Japanet Holdings, the Japanese TV shopping company, has quadrupled its venture capital fund to $200 million after early investments through Pegasus Tech Ventures in Anthropic, xAI, SpaceX, and OpenAI generated extraordinary paper returns. Anthropic alone has appreciated from a $550 million valuation in 2021 to $380 billion in 2026. The expansion is part of a wave of Japanese capital flowing into AI, with SoftBank investing $41 billion to OpenAI and Japan’s government launching a $6.34 billion AI scheme. The fund was initially designed to connect global startups with Japanet’�s operations in Nagasaki, particularly its $650 million Stadium City development.