Announcement of EM Showcase 2025

• Managed Japanese equity value funds for over 20 years at Nomura Asset Management
• Built a flagship fund with over ¥900 billion in AUM and a client base spanning 28 countries worldwide.
• Drawing on his experience interacting with overseas institutional investors in his previous role, Mr. Takayanagi recognized that Japan has relatively few independent asset managers compared to other countries. This led him to start his own independent firm.
• Value investing in domestic companies

• Unique in its founding rationale (shedding past experience and career to launch from scratch as an EM)
• Through active management, he identifies growth opportunities among Japanese listed companies.

• Led carve-out deals from large corporations as Deputy Head of Carlyle Japan PE Fund
• Founded the company believing that revitalizing Japan's industrial sector requires entities to support the transformation of mature large corporations
• Engagement investing in domestic listed companies

• Focuses on leveraging expertise cultivated through private equity investments to accelerate management and enhance value at portfolio companies while maintaining their listed status
• This strategy and expertise were recognized, raising approximately ¥150 billion in capital within six months of the company's founding.

• Established Saison Investment Trust Co., Ltd. in 2006. Served as President and Representative Director since 2007, providing investment trusts directly to individual investors without intermediaries.
• Established the company independently in 2023.
• Manages two publicly offered investment trusts investing in "domestic growth companies" and "global growth companies," respectively.

• An independent asset management firm specializing in active management of Japanese equities as an investment trust management company. Focuses on sectors with limited representation in Japan.
• Unique in targeting individuals as investors, capitalizing on increased interest in asset management driven by NISA/iDeco

• Established as part of the Monex Group
• Previously contributed to bridging the gap between Japan's "individual investors" and "the market" as a pioneer in online securities
• Founded with the next theme of bringing "individual investors" and "companies" closer together
• Provides advisory services for managing engagement funds targeting domestic listed companies

• Focusing on the fact that this venture represents the culmination of Mr. Matsumoto's professional career
• Provides advisory services for "Japanese equity engagement funds targeting domestic retail investors." This initiative has opened a new avenue in a field previously dominated by overseas investors.

• The novelty lies in engaging with investee companies by involving individual investors, who are the ultimate shareholders

• Both spent approximately 20 years in investment operations at Shinsei Bank (now SBI Shinsei Bank).
• Established Japan's first impact investment fund by a domestic bank, the "Childcare Support Fund," in 2017, followed by the institutional investor-participating second fund, "Hataraku FUND," in 2019
• They also serve on committees for impact investment promotion organizations and government-sponsored committees, contributing to the development of the impact investment ecosystem.
• After leaving Shinsei Bank in January 2024, they established Impact Capital Fund No. 1 in May
• Recipient of Nikkei WOMAN's "Woman of the Year 2019" award

• Gained attention as an independent VC fund led by two female partners who are pioneers in impact investing
• Resonating with the two individuals who continue to lead impact investing in Japan, Japan Post Insurance and Ritsumeikan University became anchor investors.

• With a mission to promote innovation and create new capital flows toward realizing a sustainable society for the next generation, they pursue activities aiming to balance sustainability and economic growth
• Alongside leading partners, it develops and operates sustainability-focused investment strategies, including impact engagement funds targeting domestic listed companies, and incubates innovative businesses contributing to sustainability improvement.

• Its pioneering approach involves identifying issues that enhance corporate value from a sustainability perspective and driving improvements through engagement.
• Its impact investing in listed equities focused on environmental and gender issues is novel.

• Founded by former major hedge fund (K2) professionals alongside financial institutions and corporate pension fund managers
• Develops and manages carbon credit investment strategies

• Focuses on providing domestic investors with access to "investments in overseas carbon credits," which are rarely handled domestically

• Established through joint investment by Sumitomo Mitsui Trust Bank, Limited and Mercuria Holdings
• The investment team consists of bank investment/lending veterans and external specialists, raising capital from external LP investors.
• Provides advisory services to funds investing in projects and companies contributing to infrastructure for "decarbonization" and "digitalization," as well as social infrastructure supporting regional economic revitalization and sustainable development

• Provides investment advisory services for domestic infrastructure funds backed by institutional investors
• Aims to engage not only institutional investors but also a broad range of domestic and international investors in domestic infrastructure investment in the future.
• One of the major financial group's new investment management area development projects

• Established jointly with Hong Kong-based Pleiad Investment Advisors, which invests in Japanese listed stocks, by Mr. Nagasawa, former CFO of Mercari, and Mr. Murashima, former Head of Global Internet Banking/Global Software Banking Group Japan at Morgan Stanley
• MGP primarily invests pre-IPO and continues holding shares post-IPO. Shares are then transferred to Pleiad's fund managing listed equities for long-term post-IPO holding.

• Noteworthy for offering crossover investment as one solution to the "small-scale listing" problem faced by domestic startups

• Provides direct secondary investments for late-stage startups

• Offers direct secondary investments as one solution to the "small-scale IPO" problem facing domestic startups.
• JIC evaluated this initiative as contributing to the creation of Japanese unicorns and invested as an LP.

• Impact investing in mid-to-late stage startups addressing social issues in Japan and select overseas markets, providing deep hands-on support to help portfolio companies become mega-impact enterprises solving global social challenges

• The secretariat notes the following points of their initiative to contribute to the development and expansion of impact investing in Japan by establishing their own company:
• By investing in startups solving Japan's social challenges, we are building an ecosystem to accumulate and share practical knowledge of impact investing suited to Japan, both domestically and internationally, fostering the emergence of numerous impact enterprises solving global social challenges from Japan.

