Kusabi

What Kusabi does

Kusabi is an independent Japanese venture capital firm founded in March 2021 by three Representative Partners — Kenko Nagai (ex-Nissay Capital, Daiwa SMBC, Toyota Financial Services), Junya Yoshida (ex-JAFCO, 13 years), and Yuki Watanabe (ex-Globis Capital Partners, Daiwa SMBC Capital, SMBC) — and operated through Wedge Corporation. The firm manages KUSABI 1号 Fund (KUSABI1号投資事業有限責任組合), a 106 billion yen closed-end fund targeting seed and early-stage startups in Japan across all industries, with lead investments ranging from 20 million to 500 million yen per company and decision timelines of one week to two months. The fund counts more than 40 portfolio companies, including notable names such as TRiCERA (global art marketplace), SalesNow (B2B sales database), RATEL (esports), AGE technologies (household domain), and Cosmetiphi-related investments.

Kusabi's core operating model combines (a) direct venture investment through Fund 1 with (b) the KUSABI α accelerator program, an approximately 18-month cohort-based acceleration offering 20 million yen Series-S investment per selected startup at a 400 million yen pre-money valuation, supplemented by weekly partner-led mentoring, monthly practical seminars, shared office access via the FinGATE KAYABA facility, and entry into an alumni portfolio community. The firm derives revenue from standard VC economics — annual management fees on the 106 billion yen AUM plus carried interest on portfolio exits — with one documented M&A exit to date (WAND's sale to TSE Prime-listed Fan Communications Group in May 2024).

Kusabi is headquartered in Nihombashi-Kayabacho, Chuo-ku, Tokyo, with a staff of approximately seven including the three founding partners, a Corporate Department Director and Associate, and Investment Department staff. LP investors in Fund 1 include government-backed institutions (INCJ, SMRJ), major Japanese commercial banks (Sumitomo Mitsui Banking Corporation, Hokuhoku Bank), securities firms (SMBC Nikko Securities, Matsui Securities), CVC arms (SMBC Venture Capital, Nissay Capital), corporate investors (Heiwa Real Estate, Uruur), and an individual LP. In August 2024, Fund 1 was recognized as the Preqin Awards 2024 winner for Largest First-time VC Fund in APAC.

Name

Kusabi

Legal name

Wedge株式会社

Website

https://kusabi.fund

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Kusabi is a Tokyo-based independent venture capital firm founded in 2021 by three ex-top-tier-Japanese-VC partners. It manages a 106 billion yen seed and early-stage fund and operates the KUSABI α accelerator program for Japanese startups, investing 20 million to 500 million yen per company.

Ownership category

akta.pro rank

Headquarters

HQ city

Kayabacho

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees and Carried Interest: KUSABI generates returns through management fees on the 106 billion yen fund under management and carried interest (performance fees) from successful portfolio exits including IPOs and M&A transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

KUSABI is an independent venture capital firm that makes seed and early-stage lead investments in Japanese startups (20 million to 500 million yen per company) out of its 10.6 billion yen Fund 1. It also operates KUSABI α, an approximately 18-month accelerator program that provides a 20 million yen Series-S investment, weekly partner-led mentoring, monthly seminars, shared office access, and community participation to selected seed-stage founders. Revenue is generated through fund management fees and carried interest from successful exits.

Product overview

Kusabi operates as an independent venture capital firm offering two core products: (1) KUSABI 1号投資事業有限責任組合, a 106 billion yen venture capital fund targeting seed and early-stage companies with investments of 20 million to 500 million yen per portfolio company, and (2) KUSABI α, an approximately 18-month acceleration program providing 20 million yen in Series-S funding, weekly mentoring, monthly seminars, shared office space, and access to the KUSABI community. The firm also recognizes exceptional portfolio companies through the annual KUSABI Award program.

Differentiator

Problem solved

Functional benefit

Brands

• KUSABI α: An approximately 18-month acceleration program for seed-stage startups, providing 20 million yen (Series-S) investment, weekly mentoring from KUSABI capitalists, monthly practical seminars, shared office access, and community participation.

Products and services

• KUSABI α (Accelerator Program) An approximately 18-month acceleration program for seed-stage Japanese startups that provides a 20 million yen Series-S investment at a 400 million yen pre-money valuation (stock option pool included), weekly mentoring from KUSABI partner-investors, monthly practical seminars on business development, marketing and finance, shared accelerator office access, and participation in the KUSABI founder community.
• KUSABI 1号投資事業有限責任組合 (KUSABI Fund 1) Seed and early-stage venture capital fund with 10.6 billion yen in assets under management, making lead investments of 20 million to 500 million yen per company across all industries in Japan.

Quantifiable outcome

• KUSABI Award winners achieved significant revenue growth, fundraising, and user/member expansion within the support period
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• FinGATE CLUB (平和不動産运营)minorStrategic or Co-development PartnerKUSABI provides a mentor desk at the FinGATE CLUB, a membership-only community lounge operated by Heiwa Real Estate in the FinGATE KAYABA building. KUSABI staff offer business consultation services to startups in the ecosystem.
• YTGATEminorGTM or Marketing PartnerYTGATE published an interview with KUSABI's representative partner Kenko Nagai on their news platform, discussing YTGATE's growth potential from an investor perspective. Mutual cross-promotion of portfolio companies and media content.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• ANRI: Tokyo-based seed and early-stage VC that runs multiple founder-support programs and cohort-style accelerators. Highly comparable to KUSABI in stage focus, check size and emphasis on hands-on founder mentoring.
• Globis Capital Partners: Independent Japanese VC founded by a Globis spinout, active in seed to growth-stage. Directly comparable to KUSABI's independent positioning, with co-founder Yuki Watanabe having previously been a Senior Capitalist there.
• East Ventures: Early-stage VC with deep Japan and Southeast Asia presence, known for high-volume seed investing. Comparable to KUSABI in stage focus and geographic emphasis on Japan, with a similar community-led ecosystem approach.
• Incubate Fund: Independent Japanese seed-stage VC operating an explicit cohort-based accelerator model. Highly comparable to KUSABI in early-stage orientation, accelerator integration and emphasis on founder community.
• World Innovation Lab (WiL): Independent VC investing in Japan and global markets across seed to growth stages. Comparable to KUSABI in being a Japan-anchored, independent fund with strategic corporate LP backing and emphasis on cross-border value creation.

Broad incumbents

• JAFCO Group: Japan's largest publicly listed VC, operating multiple vintage funds across stages. A broad incumbent comparable to KUSABI in early-stage activity, with Junya Yoshida having spent 13 years there prior to founding KUSABI.
• Nissay Capital: Japanese VC arm of Nippon Life Insurance with broad sector and stage coverage. Comparable to KUSABI as a large institutional VC; Kenko Nagai previously led investments there, including Series A rounds in Sansan and TokIUM.
• SMBC Venture Capital: Corporate venture capital arm of Sumitomo Mitsui Banking Corporation. Comparable to KUSABI as a Japanese institutional VC and as an LP/strategic partner in the ecosystem; offers a different model combining banking distribution with venture investing.
• Daiwa Corporate Investment: Venture and growth investment arm of Daiwa Securities Group. Comparable to KUSABI in operating from a Japanese institutional base and writing lead checks in earlier stages of company development.

Emerging players

• Techstars: Global accelerator operator running structured cohort programs similar in design to KUSABI α. Comparable as a competitor/benchmark for the accelerator business line, though operating at much larger scale and with a US/global footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/kusabifund
• Facebookfacebook.com/kusabi.fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments14 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kusabi