Neoteny is an early stage investment firm founded by Joi Ito. It began initially in Tokyo in 1999 as an investor that was structured as a full-service incubator. We now fondly call this original company Neoteny 1. Next, Joi joined James Chan in 2009 to created a fund called Neoteny Labs, which was based primarily in Singapore but invested worldwide. This fund is no longer investing, but still has an active portfolio. In 2015, Joi created another fund, Neoteny 3, that he ran by himself. Neoteny 3 is no longer investing in new deals but has an active portfolio. In 2018, Joi and Adam Mullinax raised Neoteny 4. Neoteny 4 is based in Boston, but invests worldwide.