—Suzy Kenly
Tokyo-based Myojo Asset Management is looking for a seeding firm to invest $50 million in its recently launched Myojo Super Cycle Long/Short Fund. Noriya Nishi manages the fund, which focuses on large-cap Japanese technology companies. Myojo is approaching seeding firms in Hong Kong and Europe.
Nishi had identified several Taiwanese and Japanese high-net-worth individuals to put $15 million in the fund last October, but the tumultuous environment put the launch on hold. The fund rolled out this March with $1.5 million. Once the firm identifies a seeding partner, it will then approach funds of funds. From its March inception through May 31, the fund is up 2.5%.
The Super Cycle fund is eying companies across the technology sector, including semiconductor companies, electric component companies and IT hardware and software service companies. A very small portion of the portfolio is invested in healthcare, Nishi said. He declined to name any of the companies.
Previously, Nishi worked at Credit Suisse in Tokyo as a technology analyst for seven years. Myojo Asset Management was founded in 2003 and manages several absolute return strategies.
This article was originally published in Alternative Investment News.