Incubate Fund

Joined Future Venture Capital in 2004, working on venture investment, M&A advisory, and fund formation. Moved to CyberAgent in 2006 for domestic and overseas venture investment. Founded seed-focused VC Selene Venture Partners in 2007, then established Incubate Fund in 2010 as Representative Partner.

Joined Recruit in 1997, leading digital business launches and internet-company venture investments, including the launch of online golf reservation service Medioport (sold to Rakuten in 2002). Moved to McKinsey in 2002, becoming partner in 2007 and senior partner in 2014, where he led APAC marketing & sales, analytics, and consumer/retail groups and served as managing partner of QuantumBlack Japan. Became a representative partner at Incubate Fund in March 2021.

Spent eight and a half years in the investment division at JAFCO before independently founding a venture capital business in 1999, focusing consistently on seed/founding-stage investment and company development. Has held leadership roles at the Japan Venture Capital Association, including chairman.

Murata joined NIF Ventures (now Daiwa Corporate Investment) in 2003, working on internet startup investments and fund formation and management. In 2010 he co-founded Incubate Fund and became a Representative Partner. He has held various roles at the Japan Venture Capital Association since 2015, becoming a director in 2023, and ranked first on Forbes Japan's Midas List of Japanese venture investors in 2017.

Eito Ishizu is from Kobe, Hyogo Prefecture. He conducted research on kiteship technology at the School of Environment and Society, Institute of Science Tokyo (graduate program), and studied abroad at Politecnico di Milano; during his undergraduate years at Yokohama National University he served as captain of the windsurfing club. He joined Incubate Fund in 2025 as a business development analyst focused on sourcing new investment targets.

Futaba Ishikawa graduated from the Faculty of Science at the University of Melbourne in Australia. In 2024, she joined xCARE, Inc. during its pre-Series A stage, where she was mainly responsible for sales to domestic and international pharmaceutical and medical device companies. She joined Incubate Fund in 2026 as a business development analyst focused on sourcing new investment opportunities.

Haru Iino conducted research in a doctoral program at Keio University's Graduate School of Pharmaceutical Sciences, focusing on health technology assessment and medication adherence evaluation using wearable device data. He is a licensed pharmacist. He joined Incubate Fund in 2025 as a business development analyst working on sourcing new investment opportunities.

Hiroto Kataoka studied behavioral design in the Faculty of Economics at Keio University, where he served as a rookie manager overseeing the second-string hardball baseball team and experienced winning a national tournament. He joined Incubate Fund in 2023 and works as a business development analyst focused on sourcing new investment opportunities. He is originally from Hakone, Kanagawa Prefecture.

Keita Kono is from Oita City, Oita Prefecture, and studied health behavioral economics at Keio University's Faculty of Environment and Information Studies, where he also competed nationally in the 1500m as a member of the track and field club. He joined Incubate Fund in 2024, where he works as a business development analyst sourcing new investment opportunities.

Koyo Tominaga graduated from the University of Tokyo with a specialization in veterinary medicine and conducted research on animal pain assessment using machine learning. He is a licensed veterinarian (DVM). At Incubate Fund, he works on sourcing and value-up activities for portfolio companies.

Laura Michiko Suzuki joined Deloitte Tohmatsu Consulting in 2017, where she worked in the public sector practice on projects involving renewable energy and hydrogen business models as well as decarbonization strategy support. In 2023 she joined Incubate Fund as an associate, focusing on sourcing new investments and supporting portfolio company value creation. She studied at the University of Michigan's College of Literature, Science, and the Arts.

Manoka Muta is from Osaka, Japan, and studied accounting at the Faculty of Business Administration at Kobe University, where she served as manager of the university's entrepreneurship club from its founding year. She joined Incubate Fund in 2024 as a business development analyst focused on sourcing new investment targets.

Mari Nakamura studied at Waseda University's School of Commerce, where her research addressed startup fundraising activities. From her third year, she concurrently joined the independent VC Yazawa Ventures, working on fund operations including running an accelerator program and being seconded to several portfolio companies. She joined Incubate Fund in 2023 as an associate, focusing on sourcing new investments and supporting value creation at portfolio companies.

Masaki Izumi studied law at the University of Tokyo, Faculty of Law. He interned at public affairs firm Makaira Co. and later worked as a crypto research intern at Monex Securities, and has also performed as a comedian (manzai) with the K-PRO agency. He joined Incubate Fund in 2025 as a business development analyst focused on sourcing new investment opportunities.

