Phase 2: Act and Assess Investment Guidelines: Emphasizing Diversity and Innovation
The Hataraku Fund managers emphasize two key words when making investment decisions: “diverse” and “new.” Fumi Sugeno, SIIF’s Global Lead, explains that the goal is to partner with enterprises that support diverse individuals and propose innovative solutions in the areas of work and services for people across all life stages, from childhood to late adulthood. “What we are looking for is the additionality of these investments. What’s the new part, or new type of work, or new type of life that they’re creating? And then what’s the diversity—how do they promote diversity?” Sugeno says. 15 The goal is to influence the rigid, stereotypical ways of working over the long term. Antway Inc.: Challenging Gender Norms Through Meal Delivery An example of these “diverse” and “new” companies is Antway Inc., which provides a meal kit delivery service. Sugeno describes one “aha” moment that came with the fund’s investment. She recalls, “At first, I thought it was just a meal delivery company, but the entrepreneur’s intention was distinct. Given the prominent role his mother played in financially supporting his family, he wanted to challenge biases about housework and gender roles. He sought to shift the notion that outsourcing meals was lazy and to promote an equal division of labor between men and women. I realized that changing mindsets, especially on gender roles, requires first shifting behaviors; just telling people to change doesn’t work. By providing convenient and tasty meal delivery services, he aimed to gradually influence people’s perspectives.” 16 CureApp: Impact IPO Strategy Hataraku Fund’s primary exit strategy focuses on supporting investee companies in pursuing an “Impact IPO”—a process where companies go public while continuing to integrate and disclose their impact strategies. 17 This includes guiding companies through the pre- and post-IPO phases, ensuring they engage effectively with investors and maintain their commitment to purpose-driven business models. Unlike the US and Europe, where M&A is the most common exit strategy, IPOs dominate in Japan, with around 80 percent of the country’s “next unicorn” ventures reportedly aiming for IPOs, according to a 2023 Nikkei survey. 18
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Ten Years in the Making
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