Venture Capital

世界を繋げ未来を築く グローバルサウス投資による 共創エコシステムの創造

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"Creating together". Creating co-creation opportunities between global next unicorn companies and Japanese companies.

The intellectual capital of Japanese companies that have supported social infrastructure, such as solid technology, human resources, customer bases and trusted brands, the outstanding venture spirit and future-oriented service development capabilities of up-and-coming venture entrepreneurs, and expert human resources with a high level of expertise and a wealth of experience and knowledge. These transcend organisational boundaries to provide timely and speedy funding and hands-on support globally for the co-creation of goods and services of value to society, thereby promoting the implementation of services of value to customers and society.

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舩橋 元

ICMG Group, Group COO ICMG 代表取締役社長

Our Strategy

ICMG Ventures' co-creation activities utilise ICMG Group's network of leading Japanese companies to identify suitable synergies for the start-ups in which it invests. In addition, the partnerships with specialist consulting, digital transformation (DX) and social transformation (SX) teams enable the portfolio to allocate more than 100 hours per month, acting as a bridge to facilitate value creation between leading Japanese companies and innovative international startups.

Outcomes

Working with major Japanese companies on a wide range of products from FMCG merchandise to software products. For example, distributing Japanese products on e-commerce start-up platforms in India and Indonesia to analyse consumer behaviour, increase SKUs and attract new customers.
Supporting business expansion into other countries, including Japan, by re-importing digital technology and intellectual capital to Japan, including digital platforms for smart cities in South East Asia, and conducting demonstrations at the prefectural level.

グローバルサウスに見る次なる成長機会

Investmentでは、インドや中東、アフリカといったグローバルサウスを、次なる注力領域に定めています。例えば、インドは人口14億人を超え、2030年には世界第3位の GDPになると予測されるネクスト経済大国です。そこで、 ICMG Groupでは現在、インド人14億人超が手に取る「 棚 」を全て抑えに いく戦略を実践しております。インドでは、日用消費財や医薬品、工業製品など多様なB2BのEコマースや、クイックコマースといわれる新規業態が登場しており、Tier1都市を中心にバリューチェーンを革新しています。
また、Sequoia Capital(現 Peak XV)やTiger Global Managementといった世界的に著名なVCが、そうした領域に投資を行っており、ICMGも共同投資を行っています。世界的なVCと共に、成長著しいプラットフォーマーへ投資を行い、彼らのバリューチェーンやネットワークを活用することで、日本の高品質な商品やサービスを浸透させることができると考えています。また、こうした取り組みは、 日本各地に眠る質の高い商品やサービスを熟知している地 方銀行と共に推進することで、日本経済にとって有益なものになると考えています。
今後、成長機会は西に西に広がっていると考えており、 ICMG Groupが持つバンガロール(インド)、アブダビ (UAE)、ナイロビ(ケニア)の拠点を活用しながら、機会を探 索していきます。直 近ではアフリカのトップVCとの ネットワークも構築し始めており、投資をしながら市場理解を 深め、日本企業の成長機会を見定められるよう開拓してい きます。また、クライアントに対してより多くの成長機会を提供するためにも、より多様なスタートアップに投資を行 い、さまざまな機会の中からクライアントに選んでいただく環境を構築することが重要だと考えています。そのため、現在、ICMG共創ファンドでは総額46億円を運用しておりますが、さらに規模を拡大させ、「今の御 社のご状況を踏まえると、こちらのスタートアップの方が、共創相手としてより面白いのではないですか?」といった提案ができるようになれればと思います。
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Challenges Our Clients Face

CHALLENGE

I don't know how to make investments that generate synergies.

CHALLENGE

Lack of channels to invest in emerging market startups

CHALLENGE

Our own investment activities narrow the industry in which we invest.

How did we help?

