JP6921292B1 - Information provision system, information provision method, and information provision program - Google Patents

Abstract

PROBLEM TO BE SOLVED: To operate a fund of funds which has merits for all of strategic investors, companies wishing to raise funds or business alliances, and VC / PE funds. An investment project database 12a is managed by an asset management company MC that invests in GPs (General Partners) of a plurality of individual funds. The acquisition unit 11a acquires the investment project information collected by each individual fund and stores it in the investment project database 12a. The reception unit 11b receives a search request for investment project information for which search conditions are specified from a terminal device 30 used by a strategic investor who invests LP in a master fund that invests in LP (Limited Partnership) in a plurality of individual funds. The search collation unit 11c searches the investment project database 12a based on the accepted search conditions, and extracts investment project information that matches the search conditions. The providing unit 11d provides the extracted investment project information to the terminal device 30. [Selection diagram] Fig. 2

Description

The present invention relates to an information providing system, an information providing method, and an information providing program for providing investment project information to investors.

Strategic investors in Japan and overseas, mainly major business companies, are required to obtain investment decision information necessary for considering synergies with their own businesses related to innovation and new technologies, entry into new business fields, etc. It promotes market research and strategic investment through direct investment and its own CVC (Corporate Venture Capital).

Investing in external VC funds and PE (Private Equity) funds in order for strategic investors to improve the quality and quantity of information gathering is an effective means compared to individual investment. In general, investing in an external VC / PE fund makes it possible to improve access opportunities to investees and obtain more information than can be obtained through the company's network. In particular, the Fund of Funds (FoF), which invests in multiple VC / PE funds, is a scheme that enables efficient and wide-ranging information gathering through regular reports from each fund.

Access to corporate information of companies in which VC / PE funds included in the fund of funds portfolio have actually invested is possible to some extent through regular reports and investment reports (see, for example, Patent Document 1). be. However, it is difficult to access the information necessary for making investment decisions from the perspective of strategic investors. In addition, it is virtually impossible for each VC / PE fund to access information on investment candidate companies that have not actually invested.

In this way, in addition to direct investment by strategic investors, market research and strategic investment through in-house CVCs, etc., investing in external VC / PE funds will increase investment opportunities and information gathering opportunities for strategic investors. Contribute to. Furthermore, investing in a fund of funds enables efficient and broader information gathering. However, access to information and investment opportunities necessary for making investment decisions from the perspective of strategic investors are not sufficient, and it is considered that they are restricted.

Information on start-up companies and venture companies that receive investment from VC / PE funds is that strategic investors who are investing in VC / PE funds or Funds of Funds if investment from VC / PE funds is postponed. It is unlikely that you will see it. Moreover, even if the investment in the company is made, it is unlikely that the financing needs and business alliance needs of the company will be transmitted to strategic investors.

The investment decisions of strategic investors, which also consider synergies with their own businesses, and the investment decisions of VC / PE funds, which pursue pure investment returns, do not always match. A deal that a VC / PE fund has forgotten to invest in may be an attractive deal for a particular strategic investor. In this way, there are situations in which start-up companies and venture companies that receive investment from VC / PE funds are missing out on opportunities for investment and alliances from strategic investors who have potential investment demand. This situation applies to both companies that have succeeded in receiving investment from VC / PE funds and those that have failed.

Also, for a fund investing in a start-up company or a venture company, if the corporate value of the company increases due to the alliance between the company and a strategic investor, the value of the fund itself will also increase.

Japanese Unexamined Patent Publication No. 2015-132913

The present invention has been made in view of these circumstances, the purpose of which is to operate a fund of funds that benefits strategic investors, companies wishing to raise funds or business alliances, and VC / PE funds. Is to provide the technology to do.

In order to solve the above problems, the information providing system of a certain aspect of the present invention invests in GP (General Partner) of a plurality of individual funds including at least one of a start-up company, a venture company, and a growth company as an investment target. The investment project database managed by the asset management company and the investment project information collected by each individual fund input from each individual fund or the terminal device used by the asset management company are acquired and stored in the investment project database. From the acquisition department to accumulate and the terminal device used by the strategic investor of the master fund who invests LP in the master fund that invests LP (Limited Partnership) in the plurality of individual funds based on the investment decision of the asset management company. , A reception unit that accepts search requests for investment project information for which search conditions are specified, and a search collation unit that searches the investment project database based on the accepted search conditions and extracts investment project information that matches the search conditions. And, it is provided with a providing unit that provides the extracted investment project information to the terminal device used by the strategic investor.

