Overview
Brave group Inc. is a Japanese company operating in advertising, virtual IP — most prominently Virtual YouTuber (VTuber) talent — and metaverse-related businesses. Its stated vision, as described on third-party corporate information sites, is to become a “collective of businesspeople who create an era.”
The company was founded in Tokyo’s Setagaya Ward on October 11, 2017, under the name Virtual YouTuber Inc. It renamed itself Unlimited Inc. on December 25, 2018, then took its current name, Brave group Inc., on June 16, 2020, the same day it announced roughly 800 million yen in funding from investors including Aniversel Holdings, efu Investment Ltd, AG Capital, gumi ventures Fund No. 3, Septeni Holdings, MyNavi, Mizuho Growth Support Fund No. 3, and individual investor Akira Katayama. That same day, Representative Director and CEO Tsunesuke Uenishi stepped down and Representative Director and CFO Keito Noguchi took over as CEO.
Its structure is a holding-company arrangement, adopted in October 2022 when the metaverse platform and metaverse marketing operations were transferred to a subsidiary, MetaLab Inc. What sits beneath Brave group today is a catalogue assembled largely one deal at a time: Virtual Entertainment Inc. runs Vspo! Virtual eSports Project; LaRa Inc. manages the virtual artist unit HimeHina; Neo-Porte Inc. handles the Neo-Porte VTuber group; RIOT MUSIC Inc. operates a music talent agency; ENILIS Inc. oversees the ゆにれいど! project, the ENILIS VLiver Project, and Palette Project; Smarprise Inc. runs merchandise e-commerce, IP collaboration, OEM development, and licensing; Game & Co. covers esports education, event planning, and consulting; D1-Lab Inc. handles CG production, motion-capture studio operations, systems development, and the ME Campus metaverse school; Brave pictures Inc. produces animation; Geek Hive Inc. provides systems, app development, and DX support; StelLive inc. operates the South Korean VTuber production StelLive; Brave group US Inc. runs V4Mirai and idol; Brave group Europe Ltd. runs globie; Brave group APAC (Thailand) Co., Ltd. runs AStars Production; and further entities include 布雷福（深圳）贸易有限公司, known as Brave group China, and Brave group Korea Inc.
Not all of it has stayed. The company has sold operations, spun companies out, shut down projects, and absorbed subsidiaries into one another with a frequency that makes any single organizational chart a snapshot rather than a description.
History
A company founded as Virtual YouTuber Inc. does not, as a rule, go on to operate subsidiaries in Bangkok, Shenzhen, Seoul, and Los Angeles. This one did, and the paperwork began almost immediately.
Virtual YouTuber Inc. was incorporated in Setagaya Ward, Tokyo, on October 11, 2017. On March 6, 2018, it launched the Game-bu Project. Two days later it moved its head office to 3-6-28 Aobadai, Meguro Ward. On October 3, 2018, it signed a capital and business alliance with Wright Flyer Live Entertainment Inc., later REALITY Inc. On December 25 of that year it changed its name to Unlimited Inc. A move to Nishi-Gotanda, Shinagawa Ward, followed on January 7, 2019, and on August 5, 2019, it launched the VTuber and monthly manga magazine collaboration Monthly UNLIMITED. In March 2020 came the virtual music production RIOT MUSIC.
Then came the renaming, on June 16, 2020, to Brave group Inc., alongside roughly 800 million yen raised from Aniversel Holdings, efu Investment Ltd, AG Capital, gumi ventures Fund No. 3, Septeni Holdings, MyNavi, Mizuho Growth Support Fund No. 3, and individual investor Akira Katayama. CEO Tsunesuke Uenishi stepped down; CFO Keito Noguchi became CEO. Ten days later, the operations and members of the Aogiri High School Game-bu were spun off into a new company, Create Ring Inc., and the group was renamed Aogiri High School. On November 16, 2020, the company announced its Entertainment (IP) 3.0 concept and launched Taiban! as the first project under it.
The retreats arrived on schedule. On December 31, 2020, the company announced that the Game-bu Project and the Magical Girl Project would end by February 2021, with only Sakuraki Miria of the Game-bu Project continuing. On May 10, 2021, headquarters moved to the Otomo Building in Shibaura, Minato Ward. Taiban! was suspended in mid-May 2021. The virturaltalk service ended on June 30, 2021. On September 17, 2021, it announced that Sakuraki Miria and Claire-sensei would transfer on October 13 to Acro, a new label jointly founded by Highway Star and LOGIC&MAGIC.
What followed was consolidation by purchase. MetaLab Inc. was established in April 2022. On June 7, 2022, Brave group announced M&A integration with Virtual Entertainment Inc., operator of Vspo! Virtual eSports Project, and MateReal Inc., operator of Palette Project. In July 2022 it founded SuperYellow Inc. and moved operation of RIOT MUSIC to it. In October 2022, an absorption-type split transferred the metaverse platform and part of the metaverse marketing business to MetaLab, and Brave group shifted to a holding-company structure. On December 16, 2022, it announced the founding of Game & Co. to take over esports-related rights and obligations from Virtual Entertainment.
