Japanet Quadruples VC Fund to $200M After Early Anthropic and xAI Bets Deliver Extraordinary Returns
Japanet Holdings, the Japanese TV shopping company based in Nagasaki, has quadrupled its venture capital fund to $200 million after early investments through Pegasus Tech Ventures in Anthropic, xAI, SpaceX, and OpenAI generated extraordinary paper returns. Anthropic alone has appreciated from a $550 million valuation in 2021 to $380 billion in 2026. The expansion is part of a broader wave of Japanese capital flowing into AI, with SoftBank committing $41 billion to OpenAI, Japan’s government launching a $6.34 billion AI scheme, and Japanese AI infrastructure spending projected to hit $5.5 billion this year.
A Family-Run Infomercial Business Turns to AI Investing
Japanet Holdings, known for selling kitchen appliances and electronics to retirees in Nagasaki, has quadrupled its venture capital fund to $200 million after early investments in Anthropic, xAI, SpaceX, and OpenAI generated impressive returns. The fund, launched in March 2021 with Pegasus Tech Ventures as general partner, was designed to connect global startups with Japanet’s operations, not necessarily aiming for venture-scale returns on AI companies.
However, early investments in Anthropic and xAI, made when both were valued at a fraction of their current worth, have significantly appreciated. Anthropic was valued at $550 million in May 2021; it closed a $30 billion raise in February at a $380 billion valuation and is reportedly receiving offers exceeding $800 billion. xAI, Elon Musk’s AI company, reached a $230 billion valuation in January before its acquisition by SpaceX as part of a combined entity valued at $1.25 trillion.
From Camera Shop to AI Investing
Japanet’s journey into AI investing began with a camera shop. Akira Takata, born in Nagasaki in 1948, took over his family’s camera store and turned it into a mail-order business in 1986. He pioneered radio shopping on NBC Nagasaki Broadcasting and later moved to television, building Japanet Takata into Japan’s leading home shopping network. The company sells a range of products from air conditioners to tablet computers primarily to an older Japanese demographic through infomercials emphasizing simplicity and value. Revenue reached 262 billion yen, approximately $1.7 billion, in fiscal 2023. Akira retired as chief executive in 2015, and his son, Akito Takata, now runs Japanet Holdings and its 13 group companies with around 2,000 employees.