Another aspect of the present invention is a method of providing information. In this method, each individual fund or said asset is stored in the investment project database managed by the asset management company that has invested in the GP of multiple individual funds that include at least one of a startup company, a venture company, and a growth company. A master fund that acquires and accumulates investment project information collected by each individual fund input from a terminal device used by the management company, and invests in LPs in the plurality of individual funds based on the investment decisions of the asset management company. Based on the step of accepting a search request for investment project information for which search conditions are specified from the terminal device used by the strategic investor of the master fund who is investing in LP, and the accepted search conditions, the investment project database. It has a step of searching for and extracting investment project information matching the search conditions, and a step of providing the extracted investment project information to the terminal device used by the strategic investor.

It should be noted that any combination of the above components and the conversion of the expression of the present invention between devices, systems, methods, computer programs and the like are also effective as aspects of the present invention.

According to the present invention, it is possible to operate a fund of funds that benefits strategic investors, companies wishing to raise funds or business alliances, and VC / PE funds.

It is a figure which shows the whole structure of the fund of funds which concerns on embodiment of this invention. It is a figure which shows the whole system configuration for realizing the information providing service to the investor of the fund of funds which concerns on embodiment of this invention. It is a figure which shows an example of the schematic data structure of the investment project database. It is a flowchart which shows an example of the investment project information provision processing by the information provision system which concerns on embodiment (the 1). It is a flowchart which shows an example of the investment project information provision processing by the information provision system which concerns on embodiment (the 2).

An embodiment of the present invention relates to a fund of funds accompanied by a service for providing investment project information to investors. The fund of funds is a financial product suitable for strategic investors. Strategic investors aim to invest in companies that are advantageous to their business strategy, not net investment, and aim to improve the value of themselves and the investee companies through management participation in investee companies and business integration. It is a thing.

FIG. 1 is a diagram showing an overall structure of a fund of funds according to an embodiment of the present invention. The fund of funds is a master fund (also called a feeder fund) that invests in multiple PE funds. Multiple PE funds are funds established in different regions. For example, it will be established in India, China, Russia, Australia, Africa, Silicon Valley in the United States, etc. PE funds in each region mainly invest in local private start-ups, venture companies, and growth companies.

The master fund is managed by the asset management company MC. Asset management company MC is a joint-stock company that plans, establishes, and supports the operation of new funds in Japan and overseas. The asset management company MC also builds and operates an information provision system, which will be described later.

In this embodiment, the master fund is formed by an investment limited partnership (LPS). Investment Limited Partnership (LPS) consists of General Partner (GP) and Limited Partner (LP). A general partnership member (GP) is a member who has unlimited liability externally. Limited Liability Partnership (LP) is a member who is liable to the extent of investment.

The asset management company MC participates in the master fund as a general partnership member (GP) of the master fund, selects investment targets, and builds and manages a portfolio. In addition, the asset management company MC has obtained a license for the Type 2 financial instruments business and solicits LP investment in the master fund.

The asset management company MC manages PE funds in all investment target regions in partnership with leading local partners. For example, a local partner and an asset management company MC establish a management company or management fund to manage a PE fund with a 50:50 stake. The operating company or the operating fund participates in the PE fund as a member of the PE fund's general partnership (GP). The asset management company MC dispatches directors, directors, investment committee members, team members, etc. to each management company or each management fund, and is directly involved in the management of each PE fund.

Furthermore, the asset management company MC has set up a business development desk (BDD) at the management company or management fund of the PE fund, and a person in charge is stationed at the business promotion desk. Local partners or business promotion desk personnel collect information on the latest innovations and startups from local universities, research institutes, etc.

