As such, its venture capital industry looks well-poised to continue developing significantly in the coming decade. Japan is the third-largest economy in the world, and its start-up ecosystem is being strengthened by government initiatives and corporate interest. Preqin, together with the JVCA, is proud to add the new Japan venture capital performance benchmark into its comprehensive suite of industry-leading benchmarks in an effort to shed more light on the sector. “As the Japanese venture capital industry grows at a great pace, more institutional investors are looking to enter the market, adding to the need for more data and transparency. Jie Sin Chia, Head of APAC Products – Preqin: Also, distributions to fund investors have increased for four consecutive years since 2012, with total distributions of nearly JPY 100 billion across 76 funds in 2015. In the wake of the GFC, inflows into domestic venture capital funds declined significantly, but have been on a recovery path since 2013, hitting a 10-year high of JPY 76bn in 2017. The study shows that funds established between 20 had a median net IRR of more than 14% and found that funds established in the immediate aftermath of the GFC had particularly good returns – funds with vintage 2012 reached a median net IRR of 31%. It is based on data compiled from 76 venture capital funds with vintage years between 20, managed by 24 different JVCA members. It is the first Japanese venture capital benchmark comprised entirely of pure third-party venture capital funds. With the venture capital industry in Japan booming over the past two decades, reaching a market capitalization of JPY 2.5tn, this new benchmark has been created to meet the demand for more transparent and comprehensive data to assess fund performance. Our CEO and CIO, Shinichiro Shiraki, honorably contributed as Head of LP relations committee of Japan Venture Capital Association (JVCA) to a partnership between Preqin and JVCA to produce a performance benchmark for Japan-based venture capital funds, which was announced on 4th of June, 2020. ![]() Japan-based VC funds have generated steady returns over the past 10 years, with funds raised in the wake of the Global Financial Crisis making the largest gains.
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