2023 was a year of simultaneous expansion on four continents and quiet subtraction at home. On January 16, Brave group announced a business alliance with viviON Inc., under Geog Holdings, and the sale of Create Ring — the Aogiri High School operator — to viviON effective April 1, 2023. On January 28, MetaLab released the full version of the Brave Engine metaverse environment. On February 23, Game & Co. began offering CR Gaming School, an online school focused on game improvement, as a joint venture with the pro gaming team Crazy Raccoon. In March came Brave group US Inc. for the English-language VTuber project V4Mirai, and Brave group Europe Ltd. for globie, aimed at European languages. Headquarters moved to PMO Tamachi III on March 13. ENILIS Inc. was established April 6; MetaLab opened the metaverse school ME Campus on April 16. SuperYellow was renamed RIOT MUSIC Inc. on June 1. ENILIS launched the VLiver project HareVare on July 1, and on July 3 Brave group integrated with Geek Hive Inc., making it a subsidiary. On October 27, ENILIS launched Vlash. On November 1, Brave group integrated with LaRa Inc., operator of the virtual artist unit HimeHina, and with D-One Inc., which handles XR and IoT app development, database design, CG content production, and a motion-capture studio — both became subsidiaries. That November it established Brave group APAC (Thailand) Co., Ltd. in Bangkok, and in December 布雷福（深圳）贸易有限公司, or Brave group China, in Shenzhen. On December 20, 2023, it raised 3.11 billion yen from Third Wave Inc., Sumisho Venture Partners, Yostar Inc., REALITY Inc., Septeni Holdings, and Shochiku Ventures, with a loan from Shizuoka Bank, and signed a capital and business alliance with Third Wave aimed at spreading esports further. On December 28, 2023, it signed a business alliance with IDOL VIRTUAL TALENTS LTD, operator of the VTuber group idol.
2024 opened with more of the same. On February 1, Brave group integrated with Smarprise Inc. by M&A. In February it established Brave pictures Inc. for animation production. On April 19, ENILIS launched the VTuber project Yunired!. On April 23 came a Series D third close with Mitsui Fudosan’s 31VENTURES Global Innovation Fund 2 and TV Asahi Holdings as subscribers. On May 14, a business alliance with the South Korean VTuber production StelLive inc.; on May 20, a business partnership with DoKomi, described as Germany’s largest anime and manga convention. On June 25, the company disclosed the leak of personal information belonging to 10,653 applicants across three auditions: the Vspo! JP Audition, the Brave group General Audition, and the HareVare VLiver Audition. On July 9, it started Brave stores for overseas merchandise sales, and on August 22 opened a physical Brave stores location at Haneda Airport Garden. On October 1, D-One absorbed MetaLab and renamed itself D1-Lab Inc. On December 1, Brave group absorbed And Epoch Inc., a subsidiary running the multilingual VTuber project MUGEN LIVE.
The tempo did not slow in 2025. On January 17, Choginga Records Inc. was established as a subsidiary of RIOT MUSIC Inc., taking over the Meteopolis virtual music label under its new name. On January 31, ENILIS integrated with brossom Inc. by M&A. On February 19, Brave group announced its February 1 M&A integration with Neo-Porte Inc. On March 12, it established Brave group WEST in the Hankyu Grand Building in Kita Ward, Osaka — its first domestic branch, aimed at strengthening ties with companies in western Japan. On April 1, ENILIS absorbed both MateReal and brossom. In April, D1-Lab announced the founding of Edutainment-Lab Inc. together with Sprix Inc. On May 1, ENILIS consolidated six existing VLiver labels — HareVare, Libon, Viollet, flill, cilq, and lx — under the name ENILIS VLiver Project and established three new labels: brossom, SYNTHE, and LELOMO. Also on May 1, RIOT MUSIC renamed its VSinger label Blitz Wing to Muhara Uta Records. On May 29, Choginga Records became independent of Brave group. On July 16, Brave group integrated with StelLive inc. by M&A and established Brave group Korea Inc. On November 11, it formed a capital and business alliance with Kakao Investment, the investment arm of Kakao Corp. On November 13, it signed a business alliance with jig.jp focused on VTuber and VLiver operations. On November 27, part of the operations run by Brave group US Inc. were transferred to FTW Entertainment, which became independent of Brave group.
2026 brought the subtracting. On January 13, the virtual idol group Palette Project was transferred to jig.jp and moved to joint operation with ENILIS, and the ENILIS project Vlash announced its termination and disbandment. On April 21, RIOT MUSIC Inc. announced it would close the Kigensho Records business as of the 30th. On April 22, Gree Holdings Inc. announced an additional investment in Brave group through its wholly owned subsidiary REALITY Inc., making the Gree group Brave group’s largest shareholder.
