Current andoutlook Issues of Japan VC Status industry VC Industry in Japan December, 2013 Japan Venture Capital Association Outline of Japan Venture Capital Association （Ⅰ） ■ ■ ■ ■ Name： Japan Venture Capital Association （JVCA） Establishment : November 28,2002 Address : Shinjuku Front Tower, 2-21-1,Kitashinjuku,Shinjuku-ku,Tokyo,Japan Committee Members (as of October 1, 2013)： Chairman Toshihisa Adachi (President & CEO, ITOCHU Technology Ventures, Inc) Vice chairman Masatoshi Go (President, TNP Partners Corporation) Vice chairman Kazunori Ozaki (Chairman & CEO, Ant Capital Partners Co., Ltd ) Senior managing director Ryuji Ichikawa (President, Venture Enterprise Center) Managing director Kei Andoh (President, Mitsubishi UFJ Capital Co., Ltd) Director Shigeki Saitoh (Managing Director, CEO, Strategic Investment Partners , Inc.) Director Kenichi Kawasaki (President, Daiwa Corporate Investment Co., Ltd.) Director Tsutomu Yoshida (President & CEO, Mitsui & Co. Global Investment Ltd.) Director Rinzo Mizutani(President, Shizuoka Capital Company Limited) Director Mikihide Katsumata (President & CEO, Mobile Internet Capital, Inc.) Director Eiji Arima (President, NISSAY CAPITAL CO., LTD.) Director Fumiyuki Kashima (President & CEO, DBJ Capital Co., Ltd.) Director Soichi Tajima (President & CEO, CyberAgent Ventures, Inc.) Director Tohru Akaura(General Partner & Co-Founder, Incubate Fund) Auditor Tadashi Takiguchi (President & CEO, WERU INVESTMENT CO., LTD) Auditor Hiroyuki Yamasaki (Senior Advisor, Ernst & young ShinNihon LLC) 1 Copyright©JVCA2013 Members (As of July 11, 2013)： VC Members 46 firms, Supporting Members 77 entities 【VC Members】 iSigma Capital Corporation Ant Capital Partners Co., Ltd. Cyber Agent Ventures, Inc. Entrepia Japan, Inc. SENSHU IKEDA CAPITAL CO., LTD. ITOCHU Technology Ventures, Inc. Innovation Engine Inc. Iyogin Capital Co., Ltd. Incubate Fund WERU INVESTMENT Co., LTD. Strategic Investment Partners Inc. Angel Capital Co., Ltd. ORIX Capital Corporation Kyushu Venture Partners Co., Ltd. Globis Capital Partners Inc. KSP Inc. The Gogin Capital Co., Ltd. SANSEI CAPITAL INVESTMENT CO., LTD. SunBridge Corp. SHIZUOKA CAPITAL CO.,LTD Shinkin Capital Co., Ltd. Daiwa Corporate Investment Co.,Ltd. DBJ Capital Co.,Ltd. TNP On The Road Corporation TNP Partners Corporation The University of Tokyo Edge Capital Co.,Ltd. THE TOTTORI CAPITAL CO., LTD. NISSAY CAPITAL CO., LTD. Copyright©JVCA2013 Japan Asia Investment Co., Ltd. Japan Private Equity Co., Ltd. Nippon Venture Capital Co., Ltd. NEOSTELLA CAPITAL CO.,LTD Hiroshima Venture Capital Co., Ltd. Fidelity Growth Partners Japan Future Venture Capital Co., Ltd. HurrayTrust Inc. Hokkaido Venture Capital Inc. MITSUI SUMITOMO INSURANCE Venture Capital Co., Ltd. Mitsui & Co.Global Investment,Ltd. Mitsubishi UFJ Capital Co., Ltd. Mobile Internet Capital Inc. MOVIDA JAPAN Inc Yasuda Enterprise Development Co.,Ltd. YAMAGUCHI Capital CO., LTD. DOCOMO Innovation Ventures, Inc. TEL Venture Capital, Inc. 