Japan is making bold moves to shape its next generation of venture capital leaders—and it’s not doing it alone.

Teaming up once again, the Japan External Trade Organization (JETRO) and San Francisco-based Coolwater Capital have launched the second round of their Emerging Fund Manager Accelerator, a powerful program designed to equip rising fund managers with the skills, global outlook, and institutional mindset required to thrive on the international stage.

A Deeper Dive into the Program’s Mission

This initiative isn’t just about teaching theory—it’s about action.

It’s tailored specifically for Japan’s emerging VC talent, giving them the tools to create globally competitive funds.

The program spans three months and features eight detailed modules.

Beyond coursework, there are networking opportunities, hands-on office hours, and regular in-person and online meetups to foster connection and collaboration.

And everything is conducted in English, making it accessible to participants with global ambitions.

Strong Start: Highlights from the First Cohort

The first cohort was nothing short of impressive.

Out of hundreds of applicants from across Japan, 17 general partners (GPs) were selected.

Together, these emerging fund managers were aiming to raise over $500 million—a testament to the ambition and potential brewing in Japan’s VC scene.

Who Should Apply?

This accelerator is crafted for those on the cusp of making a major impact in venture capital.

That includes early-stage VC managers, former startup founders, executives from corporate venture spinouts, tech leaders, and institutional investors with a Japan-focused investment lens.

What’s New for Cohort 2?

Cohort 2 is coming back bigger and better with a few exciting upgrades:

Tailored Fundraising & Branding Support: More personalized coaching to help participants sharpen their fundraising strategies and build standout fund brands.
Enhanced Shared Services: Participants will have expanded access to tools and insights on LP strategy, investor relations, and fund positioning.
Localized Hybrid Model: With improved support for both in-person and virtual attendees, the program is now more flexible than ever.
Alumni Ecosystem: A new podcast and content platform is being launched to keep alumni engaged, connected, and continuously learning.

Important Dates to Remember

If you’re thinking of applying—or know someone who should—here are the key dates to keep on your radar:

Applications Open: June 11, 2025
Deadline to Apply: July 16, 2025
Program Launch: September 9–11, 2025, in Tokyo (followed by weekly virtual sessions)
Capstone Event: Coolwater Investor Summit in New York, November 17–19, 2025

What’s Next for Japan’s VC Ecosystem?

With the second cohort on the horizon, Japan’s venture capital ecosystem is poised for even greater transformation.

Programs like this don’t just train fund managers—they help shape the direction of innovation, investment, and global influence.

If Cohort 1 was the spark, Cohort 2 is the flame ready to burn brighter.

Are you ready to be part of it?