Managing Partner
Ken
Yasunaga Managing Partner Shri Dodani

• Founded by two Japanese and three American partners, the firm invests in Japanese tech startups, provides hands-on support for their growth (including overseas expansion), and aims to maximize investment returns.
• Partners with entrepreneurial and startup management experience provide support in team building (including internationally), PMF, customer network development, fundraising, and exit strategies.

• Supporting the value growth of Japanese startups through global expansion × hands-on approach
• Accordingly, LPs include operating companies supporting startup overseas expansion (Sojitz), Sompo Light Vortex, and AI Capital

Founding Partner: Hideo

Natsume
Founding Partner:
Li Lucheng

• An independent venture capital firm established in 2024 by former members of East Ventures and Z Venture Capital
• Invests in pre-seed and seed-stage startups aiming for "Japan to Global"

• Notable for leveraging its diverse background ("founded by a Chinese Waseda graduate and a Japanese Tsinghua graduate") to provide hands-on support for startups aiming to go global from Japan

• Nakajima: After research roles at Toshiba, he worked on deep tech investments at the Innovation Network Corporation of Japan (INCJ), achieving multiple exits. Later, as CIO at Mistletoe, he oversaw investment activities. He possesses a strong network of investors and entrepreneurs across Japan, the US, and Europe.
• Mr. Minamoto: After working at Toyota Motor Corporation, he served as a securities analyst and fund manager at Sawakami Asset Management. Subsequently, at Nissay Capital, he successfully guided 7 out of 19 companies to IPO/M&A.
• Primarily invests in domestic and international startups at the seed and pre-IPO stages.

• VC specializing in the Human Augmentation sector
• Collaborates with regional banks in each area to facilitate matching between regions and portfolio companies
• Fund No. 3 was established jointly with Hokkaido University. In addition to university research seeds, it plans to invest in startups related to primary industries, Green Transformation (GX), and sustainability, with a focus on regional collaboration.

• Served as Executive Officer and CFO of the Digital Division at CCC Group since 2015. Founded IMJ Investment Partners Japan (now Spiral Capital) under CCC Group that same year. Subsequently became independent from CCC Group through an MBO
• The flagship fund (for institutional investors) focuses on early-stage companies in the BIG4 domains (AI/Fintech/Healthcare/Smart Infrastructure).
• Operates CVC funds through a separate GP entity independent from the flagship fund

• Supports open innovation leveraging the large corporate network cultivated through the CVC fund business.
• Composed primarily of former investment bankers, providing a "CFO-like role" as financial professionals
• For the flagship fund, JIC evaluates and invests as an LP from the perspective of promoting the creation of new businesses and industries

• Learned investment standards at JAFCO.
• Subsequently, invested primarily in food-related startups at the CVC divisions of Mitsubishi Corporation, Gurunavi, and Marui Group.
• Managed a Japanese restaurant for 20 years as its founding manager.
• Circumnavigated the globe in March 2020, reaffirming the "importance of food and health" and "the potential of Japanese cuisine" worldwide. Established a VC firm in May after returning to Japan.
• The "Future of Food Fund I" invested in 21 domestic food startups possessing unique technologies.

• The secretariat noted his motivation for founding the venture: the belief that Japan should demonstrate "leadership" in the food sector.

• Invests in seed/early-stage and pre-IPO startups
• VC newly established by Midas Capital, a PE firm making majority investments based on its own capital

• A combination of skill sets: Mr. Ito, who gained experience in the VC world, and Mr. Terada, who served as CFO of a listed company and currently serves as a director at PE (Midas Capital).

• Established through the merger of representatives from independent VCs Apricot Ventures and TLM
• Investment strategy focused on lead investments in pre-seed and seed-stage startups

• Diverse team composition with three GPs from major IT firms, independent VCs, and major audit firms/major CVCs
• Initiatives contributing to creating Japanese unicorns from the founding stage, attracting LP investments from government funds like JIC and mega/regional bank funds

• Investing in early-stage startups
• Focuses on SaaS, health tech, etc.

• Focusing on the following initiatives based on the perspective that "improving the back offices of large Japanese corporations will boost Japan's productivity"
• Providing DX advisory services to LP investors (large corporations).
• Providing hands-on support to portfolio SaaS companies and facilitating the adoption of their products by LP investors (large corporations).

• Founded in 2019 by Tomoko Namba, Founder and Representative Director/Chairman of DeNA, alongside members with entrepreneurial and business experience.
• The first fund received sole investment from DeNA and invested in seed and early-stage startups.
• The second fund, launched in 2023, received investments from DeNA, institutional investors, financial institutions, and operating companies.

• A "VC with an entrepreneur's perspective" led by experienced executives from listed companies
• A novel aspect is the clear stipulation in the investment agreement policy that startups receiving investment are "not obligated to pursue a public listing."

• Invests in seed and early-stage startups
• Invests in startups tackling social challenges such as the super-aging society and climate change
• Mizuho Bank, Organization for Small & Medium Enterprises and Regional Innovation, etc. as LP investors

• A "VC with an entrepreneur's perspective" led by experienced executives from listed companies

• Invests mainly in seed-stage startups led by serial entrepreneurs
• LP investments from SBI Shinsei Bank, Daiwa Securities Group, SMBC Nikko Securities, Greer, etc.

• Combination of skills and assets: Mr. Ieiri's "entrepreneur's perspective" and network, as a renowned entrepreneur with numerous angel investments, and Mr. Kajitani's "investor's perspective," with extensive experience in investments and IPO support at VC firms and securities companies.

• Invests in seed and early-stage startups
• Launching support projects from a design perspective and providing hands-on, accompanying support

• Supporting portfolio startups with diverse design challenges, from branding and product development to organizational building
• Implementing support through a partnership with global design consulting firm IDEO to enable portfolio companies to thrive domestically and internationally