Diagonal

What Diagonal does

Diagonal, Inc. is a Tokyo-based private company (founded circa 2020, 1-10 employees) that operates a Japanese-language content, education, and services platform focused on alternative investments. Its core products are three content modules published at diagonal.jp: "Coverage" (proprietary research on global asset managers such as Blackstone, KKR, Brookfield, Carlyle, Apollo, Ares, and Jane Street, organized by region and asset class), "Learning" (tiered educational content for institutional investors, distribution/sales firms, and HNW individuals, from basics to advanced strategies), and "Blogs" (regular commentary on private credit, private equity, infrastructure, and capital markets). The platform follows a freemium model where basic content is freely accessible and full article access requires paid membership registration.

Name

Diagonal

Legal name

Diagonal, Inc.

Website

https://diagonal.jp

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Diagonal is a Tokyo-based content and services firm that provides Japanese-language research, education, and outsourced distribution/operations support focused on alternative investments for HNW investors, IFAs, securities salespeople, and asset managers.

Ownership category

akta.pro rank

Product category

Alternative Investment Research and Advisory

NAICS

Portfolio Management and Investment Advice (523940), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Investment Advice (6282)

akta.pro primary industry

Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO)

akta.pro secondary industries

Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting) (BPAAAGAJ), Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End) (FSAAAMAK), Fees, Billing & Client Reporting (Statements/Reg Reporting Support) (FSACALAI)

Keywords

• Alternative investments
• Investment research
• Financial education
• Fund operations outsourcing
• Investor reporting

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Membership/Subscription Content: The company operates a freemium model where users can register for free membership to access basic content, while full access to all articles and learning materials requires paid registration. This creates a subscription-based revenue stream from individual investors and financial professionals seeking comprehensive alternative investment education.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Diagonal, Inc. operates the Japanese-language website diagonal.jp, a content and research platform covering alternative investments (private equity, private credit, hedge funds, real assets). It offers three core content pillars — Coverage (proprietary research on global asset managers such as Blackstone, KKR, Brookfield, Carlyle and Apollo), Learning (educational modules for individuals, institutional investors and distribution firms), and Blogs (regular market commentary) — gated behind a freemium membership. In parallel, the firm sells business services to asset managers and distributors: sales delegation/BPO for fund operations (fundraising, IR, periodic reporting, client servicing), cloud-based sales DX support, alternative-investment training for securities salespeople and IFAs, and a cloud-based investor reporting service.

Product overview

Diagonal operates as a content and research platform focused on alternative investments, offering three core products: (1) Coverage — proprietary research on global asset managers and investment strategies organized by region (US, Japan, Europe, Others) and category (Equity, Debt, Real Estate, Infrastructure); (2) Learning — educational content for different audience segments (institutional investors, sales/distribution firms, individual/HNWIs) ranging from foundational to advanced levels; and (3) Blogs — regular commentary by the Diagonal team on market developments. In addition to content, Diagonal provides three service offerings: sales delegation and business process outsourcing for fund operations, sales digital transformation support for asset managers, and alternative investment training programs for securities representatives and IFAs. The company also offers cloud-based investor reporting services.

