Tokyo-based software company Asteria is launching a venture fund with Silicon Valley's Pegasus Tech Ventures to invest up to $10 million in startups developing artificial intelligence, physical AI and robotics technologies. The move deepens Asteria's push into embodied AI after it established Physical AI and Robotics Cells in April 2026.
Structure of the fund
The fund will start at $5 million and scale to a maximum of $10 million (about 1.6 billion yen). Pegasus Tech Ventures Management XXXI, LLC, based in California, serves as general partner, while Asteria AI & Robotics Inc. of Texas is the limited partner. The vehicle runs for 10 years, from June 2026 to May 2036, and targets strategic partnerships with startups in Japan and overseas.
A deep venture track record
Pegasus describes its model as "venture capital-as-a-service," working with more than 40 corporate limited partners and managing roughly 300 billion yen in assets. The firm reports 88 exits including 27 IPOs across more than 300 investments, with a portfolio that has included SpaceX, OpenAI, Anthropic, xAI and robotics specialist Mujin.
Part of a broader robotics funding boom
The launch reflects intensifying corporate appetite for physical AI. It follows the Pegasus–Cyberdyne $60M physical AI fund and major embodied-AI rounds such as Generalist AI's $400M raise and Neura Robotics' $1.4 billion Series C.
Reporting based on coverage from AI Insider and Asteria.