In addition to collecting investment-related information, the Business Promotion Desk discovers Japanese and local business needs regarding existing investment destinations and investment candidates of PE funds. The business promotion desk arranges business opportunities such as business matching, business alliances, and M & A based on business needs. At that time, the business promotion desk can utilize a fund network with business promotion desks in other regions and a network with financial institutions such as investment banks.

In this way, the asset management company MC invests GP in PE funds in each region and sends human resources to the GP-funded operating company or operating fund to grasp the investment destination information and pipeline information of each PE fund in detail. be able to. The investment destination information includes not only information on companies that the PE fund has already invested in, but also information on companies that are considering investment, and information on companies that have forgotten to invest as a result of the examination. In addition, the asset management company MC can also collect peripheral information (for example, local cutting-edge technology information, etc.) of investment destination information and pipeline information through a local partner or a business promotion desk.

Multiple investors make LP investments in the master fund in which the asset management company MC participates as a general partnership member (GP). Investors who invest in LPs in master funds are mainly strategic investors.

Multiple investors are investing in LPs in PE funds in each region. The master fund invests in each PE fund as one of the LP investors of each PE fund. The operating company or operating fund of each PE fund usually invests a certain amount in each PE fund as a commitment. For example, 1% of the total amount of the fund will be invested in the PE fund that it manages.

The operating company or operating fund of the PE fund receives the management fee of the fund from the LP investor of the PE fund. Fund management fees are often set at 1-2% of the investment amount. In addition, the operating company or operating fund of the PE fund receives a success fee from the excess income of the PE fund when the PE fund produces excess income. Success fees are often set at 20% of excess earnings. In that case, the remaining 80% will be distributed to each LP investor according to their equity. If the operating company or the operating fund is committed, the operating company or the operating fund will also receive a distribution according to its equity, in addition to the performance fee.

The master fund pays the management company or management fund of each PE fund, like other LP investors, a management fee of 1 to 2% of the investment amount. If excess returns are generated in each PE fund, the master fund receives a distribution according to the investment ratio in each PE fund.

The asset management company MC, which manages the master fund, receives the fund management fee from the LP investor of the master fund. Since the master fund pays the management fee of 1 to 2% of the investment amount to the management company or management fund of each PE fund, the LP investor of the master fund pays the management fee of 1 to 2 + α% of the investment amount. To receive. α is set, for example, between 0.1 and 2.0.

The asset management company MC, which manages the master fund, may conclude a contract with an investor who invests in LP in the master fund to receive a success fee from the excess profit of the master fund when the master fund makes excess profit. can. Since the asset management company MC can receive the success fee for the excess profit of each PE fund at a certain ratio through the management company or the management fund of each PE fund, it does not receive the success fee from the excess profit of the master fund. It may be a contract. Further, even if the asset management company MC makes a contract to receive a success fee from the excess profit of the master fund, the success fee may be lower than usual.

In addition, since the asset management company MC commits to each PE fund through the management company or management fund of each PE fund, there is basically no need to invest in the master fund. In addition, in order to strengthen the commitment, the asset management company MC may invest a certain amount in the master fund.

The overall structure of the fund of funds explained above is a structure in which the asset management company MC becomes a general partnership member (GP) of the master fund and manages it by itself. In this regard, a master fund and an operating company or operating fund that manages the master fund as a GP will be established in a country with a lower tax rate than Japan, and investment will be made between the operating company or the operating fund and the asset management company MC. It may be a structure that concludes a discretionary contract. In both structures, the master fund is managed based on the investment decisions of the asset management company MC.

In the above explanation, it is assumed that the master fund invests in the PE fund. In this respect, the funds invested by the master fund are not necessarily limited to PE funds. The master fund can also invest in a fund that invests in listed stocks. In the case of a company in an emerging country, even if it is listed, the information disclosure of the company may be insufficient. Especially in the case of a small company that has just been listed, information disclosure is often insufficient.

The master fund may also invest in multiple PE funds classified by industry rather than by region or country. The asset management company MC can aim to improve the performance of PE funds established in each industry by partnering with the most suitable partners for each industry.

FIG. 2 is a diagram showing an overall system configuration for realizing an information providing service for investors of the fund of funds according to the embodiment of the present invention. The asset management company MC operates and manages the information providing system 10. Investors (hereinafter, appropriately referred to as FoF investors) A-C who have invested in the fund of funds can access the information providing system 10 from their own terminal devices 30a-30c.