【Supporting Members】 i-common company,Ltd. KPMG AZSA PricewaterhouseCoopers Aarata AZX Professionals Group UCHIDA &SAMEJIMA LAW FIRM A&A Partners SK Ventures Co.Ltd. Gerson Lehrman Group, Inc SRI brain,Ltd. CAPITAL BANK CO.,LTD KIMURA TAKUSIMA YAMAGUCHI LAW FIRM Kyosei International Patent Office Kyoto Research Park Corp. CLAIR LAW FIRM Coller Capital Ltd. BDO Sanyu & Co. Japan Venture Research Co.,LTD JSR Corporation JONES DAY National Institute of Information and Communicatios Technology Ernest& Young Shinnihon Takara Printing Co., Ltd. TMI Associates HONGO TSUJI TAX & CONSULTING Dentsu Digital Holdings Inc. Tokyo Stock Exchange, Inc. Tokyo Small and Medium Business Investment & Consultation Co.,Ltd TOYO Horwath Deloitte Touche Tohmatsu LLC Nishimura & Asahi Japan Securities Dealers Association The Japan Academic Society for Ventures and Entrepreneurs bhp France Telecom Co.,Ltd. PRONEXUS INC. Venture Enterprise Center Mizuho Information & Research Institute, Inc. MITSUBISHI UFJ TRUST AND BANKING CORPORATION Mirai Securities Co., Ltd. RISK MANAGEMENT BRAIN Co.,Ltd 2 Outline of Japan Venture Capital Association （Ⅱ） ■ Mission and objectives Japan Venture Capital Association （JVCA） was established in 2002 as Japan’s first and only organization with the specific aim assisting venture capital （VC） firms and venture business supports. JVCA’s mission is to promote the interests and development of its members while contributing to innovation in Japan and the global society. ■ Major activities (１) (２) (３) (４) Proposals on VC policy, regulation and accounting matters, etc. Public relations Conference and regular networking events for members and others Collaboration with venture support organizations （governments, capital market-related institutions, academia, etc.） (５) Education programs for venture capitalists and entrepreneurs (６) Cooperation with foreign VC associations 3 Copyright©JVCA2013 Figure 1. IPO trends in Japan （No.） 200 （188） （175） （158） 24 150 33 19 （121） 115 14 116 100 151 50 92 139 155 77 107 7 36 42 0 2004 2005 2006 2007 IPO no. in emerging markets Other Market （48） （49） 2008 （38） （19） 0 6 7 13 （22） 2009 2010 0 10 6 16 1 9 28 22 2011 29 39 2012 IPO no. in ready-made markets VC-backed IPOs ・( )=Total IPO companies in all markets including emerging markets ・Excludes Seven Bank, Ltd. from the number of 2011. ・Other Market･･･TOKYO PRO MARKET ・"VC-Backed IPO" covers listed companies in emerging markets. Copyright©JVCA2013 2 7 4 Figure 2. Annual Investment Amount (Millions of US$) 3,000 (Number of companies) 2,774 3,000 Amount of investment 2,579 2,500 Number of investee Companies 2,000 2,000 1,294 991 1,000 1,000 915 2,790 0 1,017 1,933 1,366 875 1,132 1,500 1,240 2006/4-2007/3 2007/4-2008/3 2008/4-2009/3 2009/4-2010/3 2010/4-2011/3 2011/4-2012/3 500 0 ※US$ amounts are converted, for convenience only, at the rate of ¥100=1US$ 5 Copyright©JVCA2013 Figure 3. Total balance of funds, number of fund establishments, and amount of investment （Millions of US$) (Number of funds) 45 25,000 39 19,293 20,000 40 18,454 16,807 17,827 16,785 31 15,000 23 10,000 2,740 0 848 30 25 20 15 5,000 35 474 15 13 525 10 1,197 2007/4-2008/3 2008/4-2009/3 2009/4-2010/3 2010/4-2011/3 2011/4-2012/3 5 0 Fisical year-end balance capital commitment to new funds number of new funds ※US$ amounts are converted, for convenience only, at the rate of ¥100=1US$ 6 Copyright©JVCA2013 Japan Venture Capital Association Shinjuku Front Tower 4F, 2-21-1, Kitashinjuku, Shinjuku-ku Tokyo, 169-0074 Japan TEL:81-3-5937-0300 FAX:81-3-5937-0301 E-mail：[email protected] URL:http://www.jvca.jp Copyright©JVCA2013
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