Takeshi Kodama, formerly executive manager at Mitsui Fudosan’s CVC unit, will now lead the property developer’s business development team.

Takeshi Kodama

Takeshi Kodama has departed from 31Ventures, the corporate venture capital unit of Japanese real estate developer Mitsui Fudosan, Global Corporate Venturing has learned.

In his new role, Kodama will lead Mitsui Fudosan’s business development team, focusing on the semiconductor industry.

“I will oversee the entire innovation activities of Japan’s semiconductor industry, by initiating open innovation with Taiwan Semiconductor Research Institute, Japanese and multinational large companies in the industry, semiconductor startups, and so on,” Kodama told GCV.

“Investments in semiconductor startups will be part of my team’s function, if needed. In that regard, I will still be part of CVC activities at Mitsui Fudosan.”

Formed in 2015, 31Ventures was one of the first CVC units launched by a Japanese property developer, according to Kodama who was a founding member of the programme. The unit has 48 active portfolio companies and scored 13 exits. It has also backed nine VC funds globally, including those run by Emerald Technology Ventures, 500 Startups, Jafco and Breakthrough Energy.

With ¥43.5bn ($277m at today’s rate) under management across three funds – ¥5bn CVC 1, ¥8.5bn CVC 2 and ¥30bn Growth 1 – 31Ventures focuses on real estate technology, digitalisation, smart city and other areas strategic to Mitsui Fuodsan.

Kodama was 31Ventures’ executive manager and head of business strategy and investment for nine years from 2015. The unit has yet to disclose a new head.

Having been a long-time member of Japan Venture Capital Association’s Open Innovation Committee, Kodama was featured on GCV Powerlist and Emerging Leaders rosters.

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.