The alliance “aims to meet growing demand for risk money through the private markets, particularly financing needs of unlisted companies with growth potential,” Masahiro Goto, Nomura’s global head of investment banking, said in a briefing.
It also hopes to provide individual investors with opportunities to invest their assets in growth of unlisted companies, he said.
After a few years of privately placed investments, a joint asset management firm between Nomura and Sparx will aim to list an investment corporation on the Tokyo Stock Exchange’s Venture Funds Market, eventually expanding its capacity to over 100 billion yen.
“There aren’t many unicorns in Japan partly because companies go public in early stages, and also because there aren’t many funds committed to late-stage growth companies,” Masatoshi Fukami, Sparx Group’s deputy CEO, said at the briefing.
“We will engage in companies to help raise their corporate value even after their IPOs,” he said. ($1 = 104.0500 yen)