In response to the spread of the new coronavirus, more than 20 venture capital firms have launched online funding consultations for startup companies.

(Location: Minato-ku, Tokyo; President & CEO: Naoya Kanesaka; hereinafter "the Company"), a group company of MoneyForward, Inc. (Headquarters: Minato-ku, Tokyo; President & CEO: Yosuke Tsuji), announced that it will start matching venture (Location: Minato-ku, Tokyo; President: Naoya Kanesaka; hereinafter "the Company") announced that it will begin matching venture capitalists and startup companies for online interviews. More than 20 venture capital firms will participate in the program, providing startup companies with consultations regarding funding.

Background of Initiatives

There are growing fears that the spread of the new coronavirus infection will lead to an economic downturn and worsening corporate performance. With no prospects for the containment of the disease, the Ministry of Economy, Trade and Industry (METI) announced on February 28, 2020, a cash flow support program for small and medium-sized enterprises (SMEs) in 47 prefectures in Japan. *
Money Forward SYNCA is also receiving an increasing number of consultations from startup companies that "want to consider strategic fundraising to prepare for the future. At the same time, we have received many comments from investors who have secured sufficient funds for investment and "want to support startups because of this situation," and we have received support from more than 20 venture capital firms.

MoneyForward SYNCA provides financial advisory services to growing companies under its mission to "Synchronize with management's aspirations and evolve together with them. The company will continue to implement speedy and flexible measures to help startups raise funds strategically and further revitalize the ecosystem in the startup industry.

*Ministry of Economy, Trade and Industry, "Related to New Coronavirus Infections.https://www.meti.go.jp/covid-19/

List of participating venture capitalists(as of March 4, 2020) *Alphabetical order, titles omitted

Gyosho Capital Co.http://www.akitocapital.com/)
Nobuhiro Ariyasu (https://twitter.com/ariyasu) *Angel investors
Delight Ventures, Inc.https://delight-ventures.com/)
DNX Ventures (https://www.dnx.vc/)
E-Cloud Corporation (https://corp.ecrowd.co.jp/)
Future Venture Capital, Inc.https://www.fvc.co.jp/)
Genesia Ventures, Inc.https://www.genesiaventures.com/)
Global Brain, Inc.https://globalbrains.com/)
Global Catalyst Partners Japanhttps://gcp-j.com/)
Globe Advisors, Inc.http://globe-advisors.com/)
Globis Capital Partners, Inc.https://www.globiscapital.co.jp/ja/)
Hike Ventures, LLC.https://hikevc.com/)
Infinity Ventures, Inc.https://www.infinityventures.com/)
Iyoginko Capital Co.http://www.iyo-capital.co.jp/)
Jafco, Inc.http://www.jafco.co.jp/)
KVP Inc.http://www.kvp.co.jp/)
Fund by Renovell, Inc. https://renoveru.co.jp/)
Nissay Capital Corporation (https://www.nissay-cap.co.jp/)
Plug and Play Japan Inc.http://japan.plugandplaytechcenter.com/)
Spiral Capitalhttps://spiral-cap.com/)
STRIVE (https://strive.vc/)
WiL (https://wilab.com/)
XTech Ventures, Inc.https://xtech-ventures.co.jp/)

Comments by venture capitalists

Shinichi Takamiya, Managing Partner, Globis Capital Partners

In preventing the spread of the new coronavirus, I believe it is important that we, as companies and individuals, respond to the calls of public agencies and experts, and make every effort to do what each of us can do, such as remote work, staggered work hours, creating an environment that facilitates rest, and encouraging hand washing and ventilation.
On the other hand, as for the short-term economic impact of the coronavirus, we venture capitalists (VCs) believe that the only way to protect our positions is to continue to invest vigorously in startups, which is our core business.

Compared to the time of the Lehman Shock and the Great East Japan Earthquake, when the number of VCs actively continuing to support investment was limited, the Japanese VC industry has now broadened its base and the total amount of funds available has increased significantly. In addition, from a medium- to long-term perspective, the spread of the coronavirus has not significantly damaged the essence of the business or its business model. Furthermore, it could be an opportunity for new ways of working and providing services that utilize technology, such as remote work, to become more widespread.
We at VC hope to protect and nurture the seeds of new industries in Japan by continuing to actively support startups.

Tatsuo Tsutsumi, Managing Partner, STRIVE

As for the impact of the Corona Shock on startup business and fundraising, I believe that there will be a significant temporary impact on business. However, unlike the Lehman Shock and the collapse of the bubble economy in the past, there is no credit crunch, but rather a temporary stagnation in consumer activity and the ongoing contraction of the real economy due to a decrease in special demand from inbound travel. However, some industries will take time to recover.

In terms of fundraising, I don't think there will actually be that big of an impact, as the absolute volume of risk money, mainly from VCs, has continued to increase in recent years, and the circulation of funds has not stopped. However, as in the past, there may be a slight adjustment in procurement of funds at higher valuations than they actually are.

Our fund (STRIVE) is always looking to create new industries with great entrepreneurs, regardless of the economic climate, and we would like to support the startup ecosystem with a financial platform company like MoneyForward.

Flow of Online Fundraising Consultation

(1) Recruitment of start-up companies(Applications open today)
Fill out the following form with the required information and select the venture capital firm you wish to interview.
https://forms.gle/PxXJDVAvdr6dQzvC8

(2) Online interview matching
The venture capitalist will receive a "list of companies wishing to meet with you" from MoneyForward SYNCA. If both parties are matched, an online interview will be conducted.

writing (e.g. as a profession)

PORT Editorial Office　
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