Real Tech Global Fund 2 (“RTFG2”), a Southeast Asia–focused deep tech venture capital fund managed by UntroD Capital Asia Pte Ltd (“UCA”), is pleased to announce that SMBC Nikko Securities Inc.(“SMBC Nikko”), a leading Japanese securities firm with extensive experience supporting IPOs of deep tech startups, has joined the fund as a new limited partner.

Through this partnership, UCA will continuously strengthen its platform for supporting Southeast Asian deep tech startups as they accelerate into growth stage and potential listings on the Tokyo Stock Exchange (TSE).

Over the past six years, UCA has built a portfolio of more than 20 deep tech startups across Southeast Asia, providing hands-on value creation support through its global fund platform.
Historically, mergers and acquisitions led by local conglomerates or global corporations have been the primary exit routes for startups in the region. In recent years, however, listing in the Japanese public markets—particularly on the Tokyo Stock Exchange—has emerged as an increasingly attractive option.

Reflecting this trend, the Tokyo Stock Exchange launched the “Asia Startup Hub” initiative in 2024 to support high-potential Asian startups in entering Japan, raising capital, and pursuing IPOs.
Both SMBC Nikko and UCA are official partners of the Asia Startup Hub, working together to support startups to benefit from this initiative .

This partnership is strategically significant for both parties, as it represents:
– A participation of a major securities firm in Real Tech Global Fund 2
– SMBC Nikko first investment in a deep tech-focused venture capital fund in Southeast Asia

Through combining SMBC Nikko’s deep expertise in pioneering and challenging IPOs—including those involving regulatory reforms, industry-first transactions, deep tech listings, and the unique achievement of listing a foreign company led by a foreign CEO in Japan—with UCA’s experience supporting deep tech ventures across Southeast Asia, the partnership enables portfolio startups to receive earlier, constructive, and market-ready support for public listings.

Head of Private Corporate Finance Division
Senior Managing Executive Officer,
Mr. Hitoshi Tsuboi

UntroD has been a pioneering Japanese venture capital firm, leading the way in building a deep tech ecosystem in the rapidly growing Southeast Asian region. In particular, Representative Director Mr. Maru has demonstrated a strong presence not only among local startups but also with various governments across the region.
SMBC Nikko looks forward to UntroD’s bold challenge of building a deep tech ecosystem in Southeast Asia, and hopes that this will lead to the creation of unicorn companies originating from Asia. As a member of the ecosystem established by UntroD, we will support Southeast Asian startups in their entry into the Japanese market.

UCA will continue to advance its mission through:
– Supporting the expansion of Southeast Asian deep tech startups into Japan
– Facilitating commercial partnerships, pilot projects, and joint initiatives with Japanese corporations
– Providing long-term, hands-on support for growth strategies with a view toward TSE listings

Through these efforts, UCA aims to build a practical, execution-oriented innovation flywheel connecting SoutheastAsia and Japan.

With SMBC Nikko’s joining RTFG2, UCA will further deepen its collaboration with Japan’s capital markets and corporate partners, continuing to support the creation and global scaling of the next generation of deep tech companies.

UntroD Capital Asia is a leading deep-tech VC firm dedicated to fostering impactful technologies that drive sustainable growth. As the manager of the Real Tech Global Fund, UntroD Capital Asia partners with innovative startups and businesses addressing global challenges in sectors such as energy transition, sustainable agri-food, and industrial manufacturing. UntroD’s hands-on approach and industry network provide portfolio companies with the resources and expertise needed to scale their operations and achieve lasting impact.