Sep 8 2021
Using Investor Carlyle’s Network to Accelerate Global Commercialization
YAMAGATA, Japan, September 08, 2021– (BUSINESS WIRE) – Spiber (director and executive representative: Kazuhide Sekiyama), a biofabrication start-up, announced that it has approved a capital increase of 24.4 billion yen through a funding round involving leading global investors such as Carlyle (Representative of Japan: Kazuhiro Yamada), as well as existing shareholders such as Cool Japan Fund Inc. (President and CEO: Kenichi Kawasaki).
Spiber simultaneously approved an additional JPY 10 billion capital increase through an extension of the value securitization structure executed on December 28, 2021 and organized by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., bearing the new total capital at JPY 34.4 billion.
As a new investor, Carlyle made a significant investment in Spiber, representing Carlyle’s very first non-buyout growth investment in Japan. Spiber will be able to take full advantage of Carlyle’s global industrial experience, sustainability expertise and network with luxury brands as well as the textile and materials industries to accelerate its future growth. Carlyle’s previous investments include sustainability-focused companies such as Jeanologia and Beautycounter, as well as world-renowned clothing brands such as Moncler and Golden Goose.
Spiber will additionally receive a significant follow-on investment from existing Japanese shareholder Cool Japan Fund, which has been a strong supporter of Spiber since 2018. Additionally, global investors such as Fidelity International and Baillie Gifford, as well as domestic shareholders of Spiber Tokyo Century, Yamagata Bank and Satake Chemical Equipment Mfg., Will join this round. Cool Japan Fund and Carlyle will each send a director to serve on Spiber’s board of directors and thus become the company’s main domestic and global investors. Leveraging the extensive networks and in-depth expertise of these shareholders will allow Spiber to accelerate its global expansion plans, as well as further develop communication with domestic and global investors in preparation for an IPO in the markets. coming years.
Mitsubishi UFJ Morgan Stanley and Anderson Mori Tomotsune acted as financial and legal advisers respectively for this equity financing.
Spiber’s proprietary Brewed Protein ™ material is a biobased, biodegradable, animal-free synthetic protein platform. It can be applied to substitutes for cashmere, wool, fur, leather, silk and other animal and / or petroleum-based materials, and offers significant environmental benefits such as resource consumption Significantly reduced natural and GHG emission reduction potential compared to cashmere production (based on Spiber’s preliminary LCA). With its unique vertically integrated R&D approach that delivers superior results in terms of productivity and material characteristics, Spiber is well positioned to benefit from increased ESG focus across all industries and to lead the global sustainable materials market. from bioengineering. Spiber is also set to begin implementing mass production through its factory in Thailand in 2021 and in the United States as early as 2023.
Proteins are central to all life and ecosystems on Earth. By putting in place the necessary infrastructure to harness the production of these materials on an industrial level, Spiber strives to solve global problems and contribute to a more sustainable society.
Founded in September 2007, Spiber Inc. is a Japanese biotechnology startup using advanced synthetic biology, polymers and materials science for the development of its new Brewed Protein ™ materials. Produced by microbial fermentation and using agricultural raw materials as primary raw materials, Brewed Protein ™ polymers are well positioned to make a significant contribution to animal and plastic free initiatives in a range of fields such as the apparel and clothing industries. the automobile. Relying on its expertise in R&D, Spiber pursues its mission of making a positive contribution to sustainable human well-being. Operation of Spiber’s first mass production plant in Rayong province, Thailand is expected to begin by 2021. The company is also building a second mass production plant with its partner ADM in Iowa, USA. United States, which is expected to start operating in 2023 at the earliest. Further information is available at https://www.spiber.inc/en/
Post-currency valuation after the completion of this round: approximately JPY 133 billion.
Offering price per share: 4,500 JPY. Number of shares in circulation (excluding treasury shares) after this capital increase: 29,565,875 shares.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital in three business segments: Global Private Equity, Global Credit and Investment Solutions. With $ 276 billion in assets under management as of June 30, 2021, Carlyle’s goal is to invest wisely and create value on behalf of its investors, the companies in its portfolio and the communities in which we live. and let’s invest. Carlyle employs nearly 1,800 people in 27 offices across five continents. Further information is available at https://www.carlyle.com/
About Cool Japan Fund Inc.
Cool Japan Fund Inc. was founded in November 2013 as a public-private fund with the aim of supporting and promoting the development of overseas demand for excellent Japanese products and services. Cool Japan Fund aims to market ‘Cool Japan’ and increase overseas demand by providing venture capital to companies in various fields, including media and content, food and services, fashion and retail. lifestyle and inbound. Further information is available at https://www.cj-fund.co.jp/en/
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210908005992/en/
Public Relations Section, Ayana NAKAJIMA