Hello. We are the editorial team of & JAFCO POST. It's April and the start of a new year, and we are pleased to announce JAFCO's new Values, which we have been deliberating for about a year.
Through this update of our Values, we hope you can learn what JAFCO aims to achieve in the future.
Ratio of mid-career hires has doubled in 6 years; Further strengthening JAFCO's organizational capabilities
JAFCO has been taking on the challenge of investment since the time when venture capital was still relatively unknown in Japan. In 2023, JAFCO celebrated its 50th anniversary since establishment. In February of the same year, it formulated and announced its new Purpose, "fueling perpetual growth; investing in bold visions." In addition, while JAFCO previously had a set of "values," new behavioral guidelines for all employees to cherish were verbalized in line with the formulation of the Purpose to strengthen JAFCO as an organization.
In recent years, JAFCO has been actively recruiting not only new graduates but also experienced professionals. The ratio of mid-career hires is now over 40% and, as of the end of March 2024, the number of employees in Japan has reached 126. Compared to six years ago, the ratio of mid-career hires has nearly doubled!
As employees with diverse backgrounds increase, we hope to become a strong organization with these new Values as a common understanding.
(X-axis: As of end of March 31 of each year)
Introducing our four new Values
Here we will introduce our four new Values that we created together as a company.
Own it and see it through
Private equity investment for us represents a collaborative effort involving our portfolio companies, limited partners, and shareholders. While shouldering this responsibility, we believe that engaging with entrepreneurs and business owners who have dedicated their lives to creating and nurturing businesses requires that we engage with the utmost resolution and determination.
We will be proactive in all we do, driven by our personal resolve, taking responsibility in every challenge and difficulty, and persevering until the end without giving up.
Move faster, dive deeper, reach higher
In order to consistently achieve excellence in this rapidly changing world, it's important that we strive for continuous growth and avoid imposing limitations on ourselves.
By maintaining a forward-thinking mindset, discerning the essence of situations, and carefully evaluating all available options, we will strive to reach new heights and improve our capabilities.
Draw on differences to ignite creativity
In order to create greater or entirely new value, it's essential that we bring together the various strengths both within and outside of JAFCO.
By valuing the unique experiences, perspectives, and wisdom of our members and leveraging these differences to their fullest extent, we will build a robust organization ready to achieve the next success together.
Be pioneers, stand for integrity
We have weathered the storms of the world time and again, even before venture capital gained prominence in Japan, forging our own unique path with a pioneering spirit.
Upholding this frontier drive, we will fearlessly and with unwavering integrity, continue to embrace new challenges in developing new markets.
More than 130 hours spent and 530 proposals made to determine our new Values
We divided into multiple teams and conducted workshops, involving all employees. Reflecting on the characteristics of JAFCO so far, we thought about the kinds of values and behaviors we want to cherish anew.
After that, the Values Formulation Project was launched, and members from each department brainstormed and deliberated on expressions. A total of 62 meetings were held, lasting over 130 hours, and approximately 530 expressions were generated!
(Internal materials)
Fostering the Values: A relay where all employees share their thoughts and feelings
It's crucial to foster the Values after they have been established. We'll introduce some of the initiatives we took to foster the Values since the internal announcement in November 2023, starting with the employee relay initiative. In this initiative, several employees posted their thoughts and feelings about the Values on one of the company's Slack channels on a daily basis. Here are a few selected posts.
▼ Venture investment member
Q1: What value resonates with you the most?
[Own it and see it though]
I feel glad to be in the venture capital field when I can share joys and sorrows with entrepreneurs. It's one of my prides to have many memorable stories with the CEOs of our portfolio companies, reminiscing about the meetings we had, the tough times we faced. I chose this value because I believe it's a privilege to be a stakeholder.
Q2: What are the values you would like to focus on in the future?
[Draw on differences to ignite creativity]
From a VC or investment professional's perspective, it's often possible to operate as an individual or with a small team, and many VC funds do so. However, the significance of working as an organization lies in having many people with diverse strengths, where 1 + 1 isn't just 2, but infinity. The ideal organization for me is where things that I couldn't do alone can be realized on a larger scale. If I'm going to work as a venture capitalist, I believe JAFCO is the best. I still believe that, but I want to strengthen it even more.
▼ Buyout investment member
Q1: What value resonates with you the most?
[Own it and see it though]
In the crowded buyout industry where competition is fierce, I believe that without the determination to "own it and see it through" in every aspect of proposing and sourcing deals, it's difficult to execute investments even once a year. It's honestly tough when, after going through numerous competitions and getting close to closing a deal, competitors fiercely try to turn the deal around. But each time, I reflect on whether my determination was lacking. Also, in post-merger integration, merely giving instructions from a high position doesn't resonate with the employees of the invested company. Management and leadership often require being informed by the invested company's practices, and I want to see it through with a sense of ownership.
Q2: What values do you want to focus on in the future?
[Move faster, dive deeper, reach higher]
I see our buyout team as challengers in the industry. If we don't evolve faster than the top players in the private equity fund industry, we'll never reach the top level. I want to push forward by repeatedly telling myself "move faster, dive deeper, reach higher."
▼ Fund management member
Q1: What value resonates with you the most?
[Be pioneers, stand for integrity]
This is my favorite of the Values. The essence of private equity investment lies in the pioneering spirit. The attitude of creating an unprecedented future by thinking outside the box is something that has been historically inherited by JAFCO and I believe it will remain unchanged in the future.
On the other hand, I don't think JAFCO has led the market just by doing things differently. This value encapsulates integrity, which JAFCO has cherished to ensure the healthy development of its business and the market. It includes aspects like self-discipline, high ethical standards, trust, sincerity, compliance with laws, and taking the orthodox path without resorting to petty tactics. I see these two values, pioneering spirit and integrity, as the two wheels of JAFCO, and this is my favorite value.
Q2: What values do you want to focus on in the future?
[Draw on differences to ignite creativity]
When asked during fundraising what JAFCO's greatest strength is, I immediately responded, "it's our people." I believe JAFCO has gathered outstanding members with distinctive personalities. If we can effectively utilize and coordinate each person's strengths, knowledge, and networks, JAFCO can become even stronger. From the perspective of strengthening fund recruitment, this is the value I want to focus on in the future.
▼ Human resources member
Q1: What value resonates with you the most?
[Be pioneers, stand for integrity]
I felt that this value encapsulates JAFCO's history, akin to the our previous logo of a sailing ship. Just as the direction of a sailing ship is determined by how the sail catches the wind, our direction is also determined by our attitude. This value reminds us of the importance of our approach. Personally, I want to prioritize trust and integrity on a daily basis.
Q2: What values do you want to focus on in the future?
[Move faster, dive deeper, reach higher]
The world is changing rapidly, and workplaces and working styles are undergoing significant transformations that were unimaginable in the past. I feel that it's essential to adapt flexibly to these changes and constantly evolve. I want to use this value as a compass and steadily tackle daily tasks by anticipating the future, taking action, and thinking to enhance value.
JAFCO is actively hiring career professionals!
At JAFCO, we are actively engaged in making mid-career hires. If you resonate with our values, we invite you to apply through the following recruitment page:
Recruitment page: https://hrmos.co/pages/jafco-group/jobs
▼Articles to learn more about JAFCO
50 Years of Challenge and Pioneering: Reflecting on the Evolution of Japan's Startup Ecosystem and JAFCO's Future
https://www.jafco.co.jp/english/andjafco-post/2023/12/18/000364/
JAFCO's Unique Talent Development: Perspectives from New Graduate and Mid-Career Members
https://www.jafco.co.jp/english/andjafco-post/2023/10/11/000351/
