Chihiro Kato

It's been quiet for a while and now back to the field again. After 6 months of strategy brainstorming, we collaborated with several regional Private Equity and Venture Capitals. We are mandated to identify 100 potential regional MSMEs and MSMIs to participate in the new launch pool of the Incubation Fund, the first batch of which has been kicked off at USD500 million. If you are currently in the fundraising mode to drive the business and have the intention to route an IPO in any listing destination, we have an alternative fundraising mode to connect you to the relevant platform. It shortens your fundraising tenure with effective and efficient time resources. Welcome to drop the Business Proposal privately and we shall deal with you within the next 24 hours. The preliminary terms and conditions will be as follows; 1) Latest audited annual revenue > USD5 million; 2) Latest audited profit before taxation > USD1 million; 3) Agree to position the IPO as an exit strategy; 4) Preferably with technology-backed organization; Looking forward to your participation. Cheer.

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I had an interesting chat with Yuke Xie from the South China Morning Post SCMP recently on the evolving investment strategies of Middle Eastern institutions and family offices.    Traditionally centered on the US and Europe, these investors and institutions are now turning their attention to the dynamic economies of #SoutheastAsia.    Looking forward, I foresee Southeast Asia maturing significantly as an investment hub, driven by its vibrant entrepreneurial ecosystem and fast-growing middle class. I believe Southeast Asia could well become a third pillar of international diversification for Middle Eastern investment, and #healthcare could potentially be a focal point.    Exciting times lie ahead for our SEA team of investment professional & operators, and we are currently raising a Southeast Asia-focused healthcare growth capital fund to capitalize on this growth.   Read more about it in the following link:

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Redefining Success with Channel Partners in China In over two decades of navigating the complexities of the Chinese software market, one insight stands out distinctly: Success hinges not just on what you know, but on who you work with and how. The Chinese market, with its unique business ecosystem, demands a nuanced approach to channel partnerships—a lesson we've learned and honed at ADG. The conventional strategy that many foreign software vendors employ often hits a wall in China. Why? The local reseller landscape is markedly different, requiring a deep understanding and strategic leverage of these partnerships. This understanding is not merely about identifying who can help but also about strategically aligning with partners to avoid common yet avoidable mistakes. One critical realization is the distinction between various reseller types—each with its unique strengths, weaknesses, and roles in the market expansion journey. From cross-border facilitators who offer a gateway to the market, to specialized VARs who can be instrumental in clinching larger deals, recognizing the right partner for the right phase of your expansion is key. The biggest takeaway for any software company eyeing China is this: Tailoring your entry and growth strategy to the unique dynamics of Chinese channel partnerships can dramatically accelerate your success. At ADG, we've distilled these insights into actionable strategies, helping companies navigate the nuanced path to growth in China. Let's engage in a deeper conversation on how a refined approach to channel partnerships can unlock new levels of success in China's dynamic software market. #ChannelStrategy #SoftwareSales #ChinaMarket #ADGInsights #LeadershipThoughts https://hubs.ly/Q02qFlf-0

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Redefining Success with Channel Partners in China In over two decades of navigating the complexities of the Chinese software market, one insight stands out distinctly: Success hinges not just on what you know, but on who you work with and how. The Chinese market, with its unique business ecosystem, demands a nuanced approach to channel partnerships—a lesson we've learned and honed at ADG. The conventional strategy that many foreign software vendors employ often hits a wall in China. Why? The local reseller landscape is markedly different, requiring a deep understanding and strategic leverage of these partnerships. This understanding is not merely about identifying who can help but also about strategically aligning with partners to avoid common yet avoidable mistakes. One critical realization is the distinction between various reseller types—each with its unique strengths, weaknesses, and roles in the market expansion journey. From cross-border facilitators who offer a gateway to the market, to specialized VARs who can be instrumental in clinching larger deals, recognizing the right partner for the right phase of your expansion is key. The biggest takeaway for any software company eyeing China is this: Tailoring your entry and growth strategy to the unique dynamics of Chinese channel partnerships can dramatically accelerate your success. At ADG, we've distilled these insights into actionable strategies, helping companies navigate the nuanced path to growth in China. Let's engage in a deeper conversation on how a refined approach to channel partnerships can unlock new levels of success in China's dynamic software market. #ChannelStrategy #SoftwareSales #ChinaMarket #ADGInsights #LeadershipThoughts https://hubs.ly/Q02zW1lg0

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Enjoyed participating in a discussion on mobilizing investment to deliver a net-zero economy at the #JapanEnergySummit. The biggest barrier constricting VC capital flow is the potential for"death-by-pilot" where start-ups fail to secure the necessary funding required to support multiple iteration and scale-up phases often with moving goalposts from customers and partners. Contrary to popular belief, it is often commercial inertia that extends these timelines, not fundamental technology issues. While commercial partners need to manage risk, start-ups need to find partners where the highest levels of management see the vision for future alignment and are not just tinkering. And start-ups need to be able to give confidence to investors by striking early commercial deals with these partners that are subject to performance milestones and show real skin in the game.