Pham Thao is originally from Vietnam. After graduating from Osaka University's School of Human Sciences, she completed a joint-degree program with Kyoto University, the University of Glasgow (UK), and the University of Barcelona (Spain), where her master's research focused on the entrepreneurial ecosystem for foreign nationals. She joined Incubate Fund in 2025 as a business development analyst working on sourcing new investment opportunities.

Ryoto Iwasaki studied at the University of Tokyo's Department of Systems Innovation in the Faculty of Engineering, where he worked on controlling radiation equipment using the LabVIEW system development software. He joined Incubate Fund in 2021 as an associate, focusing on sourcing new investments and supporting value creation at portfolio companies.

Shotaro Kikkawa studied international political economy in the School of Political Science and Economics at Waseda University, where he was a member of the yacht club and won three consecutive All-Japan Intercollegiate championships as a competitor. He joined Incubate Fund in 2026 as a business development analyst, working on sourcing new investment targets.

Shun Hashimoto graduated from Keio University's Faculty of Economics, where he played outfield for the varsity baseball team and won a national championship in his fourth year. He joined Incubate Fund in 2024, working as a business development analyst focused on sourcing new investment opportunities.

Soichiro Iwamura conducted empirical research on startup ecosystems in the Mishiko Ashizawa laboratory at Keio University's Graduate School of Business Administration, where he also organized on-campus business contests and startup conferences. He joined Incubate Fund in 2025 as a business development analyst focused on sourcing new investment opportunities.

Soma Kanemitsu studied pharmaceutical sciences at Hokkaido University, where he conducted research on immune signal regulation and served as captain of the ice hockey division of the athletic club. He joined Incubate Fund in 2026 as a business development analyst focused on sourcing new investment opportunities.

Born in 1999 in Kagawa, Japan, Fujita holds a master's degree in architecture from Kyoto University's Graduate School of Engineering, where he researched earthquakes with an interest in disaster prevention. A competitive sprinter for 12 years, he joined Incubate Fund in 2024 as a business development analyst focused on sourcing new investments.

Yuiga Maruyama studied Western history, focusing on early modern English history, at the Faculty of Letters at the University of Tokyo. He joined Incubate Fund in 2022 as an associate, where he works on sourcing new investments and supporting portfolio companies with value-add initiatives.

Yuito Takenouchi began his career in mobile phone sales, serving as a weekend sales support director at a flagship store and later leading external sales events, while also interning at SAP Concur as an MDR (inside sales) representative from March 2022. He joined Incubate Fund in 2023 as a business development analyst focused on sourcing new investment opportunities. He holds a degree from the Department of Human Informatics and Cognitive Sciences at Waseda University's School of Human Sciences.

Yuta Shimohara studied corporate finance, with a focus on cross-border M&A, at Hitotsubashi University's business faculty, and spent his third and fourth years studying abroad at the University of Hawaii's Shidler College of Business. He was vice-captain of the university's kendo club. He joined Incubate Fund in 2021 as an associate, where he sources new investments and supports value-creation work at portfolio companies.

Zen Mizoguchi is from Hitoyoshi, Kumamoto Prefecture. In 2016 he started a college-preparation support venture for high school students, which he incorporated in 2017, working on scholarship programs and program planning. He joined Incubate Fund in 2021 as an associate, handling sourcing of new investments and value-up work with portfolio companies. He graduated from the Faculty of Law at Keio University.

Joined Nomura Research Institute in 2019, working in sustainability consulting on carbon neutrality and circular economy projects, including new business planning and operational reform. Joined Incubate Fund in 2022 as an associate, sourcing new investments and supporting portfolio company value-up. Graduated from Keio University, Faculty of Law.

Joined Mizuho Financial Group in 2019, working as a relationship manager for large chemical-sector clients at Mizuho Bank, then handled TMT-sector M&A advisory in Mizuho Securities' investment banking division from 2020. Joined Incubate Fund in 2022 as an associate focused on sourcing new investments and supporting portfolio company value creation. Holds a graduate degree in economics from Hitotsubashi University.

Joined Tokio Marine & Nichido Fire Insurance in 2018 supporting mid-sized company management, then joined Accenture in 2020 working in Strategy & Consulting on strategy, financial analysis, DX and PMO, including Accenture Ventures accelerator and startup collaboration work. Joined Incubate Fund in 2022 as an associate sourcing new investments and supporting portfolio company value-up.

Joined Deloitte Tohmatsu Financial Advisory in 2019, working on M&A advisory and equity valuation primarily in the financial sector. Joined Incubate Fund in 2022 as an associate, sourcing new investments and supporting portfolio company value creation. Graduated from Kyoto University's Faculty of Economics.