Kei Honda, head of corporate venturing at Idemitsu Americas Holdings Corporation, is one of our top 50 Emerging Leaders in corporate venturing for 2026.
Kei Honda heads Idemitsu’s corporate venturing efforts in the US, helping the Japanese energy company navigate the intersection of startups, emerging technologies and traditional industrial operations. In 2021, he launched Idemitsu Americas Holding Corporation and was tasked with exploring new business opportunities. At the time, the company had no formal venturing strategy and Honda was one of the few people spearheading the initiative.
The team began with LP investments in growth equity funds focused on the energy sector, before moving into direct investments in startups addressing energy, carbon reduction, recycling and related technologies.
Today, the US team includes six members. There are currently five startups in the portfolio. Honda also collaborates with Idemitsu’s European venturing team to maintain a global perspective on investment opportunities.
“The perspectives of business units and startups are very different. One of our roles is to fill the gaps between both sides, helping each understand the other’s priorities, timelines and constraints”
His approach balances strategic opportunities with the operational risks and realities of a large energy company. While the team focuses primarily on seed to series B startups, all investments require approval from an investment committee, including corporate planning and finance teams in Japan. At the same time, the team seeks potential strategic returns from the investments by setting its own strategy on how it should expand its business in the US, as well as bring innovative technologies back to the Japanese market, where the parent company has larger presence.
The greatest challenge Honda faces is bridging the cultural and operational gaps between startups and a traditional corporate environment. “The perspectives of business units and startups are very different,” he says. “One of our roles is to fill the gaps between both sides, helping each understand the other’s priorities, timelines and constraints.”
Honda’s advice for aspiring corporate venturers is to remain neutral, listen carefully and learn from entrepreneurs and other investors.
The Emerging Leaders are mid-career corporate venture professionals who are making an outstanding contribution to their teams and the industry.
See the full list of Emerging Leaders here.
