JAFCO 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 (37.1% of total investments), domestic buyout (BO) investment (29.7%), VC investment in the US (20.7%), and VC investment in Asia (excluding Japan; 12.6%) (as of FY03/23).