Fundraising FoxSDF Capital
Venture debtTokyo · Seed–Late Stage · 13 people tracked
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Investment thesis
SDF Capital addresses financing needs that traditional VC-led equity fundraising and bank lending cannot serve, offering startup debt to help companies avoid further dilution, bridge to the next round, or fund growth-oriented deficit spending. The firm aims to keep contracts simple, stay flexible on collateral and guarantees, make fast credit decisions, and design returns appropriate to each company's stage. It leverages many years of capitalist and consulting experience and a lending track record spanning tens of billions of yen, aspiring to become a respected, trusted financing partner within Japan's startup ecosystem.
Source: firm website, verified Aug 3, 2026.
Team · 13 people
from the firm's websiteA certified public accountant and tax accountant, Vice President, CFO and CSO at Akatsuki. After auditing and advisory work at KPMG AZSA, he supported multiple startups, led IPO preparation at Akatsuki, served as CFO of 3 Minute, and founded Akatsuki Ventures in 2022, also serving as a partner at Dawn Capital. Graduate of Aoyama Gakuin University.
Began his career at UFJ Bank (now MUFG Bank) and Risa Partners, then joined Milestone Turnaround Management in 2008 working on corporate restructuring. He later worked at the Enterprise Turnaround Initiative Corporation and joined Topaz Capital in 2014, where he executed 60 loan deals totaling 25 billion yen. He founded Japan's first independent startup debt fund in 2022. Graduate of Waseda University.
Director and Executive Officer at Money Forward and representative of Money Forward Home, Money Forward Sinca, and the HIRAC Fund. He spent about eight years at Goldman Sachs in Tokyo and San Francisco on M&A, fundraising advisory, and fund investing, then joined Money Forward as CFO in 2014. Graduate of the University of Tokyo.
Representative of PUBLIC GATE. He joined the Osaka Securities Exchange in 1991, became an executive officer in 2003 leading the launch of the Hercules market, and became an executive officer of the Tokyo Stock Exchange in 2013 overseeing listing promotion. Graduate of Kwansei Gakuin University.
Joined the Japan Development Bank (now DBJ) in 1992, then led corporate equity and mezzanine investing in Goldman Sachs's strategic investment division. He served as CEO of Gordon Brothers Group's Japan arm from 2013 and as an MDP at Boston Consulting Group from 2023, joining SDF Capital as chairman in 2026. Graduate of Keio University with a USC MBA.
A lawyer and partner at Nishimura & Asahi since 2016, specializing in cross-border finance and energy deals, particularly renewable energy financing, plus financial institution compliance and foreign companies' entry into Japan. He serves as outside director for several companies. Graduate of Keio University.
A lawyer admitted in Japan and New York and partner at So & Sato Law Offices since 2019. She advises domestic and foreign clients on M&A, investments, and fund formation (PE, VC, CVC), and serves as legal counsel to technology ventures in AI, VR, and robotics. Graduate of Hitotsubashi University.
Spent about seven years in corporate banking at Mizuho Bank, then worked on startup investment and hands-on support at Fukuoka Financial Group and startup lending at Daiwa Blue Financial, joining SDF Capital in February 2025. Graduate of Rikkyo University.
A certified public accountant and tax accountant and director at WARC. After audit and advisory work at EY ShinNihon and financial due diligence at Deloitte Tohmatsu, he joined WARC in 2020 leading back-office improvement, IPO support, and FAS work for many startups. Graduate of Meiji University.
Spent about seven years at Sumitomo Mitsui Banking Corporation's Tokyo and New York offices working on financing and planning for US startups, then joined SDF Capital in August 2022. Graduate of Doshisha University.
Worked in statutory audits at Arata (now PwC Arata) from 2007, then in business turnaround consulting at Yamada Business Consulting and seed-stage investing at Samurai Incubate. He joined SmartHR in 2017, becoming CFO in 2018 before stepping into an audit committee role in 2023. Graduate of Kyoto University.
A certified public accountant and partner at ES Next Audit Corporation. After IPO-preparation audits at EY ShinNihon from 2004 and finance leadership at YCP Solidiance, he supported many ventures' listings and founded IPO-focused ES Next in 2020. Graduate of Keio University.
A lawyer and SME management consultant, partner at Nishimura & Asahi since 2004, with strength in business turnarounds, especially in healthcare. He served as managing director of the Regional Economy Vitalization Corporation of Japan and holds several outside auditor/director roles. Graduate of Keio University.
Frequently asked questions
- What stage does SDF Capital invest at?
- SDF Capital invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What sectors does SDF Capital focus on?
- SDF Capital focuses on Sector Agnostic.
- Where is SDF Capital located?
- SDF Capital is headquartered in Tokyo, JP.
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