Kazuhiko Chuman, general manager of Japan-based telecommunications firm KDDI’s Open Innovation Fund, said Daisuke ‘DK’ Mitani joined the unit’s San Francisco team two years ago and took the senior director earlier this year.
During his time at the fund, Mitani’s new investments have included:
- Germany-based artificial intelligence-equipped search engine Xayn;
- UK-based emerging country-focused public transport data aggregator WhereIsMyTransport;
- US-based meeting management software provider Bizly; and
- US-based precise GPS technology provider Swift Navigation.
Follow-on investments:
- US-based compliance platform operator Securitize; and
- US-based alternative asset management platform RallyRD (USA)
1. First, just give us a quick overview of who you work for, what you do, and how long you have been doing it.
I am working for the CVC arm of KDDI Corporation, one of the largest telecoms with annual revenue of $50bn.
I’ve been working for the company for almost 20 years. Since 2010, I’ve been engaged in M&A and venture funding activities.
From 2010 to 2018, I’d been based in Tokyo, handling the following investment and related matters:
- Formation of CVC in 2012
- Acquisition of several startup companies, like Nobot (Japan), Natasha (Japan) and KKBOX (Taiwan).
- Tender offer to Eneris in 2018, which was listed on the Tokyo Stock Exchange.
- $10m-plus investment in Japanese startup companies like Every.tv (Japan) and Finatext (Japan).
In October 2018, I moved to San Francisco and was assigned as senior director of the investment team.
2. What attracted you to CVC?
I was engaged in the formation of CVC itself.
Through our experience to create new businesses with startup companies, we came to the understanding of the necessity to have a specific arm to tackle it.
I thought having a CVC arm also contributes to the growing ecosystem of Japanese startups, while the size of startup funding was less than $1bn during that period of time.
3. What have been your greatest successes at your unit?
As a representative of the North America and Europe office, I’ve witnessed some signs of great success, like portfolio companies we invested in series A successfully going to series B.
Securitize (June 2021), RallyRD (May 2021), Allganize (March 2021)
4. What have been your biggest challenges?
Increase the presence in the market and build a reputation as a startup supporter.
KDDI is awarded as the top company for the “Innovative corporate ranking” for four consecutive years.
My challenge is to enhance these reputations in North America, Europe and other markets by accumulating results.
5. What’s your main professional ambition for the future?
Since I have my roots in Japan, I’m eager to contribute to the sustainable growth of the Japanese economy.
Bridging startups between different markets definitely stimulates each market.
I want to be the connector of innovations among those regions.
6. What do you think all CVCs could do better to make it a stronger industry?
Be a risk-taker.
7. And, finally, for colour, what did you do prior to CVC or in your spare time?
I majored in law in college and graduated with a bachelor’s degree from Waseda University in Tokyo.
I’m a huge lover of manga or Japanese comics, piling up thousands of comics in my house in Tokyo.
As a father of two little children, I mostly spend my weekend playing the piano and other musical instruments with them.
