Press release

October 2, 2023
JAFCO Group Co., Ltd.

Final Closing of JAFCO SV7 Fund Series at ¥97.8 Billion
JAFCO Group Co., Ltd. (Headquarters: Minato-ku, Tokyo; Keisuke Miyoshi, President & CEO;hereinafter referred to as “JAFCO”) hereby announces the final closing of its flagship SV7 FundSeries, established in June 2022, with total commitments of ¥97.8 billion on September 30, 2023.

This year, JAFCO is celebrating its 50th anniversary. In these 50 years, we have consistentlycontinued to invest, regardless of circumstances, and have remained committed to the creation ofnew businesses. The cumulative capital commitments to the funds we manage in Japan and abroad
have exceeded ¥1 trillion and the number of portfolio IPOs exceeds 1,000. In addition to venture
investment, we have also been focusing on buyout investment since 1998. We have leveraged ournetwork and experiential knowledge cultivated over the years to provide valuable expertise inmanagement support (HR, marketing and sales, and back-office), contributing to the growth of ourportfolio companies.
Since the establishment of the SV3 Series in 2007, JAFCO had been managing venture and buyout
investments under the same funds. However, in response to the diverse needs of our investors, inthe SV7 Series we established a dedicated fund for venture investment (V7) and a dedicated fundfor buyout investment (BO7). Additionally, we established SV7-A and SV7-B which conduct both
venture and buyout investment, and we have continued fundraising for all of these funds.

For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.

Press release

October 2, 2023
JAFCO Group Co., Ltd.

Thanks to the support and endorsement of our investment track record and activities from numerous
financial institutions, business firms, and other entities, V7 raised ¥65.0 billion and BO7 raised¥32.8 billion, resulting in a total of ¥97.8 billion for the SV7 Series (consisting of external
commitments of ¥71.3 billion and JAFCO's commitments of ¥26.5 billion), slightly surpassing theupper target of ¥95.0 billion and increasing from ¥80.0 billion for the SV6 Series.
(Note) Currently, there are a few institutional investors still considering investment. We plan to accept these investmentsby transferring a portion of JAFCO’s interest of ¥26.5 billion. As such, the total size of the SV7 Series will remainunchanged at ¥97.8 billion.

Both V7 and BO7 have begun making investments, and we will continue portfolio building overthe next two to three years. While managing both venture and buyout investments through separate
funds, JAFCO’s entire organization will commit as one team to the growth of its portfolio
companies and support fund operations by leveraging the resources, business development
capabilities, and back-office functions that it has cultivated to date.
With its Purpose of “Fueling perpetual growth; investing in bold visions,” JAFCO will make boldinvestments in challenges that create new value, and continue to commit itself to improving fundperformance and contributing to the sustainable growth of society.

For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.

Press release

October 2, 2023
JAFCO Group Co., Ltd.

■Overview of the SV7 Series Fund
*Only main funds conducting investment are shown.

Official name

JAFCO V7 Investment Limited Partnership

General partner

JAFCO Group Co., Ltd and V7 Partner Limited Liability PartnershipInvestment target

Domestic venture investment

Fund size¥56.0 billion

Fund term

June 24, 2022 to December 31, 2032

Official name

JAFCO BO7 Investment Limited Partnership

General partner

JAFCO Group Co., Ltd.

Investment target

Domestic buyout investment

Fund size¥28.8 billion

Fund term

June 24, 2022 to December 31, 2032

Official name

JAFCO SV7-S Investment Limited Partnership

General partner

JAFCO Group Co., Ltd.

Investment target

Domestic venture and buyout investment
To invest in parallel with V7 and BO7

Fund size¥13.0 billion

Fund term

March 24, 2023 to December 31, 2032

■Flagship funds under management

Est. 2013

JAFCO SV4 Fund Series¥60.0 billion

Est. 2016

JAFCO SV5 Fund Series¥75.0 billion

Est. 2019

JAFCO SV6 Fund Series¥80.0 billion

Est. 2022

JAFCO SV7 Fund Series¥97.8 billion■Comment from President & CEO Keisuke Miyoshi Representing V7 Partners

JAFCO has been creating investment models that align with the times since the days when venture
capital didn’t yet exist in Japan. Since 2010, our basic policy has been highly selective, intensive
investment, where we channel our funds and resources into carefully chosen companies, primarily
conducting seed- and early-stage investment. Over the past decade, the startup scene in Japan has
undergone significant transformations. Startups play a crucial role in addressing complex societalchallenges. With the V7 Fund, we aim to make investments in and actively engage with companies
in the rapidly growing Japanese startup market, including those based in Japan and those aiming
for overseas expansion. As a Partner working alongside determined entrepreneurs, I am committed
For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.

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October 2, 2023
JAFCO Group Co., Ltd.

to giving my all in this endeavor.
■Comment from Ko Minamikurosawa, General Manager of the Structured Investment Division,
Representing BO7 Managing Directors

JAFCO’s buyout investment began in 1998 with the establishment of the Structured Investment
Division. We have invested in a total of 58 companies, with 40 of them achieving exits.
What makes JAFCO’s buyout investment stand out is our unique approach that leverages ourstrengths as a venture capital firm. For example, we utilize our own network to expand sales
channels and make use of startup technologies and solutions to support the growth of buyout
portfolio companies.
Our goal is to facilitate the revitalization of portfolio companies by transcending the corporate
lifecycle of founding, growth, maturity, and decline. Through the functions of private equity
investments, we aim to contribute to breaking the so-called “lost 30 years” of perceived stagnationin Japan.

■Comment from Naoki Sato, Corporate Officer in Charge of Business Development

Our Business Development Division is comprised of 14 specialists dedicated to improving thecorporate value of our portfolio companies. We provide various types of support tailored to thegrowth stage, including customer development (sales and marketing), talent enhancement(recruitment, training, and organizational development), and back-office establishment(administrative structure and IPO support). JAFCO has accumulated overwhelming experience andnumerous cases/insights in supporting portfolio companies. We place the utmost importance on thepracticality gained from on-the-ground experience and the replicability that increases the likelihoodof success. Building an ecosystem around startups is another crucial theme. We aim to circulate
people, money, and things throughout the economy, fostering collaboration with major
corporations for new business creation and initiatives to increase the startup population. Throughthis we will contribute to the overall expansion of the startup market.

For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.

Press release

October 2, 2023
JAFCO Group Co., Ltd.

About JAFCO Group Co., Ltd.
Company name

JAFCO Group Co., Ltd.

President & CEO

Keisuke Miyoshi

Headquarters

24F Toranomon Hills Mori Tower, 1-23-1 Toranomon, Minato-ku, TokyoWebsite

https://www.jafco.co.jp/english/

EstablishmentApril 5, 1973

Capital stock

33,251 million yen

Stock exchange market

Prime Market, Tokyo Stock Exchange

Employees

147 (consolidated) as of end of March 2023

For more information, please contact
pr@jafco.co.jp, JAFCO Group Co., Ltd.