JAFCO (which will be renamed JAFCO Group Co., Ltd. on October 1, 2020) is the largest specialist venture capital company in Japan. JAFCO raises capital from investors and allocates it to the funds (investment limited partnerships) it establishes. These funds then make equity investment in startups and other high-potential unlisted companies to provide growth capital. JAFCO’s main businesses are Japanese domestic venture capital (VC) investment (55.2% of total investment amount), domestic buyout (BO) investment (16.4%), VC investment in the US (24.2%), and VC investment in Asia (excluding Japan; 4.2%) (as of FY03/20). Total commitments to JAFCO-managed funds stood at JPY433.9bn in FY03/20. Annual investment of JPY34.8bn represents a 10.5% share of the Japanese VC market. CAGR (FY03/11 to FY03/20) was 7.8% for revenue and 20.3% for operating profit.