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This is one of the more significant recent growth equity investments in Japan as mega global private markets asset manager KKR and leading Canadian pension fund manager Ontario Teachers'​ Pension Plan's Teachers Ventures Growth entity lead the $140 million Series E funding for SmartHR, Inc., a Japanese cloud-based human resources and labor management software startup. This round comes three years after the company raised a $142.5 million (15.6 billion JPY) Series D at a valuation of $1.6 billion. SmartHR, Inc.'s earlier investors include Light Street Capital,Sequoia Capital Global Equities, and Whale Rock Capital Management LLC. What is particularly significant and interesting is the activity and role of fund managers traditionally focused on leveraged buyouts in Japan now playing into the growth equity market segment which has generally faced a dearth of capital in the Japanese market. One of the key challenges for start-ups in Japan is that while there is significant early stage capital as well as an overabundance of corporate venture capital, the growth equity segment is limited and therefore companies often go public too early with limited revenue traction, the need to slow growth to demonstrate profitability on public markets, and the lack of institutional public growth capital to support the companies post-IPO as they are often driven by retail investors - the growth segment of the Tokyo Stock Exchange is over 60% retail investor-driven. Many start-ups prematurely list the companies at median ~$100 million valuations that often trade down with limited volume and the ability for investors to meaningfully exit. There is no doubt an opportunity for fund managers, both locally and globally, to invest in the growth private markets segment in Japan and prepare companies more suitably for institutional public market investors. Besides KKR in the SmartHR, Inc. case, other traditional international buyouts firms are now seriously evaluating the minority private markets growth equity segment in Japan, based on my conversations with various private equity firms. Further, the traditional "crossover" public-private market investors are starting to assess the Japanese market opportunity and I can see them entering over the course of the next 18 months. That being said, many of those "crossover" investors have been hammered by euphoric investments during the great bull-market of the past 5 years. Either way, the private markets growth equity opportunity in Japan is necessary and attractive, and I see established and new fund managers investing and raising capital for this part of the market. #japanesemarket #alternativeassets #privatemarkets #growthequity #privateequity #venturecapital #series3 #japan #pensionfunds #fundmanagers #kkr #asiapacific #capitalmarkets #institutionalinvestors https://lnkd.in/drFrBPAr

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My views on AI/tech trends and Southeast Asia as an investment destination, published on Digital News Asia. Looking forward to speaking tomorrow at the DisruptInvest Summit in Kuala Lumpur.

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Malaysia is emerging as a top mergers and acquisitions (M&A) destination in Southeast Asia. With an 87% surge in deal volume this year, the country has captured significant attention, particularly from global PE firms seeking new opportunities. As an alternative to China, Malaysia is increasingly becoming a focal point for bankers, with digital infrastructure a key sector driving investor interest. Want to learn more about this exciting trend? Check out the full article: https://lnkd.in/eqgHWecW   Follow Kepler Search for #jobs and insights on #investments #business #economy, #executivesearch, and more. #mergersandacquisitions #Malaysia

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#global_investing James Wang, Managing Director at Fosun Asset Management, joined Giovanni Amodeo for an engaging fireside chat. The discussion covered a wide range of topics, providing valuable insights into global investing, technology trends, and Fosun’s strategic approach. Below are the key highlights from the conversation: https://lnkd.in/db-Sj68D

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According to a report by Nihon Keizai Shimbun, JCCL (Fukuoka City), a start-up company from Kyushu University, announced on April 24 that it will begin selling a device that separates and recovers carbon dioxide (CO2). The device uses absorbents and permeable membranes to capture CO2. Each unit will be sold for approximately 50 million yen. Inclusion Japan, Inc. has made a seed investment in the company. CCUS, an initiative to reduce CO2 emissions by separating and recovering CO2 for reuse in various products and fuels, is expected to become an important topic in the Japanese venture capital industry in the future. In Fukuoka, there is a company called Seibu Giken, which went public last year. This company is a top niche manufacturer of desiccant air conditioners, desiccant dehumidifiers, and VOC concentrators using functional honeycomb laminates. Both products are based on deodorization and dehumidification technologies. I expect that many technology startups will follow Seibu Giken's lead and go public in the Kyushu region. https://lnkd.in/gDRyUpdm

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Congratulations to my former colleagues The Carlyle Group Japan on raising their fifth and largest Japan-focused fund at $2.8 billion, nearly 70% higher than the previous fund! About 70% of the investors in The Carlyle Group's new Japan fund are non-Japanese - a testament to the heightened interest of foreign institutional investors in the Japanese market. The Japan fund and team are one of the the best performing and most established across the entire The Carlyle Group system. There should be an increase in take-private and corporate carve-out transactions in Japan - but can the prior consistent returns be maintained at this landmark fund sizing? Either way, congratulations to all and see you again soon in Tokyo! #japan #fundraising #buyout #privateequity #alternativeinvestments #fundmanagers #privatemarkets #capitalmarkets #institutionalinvestors #carlyle #tokyo #asiapacific https://lnkd.in/epNvPJZb

