24
Jun
VC in Japan: The next phase
The Tokyo Stock Exchange’s move to raise the qualification bar for small-cap IPOs threatens to make life difficult for domestic VCs at a time when distributions are already slow. Solid track records and deal pipelines can sustain investor interest, but managers are looking at what else they can do to identify and develop the best start-ups. Options range from leveraging relationships with universities and incubators to partnering with corporate VC units and global counterparts.
- Can sponsor-to-sponsor transactions via expansion fill the exit void?
- To what extent does artificial intelligence dominate investment pipelines?
- How should investors go about forming international partnerships?
- What is the key to selling a Japan VC strategy to global LPs?
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SpeakersYuka Hata Senior Managing Director, Head of Fund Investments Japan Investment Corporation
Kengo Ueha Managing Director, General Partner Beyond Next Ventures
Satoshi Fukushima Partner Globis Capital Partners
Yutaro Saka Partner JAFCO
Kiichiro DeLuca Head of Research Weru Investment
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Yuka Hata is a Senior Managing Director and heads Fund Investment Team at Japan Investment Corporation (“JIC”).
Ms. Hata joined JIC in July 2020 in order to build and support Japan’ private equity / venture capital ecosystem as well as to provide the risk capital with the investment funds which bring Japan’s industry to the next stage. Prior to joining JIC, as a co-head of private equity, Ms. Hata worked for Nissay Asset Management where she was mainly responsible for European small-mid buyout, GP stake investments, secondary and Japan’s VC funds. She also worked for Nomura Asset Management (or Nomura Private Equity Capital) and managed fund of funds focused on Asia market as a member of Investment Committee.
Ms. Hata is a Chartered Member of the Security Analysts Association of Japan., and received a B.A. in Environmental Information from Keio University and an M.B.A. from Ecole des Hautes Etudes Commerciales-HEC in Paris.
Kengo brings over two decades of experience to the venture capital industry. He joined Beyond Next Ventures as a Co-Founding Partner in 2015 and was appointed Managing Director in 2023. In his role, he oversees both fund management and corporate operations while also leading the firm’s investment activities. Kengo has built a strong track record, including notable exits such as SUSMED and QD Laser, both of which he led to successful IPOs.
He began his career at JAFCO in 2003, where he gained extensive experience in investment execution as well as finance and administrative operations.
He holds a Bachelor of Laws from Chuo University.
Satoshi Fukushima joined GLOBIS in April 2014. Prior to that, he worked at Deutsche Securities Inc., where he engaged in various M&A advisory and financing transactions. He received a BA in economics from the University of Tokyo.
Yutaro Saka joined JAFCO in 2012. His main investments include Money Forward, Chartwork, and WACUL. He was ranked No.2 in 2017 and No.9 in 2021 on the Forbes Japan's Midas List of most influential venture capital investors in Japan.
Other than investment operations, he has experience serving as CFO of a portfolio company and, as a member of the business development team, he has built the respective foundation of the current sales/marketing, HR, and back-office support operations. He has been Partner since June 2022.
Kiichiro is a venture capitalist at WERU Investment, the oldest university affiliated venture capital firm in Japan. He leads investment research at the firm, covering a broad range of technology and industry domains. He serves on the board of multiple portfolio companies including LeoLabs and Confidencial, leading startups in the space and cybersecurity domains.
Prior to joining WERU Investment, Kiichiro led technology-focused business development efforts at startups in the US and Japan. He began his career as an aerospace engineer working on spacecraft development at NASA/JPL and industry. Kiichiro holds a B.S. in Aerospace Engineering with Highest Honors from Georgia Tech.