OPENREC raised JPY 1.4 billion through a third-party allotment and loans. Participating investors included Iyo Venture Fund 8, Nippon Growth Capital Investment, and JP Investment Regional Impact 1. The company runs mellow-fan, a fan community platform previously known as OPENREC.tv.
Funding terms
Shoko Chukin and Japan Finance Corporation provided the debt portion. The three investment partnerships took equity through a third-party allotment. Cumulative funding now reaches JPY 3.8 billion.
Company context
OPENREC was founded in December 2022 and is led by representative director Yohei Hyodo. The company runs fan communities for artists and entertainers, including KAWAII LAB. It reported sales growth of 1.5 times year over year.
How the platform works
mellow-fan combines live streaming, subscriber communities, real events, and merchandise in one platform. It also plans large events, including the hyper game tournament final at Tokyo Dome on November 28 and 29, 2026. Merchandise is planned and sold in-house through the with mellow apparel brand.
The company will use the funds to expand real event experiences and support regional development. It also plans to create its own IP and enter overseas markets. OPENREC is hiring for 29 roles, including program directors and event sales staff.