YMFG Capital’s Elixir Fund Investment in Yamaguchi Heavy Industries

This year, American Katerra, a subsidiary of Yamaguchi Heavy Industries, announced the new business expansion based in San Antonio, Texas. This strategic growth is a significant advancement for American Katerra, drawing on its parent company Yamaguchi Heavy Industries’ knowledge and resources. Yamaguchi Heavy Industries plans to expand its business with the funds raised, and to this end, the venture capital company YMFG Capital, formerly Yamaguchi Capital, a member of the Yamaguchi Financial Holdings group, has conducted an issue of new shares to third parties through the fund it operates, the Elixir No. 2 Fund Investment Limited Partnership. This investment highlights YMFG Capital’s dedication to nurturing new and growth-oriented entrepreneurs, with a focus on industrial and manufacturing-related sectors.

Established in 1996 and headquartered in Yamaguchi Prefecture, Japan, YMFG Capital is a regional venture capital firm dedicated to promoting small and medium-sized enterprises during their research, development, and startup phases. Yamaguchi Capital has changed its company name to YMFG Capital on July 1st, 2025. As a member of the Yamaguchi Financial Group, which reported total assets of approximately $100 billion as of March 2023, the firm not only provides funding but also offers strategic support in areas such as business intelligence, mergers and acquisitions, business revitalization, and management consulting. YMFG Capital boasts a robust portfolio with at least 68 investments, focusing on fostering regional economic growth and job creation by investing in promising companies.

Elixir No. 2 Fund Investment Limited Partnership is one of the investment structures of YMFG Capital. Intended to supply high-value companies with targeted financial support to scale their activities and implement strategic initiatives, the fund will target debt and equity investments in companies that have established initial market traction. Based on the support for Yamaguchi Heavy Industries, in which the Elixir No. 2 Fund has acquired an interest, it favors the company’s strategic direction and global expansion, including through its subsidiary American Katerra LLC, with high barriers to entry in the U.S. market.

American Katerra’s Texas-based San Antonio Steel Fabrication setup gives the company an upper hand to cater to the increasing demand for quality steel products in the construction and infrastructure sector in the U.S. With support from Yamaguchi Heavy Industries’ deep know-how in heavy industry and manufacturing, American Katerra is ready to provide original ideas and contribute to the local economy in Texas. This investment from Elixir No. 2 Fund, managed by YMFG Capital, demonstrates the synergy that exists between American Katerra, Yamaguchi Heavy Industries, and Yamaguchi Financial Group. In collaboration, they seek to promote innovation, job creation, and industrial development in both Japan and the US.