Business Model
Brave group does not sell a single product. It holds companies that do, and the holding is the business.
At the center sits virtual IP: VTuber and VLiver talent organized into named productions, each operating as a label under a subsidiary. Vspo! Virtual eSports Project, HimeHina, Neo-Porte, RIOT MUSIC, Yunired!, the ENILIS VLiver Project, Palette Project, V4Mirai, globie, StelLive, and MUGEN LIVE are all run this way, with the parent company collecting across them rather than running any one of them directly. The talent rosters are long and deliberately segmented — V4Mirai alone is divided into Petalight, Lunalia, Voltail, and AuraRain; RIOT MUSIC’s renamed Muhara Uta Records carries a roster that grows by the year; ENILIS consolidated six existing VLiver labels into one project in order to launch three more.
Around that core sits a second layer of businesses that sell things to the audience and to other companies. Smarprise Inc. handles merchandise e-commerce, IP collaboration, OEM development, and licensing. Brave stores sells goods overseas and runs a physical location at Haneda Airport Garden. Brave Engine, developed by MetaLab and released in full on January 28, 2023, licenses a metaverse environment. Game & Co. sells esports education, event planning, and consulting, including CR Gaming School, run jointly with Crazy Raccoon. Geek Hive Inc. sells systems and app development and DX support. D1-Lab Inc. sells CG production and motion-capture studio time, and operates the ME Campus metaverse school, itself founded with Sprix Inc. as Edutainment-Lab Inc. Brave pictures Inc. sells animation production. The advertising business the company was originally organized around remains part of the mix.
Geographically the model repeats. Brave group US Inc., Brave group Europe Ltd., Brave group APAC (Thailand) Co., Ltd., 布雷福（深圳）贸易有限公司, and Brave group Korea Inc. each hold a production aimed at a language market: English, European languages, Thai through AStars Production, Chinese through MUGEN LIVE, Korean through StelLive. Two of those operations, Brave group US Inc.’s transferred business and Choginga Records, have been allowed to leave the group, which suggests the holding structure is not treated as permanent.
Funding has followed the same pattern as the subsidiaries. Roughly 800 million yen in June 2020. A further 3.11 billion yen on December 20, 2023, from Third Wave Inc., Sumisho Venture Partners, Yostar Inc., REALITY Inc., Septeni Holdings, and Shochiku Ventures, with a loan from Shizuoka Bank. A Series D third close on April 23, 2024, with Mitsui Fudosan’s 31VENTURES Global Innovation Fund 2 and TV Asahi Holdings as subscribers. A capital and business alliance with Kakao Investment on November 11, 2025, and an additional investment from Gree Holdings through REALITY Inc. announced April 22, 2026, that made the Gree group the largest shareholder.
What the company charges for, in the end, is proximity to talent. The talent is the asset; the labels, the merchandise, the engine, the school, and the studios are the ways of reaching it.
Cultural Impact
Brave group’s roster changed how VTuber agencies are assembled in Japan. Rather than building talent from scratch and holding it, the company bought established groups — Virtual Entertainment and MateReal in June 2022, LaRa and D-One in November 2023, Smarprise in February 2024, Neo-Porte in February 2025, StelLive in July 2025 — and placed them side by side under one parent. The result is that a viewer moving between Vspo!, HimeHina, Neo-Porte, and Muhara Uta Records may be watching four labels of the same company without any on-screen indication of it.
That consolidation has an inverse: acts also leave. Sakuraki Miria and Claire-sensei transferred to the Acro label in October 2021. Create Ring, operator of Aogiri High School, was sold to viviON effective April 1, 2023. Palette Project was transferred to jig.jp on January 13, 2026, and moved to joint operation with ENILIS. Choginga Records became independent on May 29, 2025. Vlash was terminated. Kigensho Records was closed. Talent, in this model, moves through the structure the way inventory moves through a warehouse.
One episode reached beyond industry observers. On June 25, 2024, the company disclosed that personal information belonging to 10,653 applicants across three auditions — the Vspo! JP Audition, the Brave group General Audition, and the HareVare VLiver Audition — had leaked. For a business whose entire product is the public-facing identity of its performers, the applicants behind that number were the next generation of the thing being sold.
The earlier Game-bu Project remains the most-cited chapter. The voice cast was replaced following excessive workload and inappropriate communication directed at voice staff, a change formally announced only on July 17, 2019, and the project ended February 7, 2021. Of its members, only Sakuraki Miria continued. Folia, launched July 27, 2019, ran for three months and ended October 31, 2019. The Magical Girl Project closed in 2021. Those closures, and the acquisitions that followed, are two halves of the same ledger: what Brave group could not grow, it bought, and what it could not keep, it let go.