TOKYO (Reuters) -Japanese fund The Innovation Network Corporation of Japan (INCJ) generated a total investment return of over 1 trillion yen ($6.93 billion) when it ended 16 years of operations in March, it said in a presentation on Monday.
The fund was launched in 2009 as a temporary scheme to promote new industries and take on risky, long-term investments with funding from the Japanese government and private companies.
Over its lifetime, the fund made 144 investments, of which around 80% were venture investments including in early-stage startups, INCJ said.
The fund generated much of its gains from acquiring some 70% of then-struggling chipmaker Renesas in 2013.
It steadily sold down its position and in November offloaded almost all of its remaining shareholding of 6.65% for $1.8 billion.
($1 = 144.200)
(Reporting by Anton Bridge and Miho Uranaka; Editing by Muralikumar Anantharaman)
