JAFCO Group was founded in April 1973 as Japan Associated Finance Co., a joint venture between Nomura Securities, Nippon Life Insurance, and Sanwa Bank, at a time when the American concept of venture capital was still largely unknown in Japan. Now considered both the oldest and largest independent venture capital firm in the country, JAFCO operates two distinct strategies - venture investment for startups and buyout investment for revitalizing established small and mid-sized companies - and is itself publicly listed on the Tokyo Stock Exchange, an unusual structure for a firm whose core business is investing in other companies. Since its founding, JAFCO has invested in more than 4,246 companies and helped over 1,041 of them reach IPO, a track record with no real parallel among Japanese venture firms, and now manages roughly $6.8 billion across more than 100 funds.
Mercari's 2018 Tokyo Stock Exchange IPO - one of over 1,041 portfolio IPOs JAFCO has facilitated since its founding, more than any other Japanese venture firm