CASE 37 Supporting Vertex Holdings for the applications of Subsidy programs for overseas financial corporations.
Partnership Group Director
Miyuki Shimoda
https://vertexholdings.com/
Vertex Holdings is a Singapore-based venture capital firm, an investment company that invests in venture companies, with over 6.5 billion US$ in assets under management.
Vertex Holdings provides capital as an anchor investor, a large investor in a fund, and supports fund management. The company's headquarters are in Singapore, but it has offices around the world, such as the U.S., Southeast Asian countries, China, and Israel. It invests in startups by leveraging the knowledge it has gained through its global network.
Support by Business Development Center TOKYO (BDCT)
- Human resource recruitment support
- Support application for Overseas Financial Corporation Business Establishment Subsidy Program
(Click here for details: Overseas Financial Corporation Business Establishment Subsidy Program ) - Support application for Subsidy to Support Base of Operations of Overseas Financial Corporations
(Click here for details: Subsidy to Support Base of Operations of Overseas Financial Corporations )
Reason for choosing to establish the company in Tokyo
We have set up an office in Tokyo in 2020 and established our Japanese subsidiary in July 2021.There are two main reasons for this.
First, as investments from Japanese companies into our funds increased, we needed to enhance our support for Japanese investors.
Second, majority of our investments are overseas startups and there was a need for support in their expansion to Japan.
Tokyo, being a hub where information converges, was the natural choice. We didn't consider anywhere other than Tokyo.
The work of venture capital is indeed highly dependent on networking.
Recently, there has been an increase in face-to-face meetings. In addition, there are a lot of startup events held in Tokyo. I think another big advantage of being in Tokyo is that it is easy to participate in such in-person events.
User feedback on BDCT services
BDCT was introduced to us through a support program of the Tokyo Metropolitan Government, and we received assistance in applying for subsidies (Overseas Financial Corporation Business Establishment Subsidy Program and Support Base of Operations of Overseas Financial Corporations). I was involved during the application process for Support Base of Operations of Overseas Financial Corporations, the feedback and meticulous checks on application documents were greatly appreciated.
Our company started by hiring Japanese staff, but I believe that other foreign companies often face barriers in recruiting human resources, language and culture when entering the Japanese market, so it is very helpful to have a service program such as BDCT to provide support in these challenges.
Vertex also provides support to overseas startups who want to enter or expand their business in Japan. We believe that recruiting human resources and raising awareness of the company are challenges and very important parts of overseas startups when they aim for the expansion into Japan. Therefore, we expect BDCT to provide introductions to human resource agencies and marketing support to overseas startups entering the Tokyo market.
Outlook for future business development
Most recently, we announced the launch of a fund to invest in Japanese startups. We plan to expand our team and hope to play a role in supporting the global expansion of Japanese startups.