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