ICMG 共創ファンドでは、成長著しいスタートアップへの投資と、日本大企業との共創活動を両軸で推進する取り組みとして、2021年5月にスタートしました。投資家であるクライアントの戦略や、具体的な商品やサービスを熟知した上で、スタートアップへ投資を行い、その後も共創討議に深く入り込み、成果創出に向けて伴走支援をしています。投資を行い、シナジーを見出し、お引き合わせをしたら、「あとはお任せします」というのが多くのVCである中、ICMG共創ファンドでは、投資前から共創案を作成し、投資家の皆さまと対話をしながら具体化し、実際にクライア ントのビジネスになるように支援していくことに重きを置いています。
I expect that we will be able to connect with others that we cannot connect with on our own, and create synergies that we cannot even imagine.

Domestic Financial Institutions

Our Portfolio

The Co-Creation Fund managed by ICMG invests in start-ups in various industries where co-creation synergies with Japanese companies are expected, and supports business creation and ecosystem building in the global market.

Our Presence

40+Number of Investments
$1.1B+Total Amount of Valuation
6Number of Investor Countries
$66M+Total Funds Under Management

Managed Funds

By not only accompanying but also becoming "practitioners" ourselves, we will innovate together with wilful leaders and confront social challenges.

ICMG Co-creation Fund No.1 Investment Limited Partnership

A fund managed by ICMG Partners, Inc. and funded by Japan Airport Building Corporation and Kiriboshi Bank, Ltd. as Limited Partners (LP), which encourages co-creation through partnership between entrepreneurs and large companies that support social infrastructure. The fund is certified by the Ministry of Economy, Trade and Industry as an investment business that promotes the use of external management resources based on the Industrial Competitiveness Enhancement Act.

2021/04/10

ICMG Co-creation Fund No.2 Limited Liability Partnership for Investment

Started fund management based in Singapore, investing in global startups that will become the next unicorns in India and Asia, and accelerating cross-border co-creation projects with Japanese companies.

2025/01/29

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TEPCO-iFrontiers K.K.

A joint venture between Tokyo Electric Power Energy Partners, Inc. and ICMG Group. Aiming to “create new products and services that bring security, convenience, and comfort to our customers' daily lives,” the company offers services such as “Moving Rengrakucho” and other services.

2017/08/08

Website
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CleanGrid Partners Pte. Ltd.

A joint venture between WEnergy Global Pte Ltd and ICMG Group. Manages renewable energy funds in collaboration with local partners.

Voices of Our Founders

Amit Koshal

TWID CEO, Co-Founder

Enabling growth through an open Rewards Network.  "Twid is a reward points payment network based in India that allows users to aggregate their reward points from point issuers and spend them across countless merchants as a form of payment. We at Twid are thrilled to partner with Gen-san and entire ICMG Partners team in this journey to build a large enduring company. The passion and conviction on the business and team was mutual, and we believe that together with Gen-san, the team and their LP's we can learn and build better together."

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Shruti Shruti

ApnaKlub CEO,Co-Founder

Revolutionising Kiranas in India, elevating livelihoods with innovation  “As a founder of ApnaKlub, I am proud to say that we have been able to revolutionize the way FMCG goods are supplied in semi-urban and rural areas in India.  Our mission is to empower and encourage small business owners to set up and expand their hyperlocal businesses by giving equitable access to a large assortment of brands and SKUs, fairer prices, and reliability in supply.

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Joseph Aditya

Ralali CEO, Founder

Empowering business growth via digital ecosystem and services  “Ralali is a B2B E-commerce marketplace focused on MSMEs. We have a strong ambition to accelerate positive changes in Indonesia's B2B e-commerce.  Since the beginning, ICMG's vision has aligned with Ralali's values in terms of a sustainable business and impact on society. We believe ICMG will act as a strong strategic partner and will help to strengthen the company's performance.”

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Ram N Kumar

NirogStreet CEO, Co-Founder

Transforming Alternative medicines with trust, integrating healthcare  “NirogStreet is an Ayurveda Platform in India that is transforming the entire Ayurveda market with a mission to bring forth a positive change towards affordable traditional healthcare for all households.  ICMG’s aim to build an ESG focussed company in healthcare is aligned with NirogStreet’s mission and together with ICMG’s deep operational expertise for Japan Go-to-market strategies, the partnership will enable the Company to enter into new markets like Japan.”

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Fund Management Licenses

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Licensed by the Monetary and Financial Authority of Singapore to manage venture capital funds.

