Press release

October 3, 2023
JAFCO Group Co., Ltd.

JAFCO Portfolio Company AVILEN, Inc. Completes its IPO
on the TSE Growth Market
JAFCO Group Co., Ltd. (Headquarters: Minato-ku, Tokyo; Keisuke Miyoshi, President & CEO)hereby announces that AVILEN, Inc. (Headquarters: Chuo-ku, Tokyo; Representative Director:
Kotaro Takahashi; hereinafter referred to as “AVILEN”), a portfolio company of funds it operatesand manages (JAFCO SV6 Investment Limited Partnership and JAFCO SV6-S Investment LimitedPartnership; hereinafter collectively referred to as “JAFCO”), completed its IPO on the GrowthMarket of the Tokyo Stock Exchange on September 27, 2023.

Since its founding in 2018, AVILEN has been driven by its vision of “cutting-edge technology forall,” providing AI software utilizing AVILEN AI, its proprietary technology core module, andbuild-up packages for AI-driven organizational and human resource development to more than 530
primarily listed companies.
JAFCO invested in AVILEN in December 2020 to further the company’s business expansion. Since
acquiring 85% of outstanding shares, JAFCO, together with AVILEN’s management team led byRepresentative Director Kotaro Takahashi, its employees, and its seven strategic equity partners,
among others, have been promoting efforts to maximize the societal value created and provided by
AVILEN.
Having invested in AVILEN approximately only two years after its establishment, JAFCO has
provided hands-on management support with the commitment to build the business from theground up, based on its Mission, “Commit to new business creation and jointly shape the future.”With the talent, effort, and teamwork of each and every member, AVILEN achieved rapid growthreflected by sales CAGR (compound annual growth rate) of 83.68% and operating income CAGR
of 67.66% in the two years since investment*, culminating in its successful IPO 62 months afterits establishment and 33 months after JAFCO’s investment.
For more information, please contact pr@jafco.co.jp,
Attn: Yusuke Yanagidate, Principal, JAFCO Group Co., Ltd.

Press release

October 3, 2023
JAFCO Group Co., Ltd.

*As the fiscal year ended December 2020 was five months long due to the change in the fiscal year-end, CAGR wascalculated based on the 12-month period ended December 31, 2020.

JAFCO will continue to contribute to the realization of a sustainable society by investing in boldvisions that create new value.
■AVILEN’s IPO press release
https://corp.avilen.co.jp/news/074179/ (Japanese only)■AVILEN’s IR website
https://corp.avilen.co.jp/ir/ (Japanese only)
About JAFCO Group Co., Ltd.
Company name

JAFCO Group Co., Ltd.

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

Headquarters

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

Stock exchange market

Prime Market, Tokyo Stock Exchange
JAFCO Group Co., Ltd., driven by its Purpose, “Fueling perpetualgrowth; investing in bold visions,” is a venture capital firm with theBusiness description

largest cumulative portfolio in Japan. With more than 20 years ofexperience in buyout investments and more than 30 years in overseas
venture investments, it has supported over 1,000 IPOs to date.

For more information, please contact pr@jafco.co.jp,
Attn: Yusuke Yanagidate, Principal, JAFCO Group Co., Ltd.