Differentiator

Problem solved

Functional benefit

Products and services

• Coverage research platform Proprietary research coverage of global alternative-investment asset managers and investment strategies (Equity, Debt, Real Estate, Infrastructure across US, Japan, Europe and other regions), providing in-depth analysis of firms such as Blackstone, KKR, Brookfield, Carlyle, Apollo, Jane Street and Ares, accessed via the /coverage/ section of diagonal.jp.
• Learning educational platform Educational content platform teaching alternative-investment concepts from foundational to advanced levels, segmented for institutional investors, distribution/sales firms and individual/HNWI investors, accessed via the /learning/ section of diagonal.jp.
• Blogs commentary Regular commentary and analysis on alternative-investment topics, market trends and industry developments published by Diagonal's team of writers, organized under the /blogs/ section with categories such as Others (その他), Strategy (戦略) and Manager (運用会社).
• Sales Delegation and Fund Operations BPO (営業代行・業務アウトソーシング) Outsourcing service for fund operations covering fundraising, investor relations, periodic reporting and client servicing, designed to let investment managers focus on investing and value creation by handling non-core client-facing operations.
• Sales DX Support for Asset Managers (運用会社向け営業DX支援) Digital transformation support for sales operations targeting asset-management companies, leveraging cloud-based tools to improve the efficiency of sales workflows for asset managers.
• Alternative-Investment Training for Securities Representatives and IFAs (証券外務員・IFA向けオルタナティブ投資研修) Online and live training programs designed for securities sales representatives and independent financial advisors to learn about alternative-investment products, intended for distribution staff who advise retail clients on alternatives.
• Cloud-based Investor Reporting Service (投資家向け報告業務クラウド化サービス) Cloud-based service that automates and digitizes investor-reporting workflows, available by inquiry for fund managers seeking to modernize periodic client reporting.

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Linnovate PartnersminorStrategic or Co-development Partner · 28 June 2025Diagonal announced a collaboration with Linnovate Partners on June 28, 2025. The partnership appears to be a strategic collaboration to enhance services related to alternative investments.

Recent moves1 record

Expansion highlights4 records

Direct peers

• WealthNavi Inc. Japanese retail investment platform (robo-advisor) that combines automated portfolio management with extensive educational content aimed at HNW/affluent Japanese investors — directly comparable to Diagonal's content-led approach to Japanese retail investor education, though WealthNavi is product-led rather than alts-focused.
• The Information: Subscription-based financial/tech media company that demonstrates the paid-content-led business model Diagonal applies to Japanese alternative investments — directly comparable in GTM motion (high-quality niche reporting behind a paywall), though in a different vertical and geography.

Broad incumbents

• Monex, Inc. Japanese online securities broker that provides investor education content and alternative-investment product access to retail clients. Overlaps with Diagonal's retail-focused investor education and alts distribution, but operates at much larger scale as a full-service broker rather than a content specialist.
• Daiwa Securities Group Inc. Major Japanese securities firm that runs structured training programs for securities salespeople and IFAs on alternative investment products — directly comparable to Diagonal's 'Alternative Investment Training for Securities Representatives and IFAs' offering, though delivered by an in-house incumbent at scale.
• SMBC Nikko Securities Inc. Large Japanese securities affiliate of Sumitomo Mitsui Financial Group, offering alternative investment products to retail and institutional clients alongside training for securities representatives. Comparable to Diagonal across both the IFA/securities-rep training and the asset-manager-facing service offerings.
• Nomura Holdings, Inc. Japan's largest securities group with deep alternative investment research, institutional asset management, and retail distribution. Overlaps with Diagonal's coverage, education, and training services but at global, full-service scale.
• Tokyo Stock Exchange, Inc. (JPX): Operator of Japan's primary stock exchange and a major provider of free retail investor education on Japanese capital markets. Comparable to Diagonal's investor education mission, but at incumbent scale and focused on listed equities rather than alternative investments.

Emerging players

• GLOBIS Corporation: Japanese business and finance education company offering structured courses, content, and corporate training programs — comparable business model to Diagonal's content-led, education-and-training-driven approach aimed at Japanese professionals, though broader than alternatives-specific education.
• Preqin (a BlackRock company): Global alternative investments data, research, and analytics provider serving institutional investors — comparable to Diagonal's Coverage and Learning products in subject matter (alts managers, strategies, performance) but operating at global, enterprise scale with paid data subscriptions.

Others

• Linnovate Partners: Hong Kong-based alternative investment fund administration and services firm that is Diagonal's stated strategic partner (announced June 2025). Comparable as an adjacent service provider supporting Japanese asset managers' fund operations and reporting workflows — a potential BPO competitor and partner simultaneously.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/DiagonalInc
• Facebookfacebook.com/diagonal1002
• Instagraminstagram.com/diagonal1002

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Diagonal