Nomura-backed impact fund invests in solar developer IGrid ahead of IPO
What's the deal? IGrid Solutions has raised late-stage venture funding from the UntroD Nomura Crossover Impact Fund (XIF), the two firms announced in July 2026. The Tokyo-based company develops and operates distributed solar power through onsite power purchase agreements (PPAs) and supplies renewable energy via its own GX and AI platform.
What's the endgame? IGrid, founded in February 2004, runs "R.E.A.L. New Energy Platform," an AI system that links power users with onsite solar sites and optimises supply and demand. As of the end of March 2026, it had developed 1,410 facilities nationwide with a total capacity of about 357MW.
Where's the money going? IGrid plans to invest in equipment to expand its onsite PPA business, in system development to strengthen the GX and AI platform, and in hiring and training. The company aims to accelerate growth and strengthen its capital base ahead of an IPO.
Who's backing it? XIF is run by UntroD CapitalDealroom has a profile for this one. Try Dealroom → Japan and co-managed with Nomura Asset ManagementDealroom has a profile for this one. Try Dealroom →, one of Japan's largest asset managers. Set up in 2024, the fund targets late-stage startups pursuing impact-oriented IPOs, supplying long-term capital and support for growth after listing.
Why now? UntroD relaunched in June 2024 under a name meaning "unexplored," building on the Realtech funds it has run since 2015. It now manages over ¥40 billion across its funds, focused on deep-tech startups tackling planetary and human challenges.
The signal: The deal shows growing appetite for crossover and impact investing in Japan, pairing venture backing with public-market expertise to carry climate-focused companies through and beyond an IPO.
Read more: PR TIMES
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