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Investment Track Record

JAFCO is a venture capital firm with the most extensive track record in Japan.

As of March 31, 2018


45yrs
Years of VC
Experience
34yrs in US;
33yrs in Asia
¥349B
Fund under
Management
Japan+overseas
Commitment basis
3951co’s
Cum. No. of
Portfolio Co’s
3122 in Japan;
829 overseas
400
No. of Fund
Investors
Domestic funds
under management
1000co’s
No.of IPOs
796 in Japan
+204 overseas
2.0x
Cum. ROI
Domestic+overseas
fully sold shares

Investment Target

JAFCO continues to identify new target sectors.

Of new investments carried out in FY2018/3, 90% are start-ups and early-stage companies and the majority of these companies are in the internet space.
16
cos
Note: Life science investments in the US (carried out by the
venture investment division in Japan) are excluded.
Companies in the internet space account for more than 90%, but their sectors are diverse, including FinTech, HealthTech (MediTech), and Realestate Tech.
(Reference) Companies:http://www.jafco.co.jp/english/portfolio/
¥11.8
Billion
Note: Life science investments in the US (carried out by the
venture investment division in Japan) are excluded.

Global Investment Structure

As of March 31, 2018

Overall balance of unlisted securities:¥115.9billion(218co’s)
ASIA
・Balance of unlisted securities
: ¥21.3 billion(67 co’s)
・Investment team members
・BD team members
: 8
: 2
JAPAN
・Balance of unlisted securities
: ¥60.2 billion(120 co’s)
・VC team members
・Buyout team members
・BD team members
: 38(110 co’s)
: 11(10 co’s)
: 12
U.S.A
・Balance of unlisted securities
: ¥34.4 billion(31 co’s)
・Investment team members
・Venture partners
・BD team members
: 5
: 4
: 2

Involvement in Management

For start-up companies, which make up the majority of our portfolio, the speed of business launch and growth is most important. Using our network of over 1,000 companies, the BD (business development) teams cooperate with the investment teams to commit to the growth of portfolio companies on a daily basis. The BD teams in charge of each region also work together to arrange cross-border business alliances and M&A exits.
BD case studies:http://www.jafco.co.jp/english/case/

Three Principles

Based on the following three principles, JAFCO will maintain discipline and transparency as a VC pioneer. We genuinely pursue growth of portfolio companies and fund performance.

We will not establish industry-specific funds
We will not establish investor-specific funds
We will not engage in any business other than PE investment and fund management

JAFCO raises capital for a new fund every 3-4 years from institutional investors and business corporations.
While bearing investment management responsibility as the General Partner, we also invest our own capital (generally 30-40%) in all funds and commit ourselves to boosting fund performance.

The General Partner receives management fees of around 2% per annum of the committed capital (fund term: typically 10 years) and success fees of 20% of cumulative realized profit. However, success fees will not be paid to the General Partner unless the amount of cumulative distributions exceeds paid-in contributions.
Est.2013/3
SV4
¥60.0B
Est.2016/8
SV5
¥75.0B

Fund Status

Fund Performance (Main funds in operation)
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