Digital Garage Establishes Open Network Lab & ESG I “Earthshot Fund” for Startups in the ESG Field

Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) establishes the Open Network Lab & ESG I Investment Limited Partnership (in short, “Earthshot Fund”), an investment fund. In collaboration with Open Network Lab (Onlab), Japan’s first seed accelerator program established in 2010, this fund will invest in promising startups in Japan and abroad, focusing on Onlab participants (including those that have applied and those that have been selected) and companies related to the ESG field. After the initial investment, the fund will provide follow-up investments to investees with high potential for growth. We will also provide full support to enhance the corporate value of the portfolio companies by utilizing its diverse resources and network. The “Earthshot Fund” is operated by DG Incubation, Inc., a DG subsidiary in the investment business.

Onlab was established in 2010 as Japan’s first seed accelerator program. Since then, it has expanded its open innovation programs for specific regions and fields, also has carried out more than 30 programs. Onlab has produced over 150 startups so far, including unicorns and companies that have achieved IPOs. We have commenced “Onlab ESG” in 2021 to strengthen initiatives in the ESG field and is building a structure for investing in and cultivating startups in the ESG field from a global standpoint in collaboration with North America and Europe. This fund will use Onlab’s investment, support resources and expertise for seed and early-stage startups, as well as its startup network in the ESG field, to carry out investment activities.

The “Earthshot Fund” will continue to recruit companies in the real estate, financial and IT sectors that are interested in the ESG field and that agree with Onlab’s management policy.

Based on its corporate purpose, “Designing ‘New Context’ for a sustainable society with technology,” DG Group will build an innovation ecosystem in the ESG field through this fund together with seed and early-stage startups that will lead the next generation and will work to achieve “New Context” for a sustainable society.

“Open Network Lab has established 10 years ago. Japan’s startup ecosystem has made great progress in a decade. The “Earthshot Fund” is in tune with the trend of global-scale ESG initiatives for investment activities with consideration given to major societal, technological, and environmental changes across the world. DG will continue contributing to society while positioning this fund as a startup ecosystem for the new era.” (DG Representative Director, President Executive Officer and Group CEO Kaoru Hayashi)

■Outline of this fund