Leveraging early stage Australian technology companies into the Japanese market
Australia is experiencing a surge in high tech and tech value creation as exemplified by burgeoning Australian unicorns like Canva, Atlassian, Airwallex and Judo Capital. As of January 2020, Australia has $2-2.5Bn available in venture capital funds under management to develop quality, high growth companies. Critically, Australia has an affordable talent pool and realistic deal pricing – a healthy contrast with other global venture investing hot spots.
Japan’s outbound M&A and investment in open innovation is at an all time high. This reflects its desire to combat secular economic headwinds, with corporate Japan looking abroad for new technologies and product ideas to complement existing (and create new) revenue lines. Japan also has global distribution networks and supply chains seeking ways to improve performance.
InterValley is a geographically focussed VC fund established to take advantage of both these trends. The fund leverages high quality, scalable, early stage Australian technology companies into the Japanese market, complementing the strategic direction of an increasing number of Japanese corporates at precisely the right time.
Japan has traditionally been viewed as a difficult market to penetrate for Australian companies. InterValley’s cornerstone investor, Mizuho Securities (managed by New Frontier Capital Management), uniquely provides the firm with privileged access to the client base of its parent company, Mizuho Financial Group, which has deep relationships with more than 70% of corporate Japan. InterValley will leverage these relationships for the benefit of the Group’s corporate clients and InterValley Limited Partners. This positions InterValley as a co-investor of choice for the best VCs in Australia for portfolio assets relevant to Japan.
At the end of 2019, InterValley successfully announced its first closing. The fund is now active in the market, with a focus on securing further financial and strategic investors in the fund with a target of AUD$200m.
Global Team Members
General Partner/Founder, CEO
Jun Hosoya has more than 30 years of investment management experience across Japan and the USA, including 46 venture investments. His many successful exits include 8 IPO’s, 6 M&A transactions and 3 trade sales.
Jun was the founding member and Managing Director of INCJ (Innovation Network Corporation) in 2009, a Japanese VC fund with an AUM of USD 20 billion. At INCJ Jun was responsible for investment and management of early stage innovation companies. Jun also launched the Life Science IP Fund and MedVenture Partners, an incubation fund for medical devices.
Prior to INCJ, Jun was a Partner for Apax Globis, a VC fund in Tokyo, where he led the Technology Investment Team. Prior to that Jun was International Portfolio Manager for NED, responsible for managing investments in Silicon Valley.
Jun has served as COO and has been a board director for numerous portfolio companies in early stage, pre-IPO and post-IPO stages. Jun is currently the Charter Member of TiE Japan.
MBA, University of Chicago; BA, Rikkyo University
General Partner, Chair
Doron was the founding CEO of Commercialisation Australia (Federal Government) and subsequently the founding Director of the Entrepreneurs Programme. In these roles he contributed to supporting over 500 seed to early stage ventures by investing over $350m and building a unique government-led ecosystem. His continuous involvement in the program spanned seven years, from conception to maturity. He is highly regarded in Australia and beyond.
Prior to these positions, Doron spent 20 years as a venture capitalist and serial entrepreneur, having co-founded 6 technology companies and invested-in and/or managed several others.
For the last 5 years, Doron was the Vice President (Enterprise) at the University of Melbourne, where he co-founded BioCurate Pty Ltd, was Chairman of University of Melbourne Commercial Ltd, and represented the University on the Board of the NASDAQ Entrepreneurial Center in San Francisco, California.
Doron is also chair of InterValley’s Investment Committee.
BSc, Monash University; BEng (Hons), Monash University, GAICD
General Partner, Representative of New Frontier Capital Management
Shigeki is CEO of NFCM Hong Kong and Executive Vice President of NFCM, with extensive experience as an Investment Committee member and representative of New Frontier Capital Management of various global funds including Cybernaut New Frontier Venture Fund (China VC), CMH Growth Fund (China PE) and Tata Capital Growth Fund I & II (India PE).
Shigeki previously served as Head of Investment Department at Mizuho Securities for 7 years and was responsible for the Private Equity fund business of Mizuho Securities. He has worked in the Tokyo and New York offices of the Mizuho group and has approximately 20 years of experience in Corporate Finance, Cross-border M&A, Capital Markets and PE Fund Management.
Shigeki was also Head of Fund working Group at the Investment Banking Unit of Mizuho Financial Group., and has been the CEO of NFCM Hong Kong and Executive Vice President of NFCM since 2015.