Terminal devices 20a-20c will be installed in the offices of PE Fund AC invested by the Fund of Funds, respectively, and will be used by the person in charge of the local partner AC or the business promotion desk AC. The terminal device 20a-20c may be a terminal device carried by a person in charge of the local partner AC or the business promotion desk AC. In FIG. 2, the number of FoF investors and the number of PE funds are set to 3 for convenience, but the number of each is not limited to 3.

The plurality of terminal devices 30a-30c used by FoF investors AC and the plurality of terminal devices 20a-20c used by PE fund AC include general-purpose desktop PCs, notebook PCs, tablet PCs, smartphones, etc. Can be used.

The information providing system 10, the plurality of terminal devices 30a-30c used by the investors AC, and the plurality of terminal devices 20a-20c used by the PE fund AC are connected via the network 5. Network 5 is a general term for communication paths such as the Internet and leased lines, and its communication medium and protocol do not matter. As the communication medium, for example, an optical fiber network, an ADSL network, a CATV network, a mobile phone network, a wired LAN, a wireless LAN, or the like can be used. As the communication protocol, for example, TCP (Transmission Control Protocol) / IP (Internet Protocol), Ethernet (registered trademark) and the like can be used. In order to enhance security, a plurality of terminal devices 20a-20c installed in the office of PE fund AC and the information providing system 10 may be connected by a dedicated line.

The information providing system 10 is composed of at least one information processing device (for example, a server or a PC). The information processing device constituting the information providing system 10 may be installed in the company of the asset management company MC, or may be installed in the data center. In the latter case, the information providing system 10 is built on the cloud server based on the cloud service contract.

The information providing system 10 includes a processing unit 11 and a storage unit 12. Although not shown in FIG. 2, a communication device (for example, a router) is installed between the network 5 and the processing unit 11. The processing unit 11 includes an acquisition unit 11a, a reception unit 11b, a search collation unit 11c, and a provision unit 11d.

The function of the processing unit 11 can be realized only by the cooperation of the hardware resource and the software resource, or by the hardware resource alone. As hardware resources, CPU, ROM, RAM, GPU (Graphics Processing Unit), ASIC (Application Specific Integrated Circuit), FPGA (Field Programmable Gate Array), SoC (System on a Chip), and other LSIs can be used. Programs such as operating systems, middleware, and applications can be used as software resources.

The storage unit 12 includes a non-volatile recording medium such as an HDD (Hard Disk Drive) and an SSD (Solid State Drive), and records various programs and data. In the present embodiment, the investment project database 12a is constructed in the storage unit 12.

The console terminal device 13 is used as a user interface of the information providing system 10. When the console terminal device 13 is directly connected to the processing unit 11, the console terminal device 13 is composed of an operation unit and a display unit. The operation unit includes a keyboard, a mouse, a touch panel, and the like, and outputs an operation signal based on the operation received from the user to the processing unit 11. The display unit includes a display such as a liquid crystal display or an organic EL display, and displays an image generated by the processing unit 11.

When the console terminal device 13 and the processing unit 11 are connected via an in-house LAN, the console terminal device 13 is composed of a PC including an operation unit and a display unit. When the information providing system 10 is installed outside the company, the console terminal device 13 and the processing unit 11 are connected to the in-house LAN via the Internet (or a dedicated line).

The local partner of the PE fund or the person in charge of the business promotion desk (hereinafter, appropriately referred to as the local person in charge) inputs the investment project information collected locally into the terminal device 20. The acquisition unit 11a of the information providing system 10 acquires the investment project information input to the terminal device 20 via the network 5. The acquisition unit 11a stores the acquired investment project information in the investment project database 12a.

If the local person in charge of the PE fund transmits the investment project information collected locally to the person in charge of the asset management company MC by telephone, e-mail, business chat, mail, etc., the person in charge of the asset management company MC will The received investment project information is input to the console terminal device 13. The acquisition unit 11a acquires the investment project information input to the console terminal device 13, and stores the acquired investment project information in the investment project database 12a.

