This is a past survey.
The latest JAPAN CVC SURVEY 2023 can be found below.
‍JAPAN CVC SURVEY 2023

-----------------------------------------

The CVC community "FIRST CVC" has released one of the largest surveys on corporate and CVC startup investment activities, the "Japan CVC Survey 2022." The survey captured the investment trends of corporate investors and CVCs in Japan, gathering responses from 110 companies across various industries and sizes, with a total investment budget exceeding 410 billion yen. It offers an in-depth look at the current state of startup investments made by Japanese CVCs and corporations. The survey is valuable for companies already operating or considering starting a CVC, startups seeking investment, VCs considering collaboration with CVCs, government agencies, and local authorities involved in startup promotion, providing an overall view of the startup ecosystem.

■Survey Overview

Survey period: August - October 2022
Response period: January 2018 - June 2022
Survey method: Internet questionnaire sent to responding companies

Survey target:

Companies that invest in or are considering investing in startups, as well as CVC funds. This also includes VC firms primarily managing their own group funds, such as financial VCs.

Purpose of the survey:

To provide information on the realities and latest trends in corporate and CVC investment activities in startups, offering options for fundraising and alliances. The survey aims to clarify the role of CVC activities within the Japanese startup ecosystem and contribute to the promotion of the Japanese startup industry. As an industry organization gathering CVC participants, we also aim to provide benchmarks and guidelines for future investment activities to our member companies.

‍

■Report Content

‍

1. Survey Overview
Number of responding companies, total investment budget, revenue distribution by company, industry distribution, distribution of operating objectives, types of CVCs

2. CVC's Current Position from the Startup Perspective
Strategic synergy positioning, lead-investment capabilities, investment stages, investment ratio guidelines, fund budget by company size, total number of investments, investment evaluation period, team composition, support provided to portfolio companies, follow-on budgets, reporting lines, M&A intentions and experiences

3. CVC's Current Position from the Corporate Perspective
Evaluation of CVC activities, forecast for future investments, leading CVCs and their revenue size, relationship between CVC objectives and activity evaluations, triggers for CVC activities, organizational structure, team composition, investment themes, sourcing volume and channels, acceleration programs, LP investment rates, carried interest rates

4. What Makes a Successful CVC Different
Reasons for establishment, differences in operating objectives, synergy expectations, support provided post-investment, board director appointments, internal communications

5. Future Challenges for Japanese CVCs
Changes in the composition of operating objectives, setting financial goals, gender distribution in CVC organizations, internal background of CVC leaders, reasons for LP investments, challenges faced by CVCs, feedback from the field

‍

■Download Survey Report

If you wish to download the survey report, please fill out the form below. A download link will be sent to your email. If the form doesn't display or you encounter issues receiving the email, please contact us through the inquiry form.

‍