BA in Economics, University of Tokyo.
Asia Pacific & Europe
From the UK, Simon Wright has extensive experience within entrepreneurial environments. For more than twenty years he held CEO positions within the Virgin Group working closely with Sir Richard Branson and was a member of the Investment Committee for the Group.
As well as working alongside many entrepreneurs, Simon also brings extensive deal experience having directly managed exits over USD$1bn in value with Virgin. Since then Simon has worked with some of the largest Private Equity firms in the Europe and the USA, most recently working with Bridgepoint Capital on a USD1.1bn exit; a top three investment fund in Europe.
Simon has extensive experience in starting, growing and exiting businesses in all parts of the world, including in Japan, the US, and UK, and worked on boards across a range of sectors, affording him perspective on requirements to successfully globalise businesses.
Simon is based in Melbourne, Australia.
Sheffield Business School, Finance; Chartered Institute (ACMA); GAICD
Richard Lawson is an investor and data scientist with a deep background as quantitative investor and researcher. Throughout his career he has specialised in the application of artificial intelligence to managing investments within capital markets.
Richard has extensive experience implementing the quant-data pipeline and building multi-factor quantitative stock selection models in a global setting. Richard started his career on the sell side at top tier firms such as JPMorgan and Macquarie, then broadened to funds management and hedge funds.
At Schroder Investment, Richard was in a team managing more than USD 40 billion. His role was to invest in globally listed companies based on mathematical models of company and industry characteristics. Richard lectures at Macquarie University on quantitative investing and quantitative techniques for deal evaluation.
BSc (Hons), University of Sydney; MCom (Funds Mgmt), University of New South Wales; MAICD
Japan & Australia
Yasu Kuroda has more than 15 years experience in venture investment and venture incubation. His portfolio includes 10 high-tech ventures. Yasu’s successful exits include 1 IPO and 4 M&A’s, with other investments still running. He was previously Deputy General Manager of Mitsui Sumitomo Insurance Venture Capital, a USD 200 million VC.
Yasu has a strong background in leadership development, coaching, and organizational development, which he now brings to his role as an investor. He has served as board director for numerous early stage companies. Leveraging his HR skills, Yasu has engaged in value-add and turnaround strategies for various portfolio companies. He was instrumental in core hires & building the management team of the company that has already gone to IPO.
Being married to an Australian, Yasu has a solid network within Australia’s innovation ecosystem including with Austrade, local VC’s and as a member of the expert network for the government scheme ‘Accelerating Commercialisation’.
MBA, University of Pennsylvania; BA, Keio University
* “Past performance is not a reliable indicator of future performance”.
Professor Toby Walsh
Toby Walsh is Scientia Professor of Artificial Intelligence at the University of New South Wales, research group leader at Data61, guest Professor at Technical University of Berlin, external Professor of the Department of Information Science at Uppsala University and an honorary fellow of the School of Informatics at Edinburgh University. He is a fellow of the Australian Academy of Science, the Association for the Advancement of Artificial Intelligence and the European Coordinating Committee for AI
Professor Fabio Ramos
Fabio Ramos is an Professor in machine learning and robotics at the School of Information Technologies, and co-director of the Centre for Translational Data Science at the University of Sydney. He has over 130 peer-reviewed publications and received numerous best paper awards. His research focuses on statistical machine learning techniques for large-scale data fusion with applications in robotics, mining, environmental monitoring and healthcare
John Lee, M.D.
John Tsung-Chun Lee, M.D. is a Taiwanese physician scientist turned entrepreneur in medical technologies, trained in Taiwan (NTU), Japan (Keio), and US (Stanford/Silicon Valley). John teaches Medtech, Biodesign & entrepreneurship at major Taiwanese universities.
FIEA Article 63:
本ファンドは金融商品取引法第63条に基づく「適格機関投資家等特例業務」に関する特例の適用を受けています。適格機関投資家等特例業務に関する公衆縦覧【法第63条第６項】はこちらのリンクからご覧頂けます。Form 20-2 [Japan]
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InterValley Ventures Pty Ltd has filed the Notification for Specially Permitted Businesses for Qualified Institutional Investors, etc. (SPBQII) to the Financial Services Agency of Japan pursuant to Article 63 of the Financial Instruments and Exchange Act (FIEA). Public Inspection Regarding Specially Permitted Businesses for Qualified Institutional Investors, etc. [FIEA Article 63(6)] is available at the following link: Form 20-2 [Japan]
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