Takeshi Kodama is a founding member, executive manager and head of investment at 31Ventures, Japan-based real estate developer Mitsui Fudosan’s corporate venture capital (CVC) arm with over $400m under management. He has been in this role since April 2015, concurrently serving as head of mergers and acquisitions and business strategy.
Kodama, who is a member of Japan Venture Capital Association’s Open Innovation Committee, said 31Ventures now runs three funds and one budget pool for strategic limited partner VC fund investments.
On his CVC journey, Kodama said: “I would say I am one of the first penguins in the real estate industry because most developers and landlords usually focus on opening co-working and innovation spaces rather than operating CVCs.”
The unit has achieved numerous success stories, according to Kodama, who said: “As for the quantitative aspect, 31Ventures has three initial public offerings on the Tokyo Stock Exchange, three positive mergers and acquisitions from shy of 50 portfolio companies so far. The total equity multiple including LP investments is more than 1.20.
“Regarding strategic return, my team has arranged over 650 business meetings between business units at Mitsui Fudosan and startups, 20% of which result in proof of concept projects or official implementations. These business meetings bring stimulus and educational opportunities for Mitsui Fudosan’s business units.”
Kodama had previously been based in New York at the company’s Mitsui Fudosan America subsidiary for four years and a half from late 2010, first as a project manager before being named director of acquisitions six months later.