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#China_Merchants_Capital #KKR China Merchants Capital and private equity funds including KKR & Co. are among firms considering bids for pallet maker Loscam Asia Pacific Co., according to people familiar with the matter. The investment arm of China Merchants Group and KKR have each been evaluating the business ahead of potential non-binding offers that could come as soon as Friday, the people said, asking not to be identified because the matter is private. A sale of Loscam, whose owners include China Merchants Group, Trustar Capital and FountainVest Partners, could fetch $2 billion to $2.5 billion, the people said. Loscam’s assets have also drawn preliminary interest from other alternative asset managers including Blackstone Inc. and EQT AB, the people said. While the owners are looking to divest the entire company, which operates in Australia, New Zealand, Greater China and Southeast Asia, some suitors may consider a bid for specific geographies, according to the people. https://lnkd.in/dudga7xT

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We've supported the AVCJ Private Equity Forum for the last 10 years, consistently the leading conference for PE in Asia Pacific. With an impressive gathering of experienced GPs and LPs, this represents a great opportunity to better understand the latest industry developments. Please join me for the panel discussion on Value Creation that I'm moderating on Thursday, Nov 21. #privateequity#valuecreation#Alvarez&Marsal#operations

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Congratulations to Sean (Xiang) Ren, Tyler Z. and Sahara AI team for a successful Series A fundraising. SCB 10X is excited to participate in this strategic funding round, co-led by Pantera Capital and Polychain Capital, along with Samsung Next, Matrix Partners, Nomad Capital, Tangent Ventures and others. Founded in 2023, Sahara AI is developing a decentralized AI platform that offers high performance, provenance, data privacy and security. The network allows both individuals and businesses to deploy proprietary data and build personalized AI models. Additionally, it leverages blockchain technology to enable incentive distribution to data and model contributors, creating a collaborative ecosystem for AI development. SCB 10X is looking forward to working with Sahara AI team for a future of open and inclusive AI. https://lnkd.in/g5jqCm7p #artificialintelligence #generativeai #ai #startups #vc

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noteでの発信として、Y Combinator Winter 2024 Batchの採択企業を紹介していこうと思います。 第1弾は、「Therapeutics」で分類されている、がん治療薬の開発（4社）、生成AIを活用した情報収集ツール（1社）、mRNAの送達技術の開発（1社）、AI創薬プラットフォーム（1社）のスタートアップについてそれぞれまとめました。ぜひnoteをご覧ください。 また、Y Combinator Winter 2024 Batchの採択企業とは別に、生成AIを創薬分野で活用しているスタートアップとして、Hike Venturesのポートフォリオ企業の「Nextnet」もご紹介しています。ご興味のある方はぜひご連絡ください。 Nextnetは科学論文、遺伝子情報、臨床試験結果などの重要なデータを統合する製薬、バイオテクノロジー、学術分野向けのプラットフォームを開発した。自然言語による検索機能を備え、プラットフォームを活用することで、医薬品開発における新しいアイデアの発見や検証を効率よく進めることが期待されます Nextnet https://lnkd.in/gM34ZUxi https://lnkd.in/gEdiQtXR   *Although the articles are in Japanese, please feel free to contact me in English if you are interested in the content. I would like to introduce companies from the Y Combinator Winter 2024 Batch. Part 1 summarizes each of the startups categorized under "Therapeutics": four in cancer drug development, one using generative AI for information gathering, one developing mRNA delivery technology, and one in AI drug discovery. Apart from the selected companies from the Y Combinator Winter 2024 Batch, I'm also featuring Nextnet, a startup in Hike Ventures' portfolio that uses generative AI to discover drugs. If you are interested in "Nextnet", please let me know. Nextnet has developed a platform for the pharmaceutical, biotech, and academic fields that consolidates critical data such as scientific articles, genetic information, and clinical trial results etc. It features a natural language search function, enhancing its utility for discovering and testing new ideas in drug development.

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Thanks to DealStreetAsia for letting us contribute to this interesting topical piece... #DPI is indeed an issue that needs to be addressed but it is also important to find solutions and tools which can provide positive outcomes for all stakeholders, something that is central to Collyer Capital's strategy! #CCPL #CollyerCapital #DPI #Secondaries #Liquidity

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Asia’s investment landscape is changing fast on multiple fronts. Money is moving to new countries. Multiple countries compete for startups with free trade zones. Less capital is available for private companies. Exit values are changing, requiring different portfolio strategies for fund managers. This podcast is a great listen for fund managers, LPs and founders alike. Great to hear about it all from Bhavik Vashi from Carta.

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