2023/04/27

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Obtained approval from the Ministry of Economy, Trade and Industry for “Special Exception to Overseas Investment Regulations Concerning Limited Liability Partnerships for Investment Business”.

2023/04/04

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Registered as a Qualified Institutional Investors, etc. Special Business by the Kanto Local Finance Bureau of the Ministry of Finance for the establishment of fund business.

2021/04/23

Co-investment Partners

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Our Experts

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We are on a course for growth, together.

Gen Funahashi

ICMG Group CEO, Group COO

ICMG Ventures CEO

ICMG Co-Creation Fund General Partner

Keizai Doyukai

Singapore FSA Certified Fund Manager

B.A. in Economics, Waseda University

Boston University Economics

At Deloitte, he was involved in cross-border M&A of manufacturing clients in the US and UK. He has also managed aerospace and healthcare funds at ACA Investments, a private equity fund in Singapore. He then launched CleanGrid Partners and Greenway Grid Global, joint ventures with Tokyo Electric Power Company and Chubu Electric Power Company to invest in renewable energy and next-generation infrastructure to supply electricity to un-electrified areas in Southeast Asia. He also managed the ICMG Co-Creation Fund No. 1, a venture capital fund started with Haneda Airport and Kiriboshi Bank as LPs, and led the Fund No. 2 as the representative partner.In 2016, he moved to Singapore to oversee investments across Asia, including India, and has co-invested with top Asian VC firms such as Sequoia Capital, Google, Tiger Global Management, and Jungle Ventures. In 2023, he joined Keizai Doyukai (Japan Association of Corporate Executives).

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We will think and act to realize the society as it should be, a new society.

Yoshihiko Shimizu

ICMG Group Advisor

Former Vice President and Representative Director, Sumitomo Mitsui Banking Corporation Former President and Representative Director, SMBC Nikko Securities Former Chairman, Yamanashi Prefectural Federation of People's Associations Director, United Nations Association for UNHCR

Bachelor of Commerce, Waseda University

In 1978, he joined Sumitomo Bank (currently Sumitomo Mitsui Banking Corporation). After achieving a number of successes in corporate sales, he held several important positions, including Managing Executive Officer, General Manager of Corporate Banking Division, Director and Senior Managing Executive Officer, and was appointed Representative Director and Vice President of the bank in 2012. He joined SMBC Nikko Securities in 2015 after retiring from the bank, and was appointed President and Representative Director of SMBC Nikko Securities in 2016, and Chairman and Representative Director in April 2020, leading the company's development.He was appointed to the Board of Directors of Sumitomo Mitsui Financial Group from June 2020 to June 2021. He is currently serving as an advisor to several domestic and foreign funds as well as an advisor to industrial companies. He helps each company realize its mission of contributing to environmental, social, and corporate governance in Japan and beyond. He also serves as President of the Yamanashi Prefectural Association of People's Associations and as a board member of the United Nations Association for UNHCR, promoting local economic development and Japan's cooperation with the international community.

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Creating and Expanding the Co-Creation Ecosystem through International Finance

Yu Aruga

Director, CFO and Global Investment Executive, ICMG Group

Director, ICMG Ventures

Fund manager accredited by the Monetary Authority of Singapore

Member of the Securities Analysts Association of Japan

Certified Management Accountant

University College London M.A. in Urban Economic Development

He was in charge of fund raising, investment and liquidity management in Morgan Stanley's finance division. Later, as a founding member of the Singapore subsidiary of a boutique investment bank, he developed the corporate finance business model for Japanese, Indian, and Southeast Asian companies. He was involved in VC investments in India and advisory services for capital tie-ups to APAC companies.He was also in charge of sourcing and DD for the establishment of a global fund of funds. After that, he worked at Nomura Research Institute Singapore as a consultant in the smart city and agriculture fields, and as an advisor for investment in energy business, before joining ICMG Ventures. He is currently engaged in sourcing and DD of investment targets in Asia and networking with VC firms. He lives in Singapore.

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We will continue to be a challenger toward realizing the richness of a diverse and inclusive society.

