Spiral Capital describes itself as an independent venture capital firm founded in 2016 whose mission is "Spiral into Growth". Its own release for the third general fund states that it invests mainly by leading seed and early-stage rounds while also placing a set proportion into mid and later-stage rounds during business expansion (「シード・アーリーステージへのリード投資をメインとしつつ、事業拡大期のミドル・レイターステージにも一定割合の投資を行います。」), that it targets domestic Japanese startups (国内のスタートアップ企業), that the third fund concentrates on what it calls the BIG4 areas of AI, Smart Infrastructure, FinTech and Healthcare, and that its cheque size is 1件あたり5,000万円～5億円 with follow-on capacity up to 20億円 (JPY 50m to JPY 500m per deal, up to JPY 2bn including follow-ons). The group is made up of two companies: Spiral Capital, which runs the general funds, and Spiral Innovation Partners, which runs the CVC funds for corporate limited partners and carries the group's corporate functions. Its support page offers management, HR and PR support to portfolio companies and open-innovation matchmaking with large corporations, plus startup introductions and advisory services to limited partners.
2012
IMJ Investment Partners, a Singapore entity, is established under IMJ (「IMJの傘下でIMJ Investment Partners（シンガポール法人）を設立」).
2013
Culture Convenience Club (CCC) acquires IMJ (「CCCによるIMJの買収」).
2016
IMJ Investment Partners Japan, the Japanese entity, is established and begins operating IMJIP Japan Fund 1; the firm's own history page marks this year グループ創業 (founding of the group).
2016
Spiral Capital Japan Fund 1号投資事業有限責任組合, 70億円 (70 x JPY 100 million = JPY 7.0bn), vintage 2016 on the firm's fund page.
2017
A management buyout is carried out at the time of Accenture's acquisition of IMJ, and the business restarts as the Spiral Ventures group (「アクセンチュアによるIMJ買収時にMBOを実施、Spiral Venturesグループとして再スタート」).
2019
Spiral Ventures Japan dissolves its joint venture with the Singapore entity, becomes independent and is RENAMED Spiral Capital; Spiral Innovation Partners is established (「Spiral Ventures JapanがシンガポールFC法人との合弁を解消し独立、Spiral Capitalに名称変更。Spiral Innovation Partnersを設立」).
2019
Spiral Capital Japan Fund 2号投資事業有限責任組合, 120億円 (JPY 12.0bn), vintage 2019 on the firm's fund page.
2022
T&D Innovation Fund is formed with T&D Holdings on 21 July 2022; the fund is reported at ファンド規模は50億円 (50 x JPY 100 million = JPY 5.0bn).
2023
全国保証イノベーション投資事業有限責任組合 is established on 31 July 2023 at 50億円 (JPY 5.0bn), with Spiral Innovation Partners LLP as 無限責任組合員 and Zenkoku Hosho Co., Ltd. as 有限責任組合員.
2025
Spiral Capital announces on 26 December 2025 that Spiral Capital Japan Fund 3号投資事業有限責任組合 has completed fundraising at 総額150億円 (JPY 15.0bn).
2026
SEINO Alliance Fund投資事業有限責任組合 is formed with Seino Holdings on 15 July 2026, described in the release as a 100億円規模 fund with 運用総額 80億円 (JPY 8.0bn) at formation; the release states it is the ninth fund run by Spiral Innovation Partners and that group cumulative AUM reached 1,030億円 (JPY 103bn).