/Investor DB

JIC Capital

Government fund

Tokyo · Growth–Late Stage · 13 people tracked

Also known as JIC Capital, Ltd.

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Investment thesis

JIC Capital is a public/private equity fund created under the JIC Group to deploy long-term, large-scale risk capital that the private sector alone would not provide. It targets two main areas: growth investments in Japanese companies with advanced technologies and business models in emerging sectors, and investments in maturing sectors to drive large-scale business portfolio transformation and industry consolidation. The firm emphasizes hands-on value enhancement of portfolio companies, strict investment discipline, and ESG considerations, leveraging the investment track record and professionals inherited from INCJ. It also aims to establish and manage next-generation social infrastructure and promote digital transformation.

Source: firm website, verified Nov 1, 2026.

Stage
Growth–Late Stage
HQ
Tokyo, JP
Leads rounds
Leads
Instruments
Equity
Founded
2020
Tracked investments
3

Team · 13 people

from the firm's website
Shogo Ikeuchi· President and CEO

President and CEO of JIC Capital who previously spent 32 years at Recruit Holdings in executive roles focused on overseas business development, digital transformation, corporate planning and HR. He holds an M.S. from Kyoto University and serves as an outside director of JSR Corporation.

Fumikazu Ito· Managing Directorin

Managing Director with over 20 years in alternative investments, including 10 years at Daiwa Securities Group's investment division overseeing risk management, PE and debt investments and M&A advisory. He holds an MBA from Keio Business School.

Keisuke Ohnishi· Managing Director

Managing Director with over 15 years of experience in corporate/business strategy, M&A/PMI and turnaround, primarily in manufacturing. Previously at Toyota, Boston Consulting Group, DBJ Group and PwC Strategy&; holds engineering degrees from the University of Tokyo.

Osamu Itabashi· Managing Directorin

Managing Director with 17 years in private equity focused on mobility, semiconductors/electronics, IT, telecom infrastructure and transportation. Previously at INCJ, a global PE fund, and Boston Consulting Group; holds a law degree from Hitotsubashi University.

Yasutaka Nukina· Managing Director

Managing Director with 18 years in private equity focused on materials, manufacturing/engineering and decarbonization/circular economy. A lawyer and certified management consultant, he previously worked at INCJ, Morgan Stanley and Advantage Partners; holds degrees from Sophia University and Columbia Law School.

Hidenori Kambe· Director

Director with over 20 years in private equity, previously a director of the investment team at a leading Japanese PE firm focused on carve-out deals. Holds engineering degrees from Waseda University.

Hiroshi Matsuyuki· Director

Director focused on mobility, semiconductors/electronics, materials/chemicals, energy and social infrastructure. Previously an investment banker at UBS and Nomura Securities; holds a degree from Waseda University and an MBA from MIT Sloan.

Kohei Nokami· Director

Director with 13 years in private equity focused on mobility, manufacturing/engineering, semiconductors/electronics, materials/chemicals and social infrastructure. Previously at INCJ, ETIC, ORIX and Sumitomo Mitsui Banking; holds a degree from Ritsumeikan University.

Seiji Ishioka· Director

Director with 10 years in private equity focused on metals, basic materials, mobility, manufacturing/engineering, materials/chemicals and social infrastructure. Previously at INCJ and SMBC Nikko Securities; holds degrees from Waseda University.

Shigetomo Ogawa· Director

Director with 9 years in private equity focused on materials/chemicals, manufacturing/engineering, semiconductors/electronics and transportation. A CPA, he previously worked at INCJ and Deloitte Tohmatsu; holds a commerce degree from Waseda University.

Tatsuo Kogure· Director

Director with 12 years in private equity focused on semiconductors/electronics, materials/chemicals, mobility, consumer goods and social infrastructure. Previously an investment banker at Nikko Citigroup and SMBC Nikko Securities; holds a degree from Waseda University.

Yo Inomata· Director

Director with 10 years in private equity focused on electronics, semiconductors and TMT. Previously at INCJ and Mizuho Financial Group; holds a law degree from Keio University and an MBA from the University of Michigan Ross School of Business.

Yusuke Ichihara· Directorin

Director with 7 years in private equity focused on mobility, healthcare, IT, manufacturing/engineering and social infrastructure. Previously at INCJ and Morgan Stanley's investment banking division; holds an economics degree from Keio University.

Investments · 3 tracked

founders shown can be your intro path

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

JSR CorporationSHINKO ELECTRIC INDUSTRIES CO., LTD.Topcon Corporation

Frequently asked questions

What stage does JIC Capital invest at?
JIC Capital invests at the Growth, Late Stage stages.
What sectors does JIC Capital focus on?
JIC Capital focuses on Advanced Manufacturing, Circular Economy, Deep Tech, Energy, Healthtech, Mobility & Transportation, New Materials, Semiconductors.
Where is JIC Capital located?
JIC Capital is headquartered in Tokyo, JP.
Does JIC Capital lead rounds?
Yes, JIC Capital leads investment rounds.

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