Fund Overview
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 shareholder 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$100m.
We respectfully acknowledge the Traditional Owners of the land on which we work and learn, and pay respect to the First Nations Peoples and their elders, past, present and future.
Portfolio
Kepler Analytics - Melbourne
AI platform for brick-and-mortar retailers that collects and analyses customer behaviour data to recommend actions that effectively grow sales.
Why we like them
Kepler’s in-store sensors help retailers to better understand and optimise how customers experience their store environment, providing a digital interface to the physical retail environment and enabling better data-driven decision-making capabilities across a range of business areas. InterValley will actively assist their global expansion with focus on Japan.
2020 Investment with follow on investment in 2021
Myriota - Adelaide
Global leaders in low-cost, low-power, secure direct-to-orbit satellite connectivity for the Internet of Things.
Why we like them
Myriota are leading this sector of New Space with the most advanced satellite communications for remote and urban IoT devices avoiding the need to use cellular networks. Their existing nano-satellite constellation is the most well developed with clear plans to optimise global coverage and facilitate real time communications anywhere on Earth.
2020 Investment with follow on investment in 2022
Baraja - Sydney
Self-driving is hard. Baraja has invented a new type of LiDAR called Spectrum-Scan™ which delivers the highest performance available to address the challenge of self-driving cars. Baraja is a rapidly growing start-up, with a revolutionary LiDAR for self-driving vehicles.
Why we like them
Baraja are at the cutting edge of Autonomous driving technology. Equally the strong relevance of this sector to Japan and with Hitachi as a co investor it made Baraja and ideal investment for InterValley.
2020 Investment with follow on investment in 2021
XY Sense - Melbourne
XY Sense is a next generation occupancy sensor that helps companies unlock live, 100% anonymous data to futureproof the way they plan, use and monitor office space.
Why we like them
XY Sense have a proven track record and have built on previous experience in this sector to solve and answer office space planning challenges which is ever more relevant as the world's population returns to working in offices post pandemic
2021 Investment with follow on investment in 2022
Quintessence Labs - Canberra
Quintessence Labs offers the strongest security foundation for data. This includes centralized enterprise key and policy management, a high-speed true random number generator, an integrated hardware security module, and highly secure encryption for data in uncontrolled environments.
Why we like them
QuintessenceLabs’ portfolio of modular security products addresses the most difficult security challenges facing organizations, helping implement robust security strategies to protect data today and in the future.
2021 Investment
Hemideina - Melbourne
Hemideina's bio inspired proprietary mechanical signal processing technology can be applied to hearing implant treatments for severe-to-profound deafness.The objective is to develop a new hearing implant system - “The Hera Wireless Implant” to address the challenges of the current treatment including speech perception, lifestyle, size, aesthetics and battery life.
Why we like them
We were very impressed by the original thinking of this all female founder team whose technology can bring a big improvement to the every day experience of having a hearing implant.
2021 Investment
Remi.ai - Sydney
A state of the art machine learning platform that supports critical decisions across global Retail and Ecommerce supply chains.
Why we like them
We were very impressed by the team and saw Remi as directly addressing both problems the InterValley team understood but also was a business ideally positioned for solving the supply chain pressures triggered by the 2020/21 Pandemic
2022 Investment
Cydarm - Melbourne
Cydarm was one of the first graduates of CyRise, Melbourne’s cyber security startup accelerator. Cydarm's mission is to enable cyber resilience through better and faster security operations accelerated by adaptability.
management platform that enables cyberseegrate, and respond with ease..
Why we like them
We were very impressed by the team and had tracked their progress since 2019 and saw the challenge they were addressing consistent with enabling effective management the growing cyber security threats across the world.
2022 Investment
Hillridge - Sydney
Hillridge understand farming is hard, especially during extreme weather conditions. Their weather-based technology aims to improve the coverage and quality of insurance for farmer in Australia and around the world, in a way that goes well beyond current crop or livestock insurance.
Why we like them
It was an impressive and innovative approach to a real problem faced by farmers - particular small farmers supporting our ESG objectives as a fund.
2022 Investment
Strongroom - Melbourne
Strongroom use artificial intelligence within their drug management platforms to reduce adverse drug events within the Pharmacy, Hospital and Aged Care Facility settings.
Why we like them
We have been close to the Strongroom team for over 18 months - we like the team and have been very impressed as they proved out their business model and set themselves up for international growth. They also had the perfect Japanese angle for us.
2022 Investment
Global Team Members
Jun Hosoya
Founding General Partner, CEO Japan
JapanJun 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.
Education:
MBA, University of Chicago; BA, Rikkyo University
Simon Wright
Founding General Partner and Managing Partner
Asia Pacific & EuropeFrom the UK, Simon Wright has extensive experience within entrepreneurial environments. For nearly 20 years he held CEO and CFO positions within the Virgin Group working closely with Sir Richard Branson.
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.
Simon was responsible for the Virgin Group's operations in Japan over a 10 year period including successfully managing the launch of two start up businesses in Japan.
Simon has deep experience in starting, growing and exiting businesses in all parts of the world, and worked on boards across a range of sectors, affording him perspective on requirements to successfully globalise businesses.
Simon is based in Melbourne, Australia.
Education:
Sheffield Business School, Finance; Chartered Institute of Accountants (ACMA); GAICD
Shigeki Usuki
General Partner, Representative of New Frontier Capital Management
JapanShigeki 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.
Education:
BA in Economics, University of Tokyo.
Yasushi Kuroda
Founding Partner
Japan & AustraliaYasu 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’.
Education:
MBA, University of Pennsylvania; BA, Keio University
Doron Ben-Meir
Chair of Investment Committee
AustraliaDoron 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 Chair of InterValley’s Investment Committee.
Education:
BSc, Monash University; BEng (Hons), Monash University, GAICD
