Q&A with Ryota Suzuki, senior investment manager, Sony Innovation Fund by IGV
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 one of the co-founders of the Sony Innovation Fund (SIF), Sony’s corporate venture capital (CVC) arm and also invest through the Innovation Growth Ventures (IGV), a joint fund established in 2019 by Sony and Daiwa Capital. Through both funds, we invest in excellent external researchers and startups, support businesses, and work to accelerate the discovery of new businesses and technological innovations across the world.
As a senior investment manager, I head up funding operations and public relations, overseeing companies in the mobility, entertainment, edtech and technology sectors. Prior to this, I worked in business development at Sony headquarters, where I managed a global team across different business groups and also led “One Sony” activities under former Sony CEO, Kaz Hirai.
2. What attracted you to CVC?
What attracted me to CVC was that it is borderless. You can meet many innovative people, including startups, VCs and CVCs, and many other industry pioneers to become a part of the innovation journey.
When I was working in business development, I engaged and worked with startups across various Sony business groups. As you can imagine, working with startups and a big company can be challenging, however, there was a lot of value that they brought one another.
During the process I received requests from startups to fill the lengthy-time gaps between the initial conversation and the actual engagement, however, at that time, there was no vessel set up to help do this. So instead of an investment, I developed a small project that deployed a point of contact with the startups.
This was a great way to facilitate relationships because, in order to have a fruitful partnership, it is best to know each other and grow together.
2. What have been your greatest successes at your unit?
To date, SIF has invested in over 70 companies. Over the last four years, I have led 20 investments in startups pushing the innovation envelope in gaming, music, mobility and sensor technologies.
3. What have been your biggest challenges?
We built SIF from scratch and there were many challenges along the way.
However, we were lucky enough to have great knowledgeable and capable talented team members, full support from management, and positive acceptance of our efforts across Sony.
Additionally, Gen put a lot of energy behind cross-training and helped us improve significantly while ensuring we remained on track to meet our objectives and goals.
4. What is your main professional ambition for the future?
At SIF, our goal is to continue our impressive track record of investment success, expand the fund, and facilitate the growth of Sony’s business portfolio.
On a personal level, I am eager to continue engaging and meeting new people in my industry. It is very exciting for me to meet so many highly motivated, passionate individuals. I look forward to learning from them and being a part of the innovation journey together.
5. What do you think all CVCs could do better to make it a stronger industry?
As an industry, we need to constantly be thinking of what more we can bring to the table to help portfolio companies grow – not just in the “core” business areas of the mothership company, but also adjacent industries where the innovation happens. Another good point from Gen at the Digital Forum was to, “define investment areas more narrowly” which is another area that will help build a stronger industry and lead to long term success.
6. What are some of your corporate parent’s technology needs and corporate strategy amid the pandemic, as well as your CVC unit’s pain points?
Sony announced “Sony Global Relief Fund for covid-19” back in April 2020 which supports medical, education and creative companies.
Even with covid, SIF has not slowed down its sourcing and investment because of our wide network of global members of SIF, CVC and VC friends, portfolio and startups.
7. And, finally, for colour, what did you do prior to CVC or in your spare time?
Prior to this role, I worked in business development at Sony’s headquarters. Before Sony, I worked as a programmer for a Japanese startup.