Makoto Kigawa

External Director, ICMG Special Advisor

Yamato Holdings, Inc. External Director

Oki Electric Industry External Director

Seven Bank, Ltd. External Director

Higo Bank, Ltd. External Director

Author of "Creating Future Markets" (Nikkei BP, Inc.)

Bachelor of Commerce, Hitotsubashi University

After working for Fuji Bank and Mizuho Corporate Bank, he joined Yamato Transport Co., where he was in charge of structural reforms to make the company a holding company and to realize its growth strategy. He also served as President and Representative Director of Yamato Transport, President and Representative Director of Yamato HD, Chairman of Yamato Transport, and President of the Yamato Group Research Institute, Inc.He has also served as Vice President of the Keizai Doyukai (Japan Association of Corporate Executives) and as a member of the Hitotsubashi University Management Council. He currently serves as an outside director of Seven Bank, Oki Electric Industry, Higo Bank, and others.

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Creating a society in which each and every one of us can fulfill our potential.

Takehiko Ogi

External Director of ICMG

Professor, Kyushu University Business School

Author of "The Law of Decline: The Silent Killer Eroding Japanese Companies" (Toyo Keizai Inc.) Having graduated from the University of Tokyo, Faculty of Law, he holds a B.A. from the Woodrow Wilson School of International Relations, Princeton University, N.J., and an M.A. from the University of California, Berkeley, D. (Economics), Graduate School of Economics, The University of Tokyo

He has served in the Ministry of International Trade and Industry (now the Ministry of Economy, Trade and Industry), as the President and Representative Director of Tsutaya Online, Representative Director and Managing Director of Culture Convenience Club, President and Representative Executive Officer of Kanebo (seconded from the Industrial Revitalization Corporation of Japan), President and Representative Director of Maruzen (now Maruzen CHI Holdings),and President and Representative Director of Japan Human Resources Development Organization. He has always been involved in the forefront of corporate and social reform.

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We must say goodbye to greed and create a society where diversity is respected.

Ryoji Sato

ICMG Chief Strategic Development Officer

Former Executive Officer, Hitachi Capital Former President and Director, Hitachi Capital Securities

B.A. in Social Sciences, Waseda University M.A. in Law and Politics, University of Tokyo

In 1982, he joined Hitachi Credit Corporation (now Hitachi Capital Corporation), where he served as Deputy General Manager of the Accounting Department, Executive Manager of the President's Office, General Manager of Group Strategy Office of Hitachi Capital Corporation, President of Hitachi Capital Securities Corporation, Senior Executive Officer and General Manager of Legal Department of Hitachi Capital Corporation, President and Representative Director of Hitachi Capital General Insurance Corporation, Chairman of Hitachi Lease (China) Co. and Executive Officer and General Manager of Corporate Strategy Division of Hitachi Capital Corporation. He has also served in a number of public positions, including as an expert member of a government council. He is the author of numerous articles and publications.

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“RESULTS, NOT REPORTS”

SURI J

ICMG India CEO

SURI CONSULTANTS PVT LTD CEO

Member, All India Management Federation

Member, Federation of Indian Chambers of Commerce and Industry

Past Chairman, Finance, Capital Markets and Foreign Investment Committee, Bangalore Chamber of Commerce and Industry

M.A. Sydenham University

SURI is the founder and CEO of SURI CONSULTANTS PVT LTD, a Bangalore-based financial and corporate advisory firm with over 40 years of continuous service and success since its inception in 1980. 2005, he co-founded Bizworth India Pvt Ltd, a next-generation consulting firm specializing in the measurement and valuation of companies and assets including intangible assets and intellectual capital. In 2005, he co-founded Bizworth India Pvt Ltd, a next-generation consulting firm specializing in the measurement and valuation of companies and assets, including intangible assets and intellectual capital. He is a member of the All India Management Association, FICCI (Federation of Indian Chambers of Commerce and Industry) and is the past Chairman of the Finance, Capital Markets and Foreign Investment Committee of the Bangalore Chamber of Commerce. He is also currently a member of the Bangalore Chamber of Commerce's Banking, Finance and Corporate Legal Affairs Expert Committee and serves as an outside director of Indian-owned and multinational companies. He is a regular speaker and panelist at seminars and workshops in various countries.

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