The investment project database 12a is a database that collectively manages investment project information collected from all PE funds included in the fund of funds portfolio. The investment project information managed in the investment project database 12a includes all the project information of the projects that each PE fund has invested in, the projects that have been examined but not invested, and the projects under consideration.

FIG. 3 is a diagram showing an example of a schematic data structure of the investment project database 12a. In the investment project database 12a shown in FIG. 3, company introduction information and relationship building needs information for strategic investors are registered as investment project information of each company. For example, as basic information of company introduction information, location, year of establishment, capital, officers, number of employees, outline of business contents, etc. are registered. Further, information collected by the local person in charge may be registered as additional information of the company introduction information. For example, information on the features and strengths of products and technologies, and detailed financial information may be registered. This information may be information obtained from the company itself, or may be information obtained from universities, research institutes, specialized media, other companies in the same industry, and the like.

The relationship-building needs information for strategic investors is information that summarizes the relationship-building needs that the company desires for strategic investors based on the results of hearings with the company by the local person in charge. Relationship-building needs for strategic investors include not only financing needs but also alliance needs for business synergies. Needs for building relationships with strategic investors are broadly divided into those with investment from strategic investors and those without investment.

Needs for building relationships with investment from strategic investors mainly include M & A, business alliances with investment, and joint development (including joint research) with investment. The main needs for building relationships without investment from strategic investors include business alliances without investment, joint development without investment, financing, and mediation of products.

The local person in charge will hear from the company whether or not there is a desire for each item of relationship building needs for strategic investors. Regarding the desired items, the local person in charge will hear the detailed desired conditions. For example, if a local representative wishes to build a relationship with investment, the local representative wishes to accept the desired investment amount, joint investment between the strategic investor and the fund of funds, or a joint venture with the strategic investor. Hear if you would like to establish it. In addition, for example, when a business alliance or joint development is desired, the local person in charge hears about the type of business, scale, etc. of the company for which the alliance is desired. The local person in charge inputs the relationship-building needs for the strategic investor interviewed by the company into the terminal device 20.

The investment project information registered in the investment project database 12a also includes restriction information on information disclosure based on various laws and regulations by local regulators and confidentiality agreements with the company or information provider. For example, the constraint information includes a range of information that can be disclosed to a fund of funds investor. The local person in charge inputs the constraint information regarding the compliance into the terminal device 20.

In order to facilitate the search, the investment project information input to the investment project database 12a may be given an industry code, a technical field code, a code indicating the financing stage, and the like for each company. These codes are given by the person in charge of the asset management company MC.

The investment project database 12a is provided to the FoF investor as a search system for investment project information. The Fund of funds investor can access the investment project database 12a of the information providing system 10 from the terminal device 30. When the FoF investor searches for investment project information in the investment project database 12a, the FoF investor inputs search conditions into the terminal device 30.

For example, when the investment project information in the investment project database 12a is classified by search items such as industry, technical field, region, years of establishment, financing stage, etc., the FoF investor desires at least one search item. Enter the conditions of. When a plurality of condition candidates are presented for each search item, the FoF investor selects a desired candidate from a plurality of condition candidates for at least one search item. In addition, the FoF investor can also search for investment project information having a description of a company introduction including the keyword by inputting a search keyword into the terminal device 30.

The search conditions specified by the FoF investor may include relationship-building needs for start-up companies, venture companies, growth companies (hereinafter, as appropriate, these are collectively referred to as venture companies, etc.). The relationship-building needs include not only investment needs but also alliance needs for business synergies. Needs for building relationships with venture companies are broadly divided into those with investment in venture companies and those without investment. Needs for building relationships that involve investment in venture companies include M & A, business alliances that involve investment, and joint development that involves investment. The main needs for building relationships without investing in venture companies include business alliances without investment, joint development without investment, financing, and mediation of products.

A Fund of Funds investor may specify at least one of the upper and lower limits of the investment amount if the specified search condition includes a relationship-building need that involves investment in a venture company.

The reception unit 11b of the information providing system 10 receives a search request for investment project information for which search conditions are specified from the terminal device 30 used by the FoF investor. The search collation unit 11c searches the investment project database 12a based on the search conditions received by the reception unit 11b, and extracts investment project information that matches the search conditions. Specific examples of extraction will be described later. The providing unit 11d provides the extracted investment project information to the terminal device 30 used by the FoF investor.

