X&KSK, a Japanese venture capital firm launched by former AC Milan footballer Keisuke Honda, is targeting high-growth, globally minded start-ups employing artificial intelligence-enabled (AI) business models.

“With AI and LLMs [large language models] advancing so rapidly and achieving such high accuracy, we are beginning to see services and companies emerge that will dramatically transform our real-world society,” Honda, co-founder and general partner of X&KSK, told Mergermarket on the sidelines of the AVCJ Private Equity Forum 2025 on 18 November.

“We believe that industries across the board will be redefined around AI. If there’s a chance to build a decacorn, we’re open to exploring any sector or industry.”

X&KSK recently made a seed investment in Genki Robotics, a Japan-based developer of humanoid robots. By utilizing LLMs, the speed of robot development has increased more than tenfold, Honda noted, adding that the same is likely to happen in other industries.

X&KSK has made 14 investments so far, mostly in Series A rounds, Honda said in an on-stage interview at the forum. Its portfolio companies are involved in autonomous driving, nuclear fusion, bio-AI, ridesharing, and weather modification technology.

Honda started making angel investments in 2016 and subsequently established Dreamers Fund with movie star Will Smith to back start-ups in the US. Now, he wants to help build globally competitive Japanese technology businesses.

Establishing a strong start-up ecosystem is essential to these efforts, with Honda looking to involve government and celebrities as well as investors and entrepreneurs. He hosts an annual conference in Tokyo intended to foster support the ecosystem.

Honda defines his role as changing the mentality of Japanese founders and connecting them with overseas investors and business partners, in part by utilizing his public profile. He would like to see local start-ups raising capital from US venture capital firms from the early stages as they seek to become global players.

Language and culture have historically been impediments for Japanese companies looking to expand overseas. However, if they think globally from day one – and establish footholds in markets like the US – the process will become easier, Honda noted.

“Having big vision is most important; how they want to change society in the future. We only invest in big stories and big technologies, like moonshots. We don’t need established business plans or something – that’s not in our scope,” he said.