The terminal device 30 that has received the investment project information displays the investment project information on the screen and makes it available for viewing by the FoF investor. When the FoF investor performs a print operation, the terminal device 30 prints out the investment project information.

Of the investment project information, the company introduction information is, in principle, unconditionally provided to the FoF investor who has accessed the information providing system 10. Even if it is company introduction information, information that cannot be disclosed due to local laws and non-disclosure agreements will not be provided to FoF investors.

Of the investment project information, information on needs for building relationships with strategic investors is determined each time whether or not it can be provided to each FoF investor based on the priority among investors. The basic idea of priorities among investors is as follows.
(A) An investor who has an LP investment in a PE fund, and at the time of committing to the PE fund, as an "investor with a large amount of money" with the GP, with other investors of the PE fund. If there is an investor who has priority in, the access right of the FoF investor to this investment project is restricted.
(B) An investor who has made an LP investment in a PE fund, and at the time of committing to the PE fund, as an "early commit investor" with the GP, with other investors of the PE fund. If there is an investment project that has priority in, the access right of the FoF investor to this investment project is restricted.
(C) A FoF investor, at the time of committing to the FoF, as a "large amount of investor" with the GP (Management Company), gives priority to other investors of the FoF. If there is an investment project that the FoF investor has, the access right to the investment project is restricted. (D) When a FoF investor commits to the FoF, he / she will be given priority with other investors of the FoF as an “early commit investor” with the GP (Management Company). If there is an investment project that the FoF investor has, the access right to the investment project is restricted.

If the search conditions specified by the FoF investor do not include the relationship-building needs for venture companies, etc., the relationship-building needs information for strategic investors is not provided to the FoF investors in principle. If a venture company wishes to proactively disclose information on needs for building relationships to strategic investors to strategic investors, it is subject to the search conditions specified by FoF investors within the above priority criteria. It will be offered to FoF investors. Of the relationship-building needs information for strategic investors, relationship-building needs that do not involve investment are provided to FoF investors regardless of the above priority, if a venture company or the like wishes.

FIG. 4 is a flowchart showing an example of investment project information provision processing by the information provision system 10 according to the embodiment (No. 1). FIG. 5 is a flowchart showing an example of investment project information provision processing by the information provision system 10 according to the embodiment (No. 2).

The reception unit 11b receives a search request for investment project information for which search conditions are specified from the terminal device 30a of the FoF investor A (S10). The search conditions include the planned investment commit amount and the planned commit time. For example, the planned investment amount of FoF Investor A is 20 million yen, and the planned investment time is April 1. The search collation unit 11c searches the investment project database 12a based on the search conditions received by the reception unit 11b, and extracts investment project information that matches the search conditions (S11).

Regarding the company related to the extracted investment project information, the search collation unit 11c is a PE investor who is making an LP investment in the PE fund, and at the time of committing to the PE fund, the search collation unit 11c has "a large amount of investor" with the GP. ", It is determined whether or not there is an investor who has a priority with other investors of the PE fund (S12). If there is an investor who has priority in M & A related to the company, business alliance with investment, or negotiation of joint development with investment, the local person in charge will start from the terminal device 20 of the company. In the detailed information field of the relationship building needs information, enter status information indicating that there is a PE investor who has priority regarding the investment project information of the company. When there is a PE investor with priority (Y in S12), the search collation unit 11c determines whether or not there is a compliance problem with local laws and regulations when disclosing information to the FoF investor (S18). .. When there is no problem (Y in S18), the providing unit 11d provides the terminal device 30a of the FoF investor A with the investment project information that does not include the relationship building need information for the strategic investor (S19). In the example shown in FIG. 3, the relationship-building needs information for the strategic investor of the investment project information of the company A4 is not provided to the FoF investor A. If the company A4 wishes, the information on the need for building a relationship without investment will be provided to the FoF investor A. When there is a compliance problem (N in S18), the providing unit 11d provides the investment project information to the terminal device 30a of the FoF investor A only for information disclosure within the range where there is no compliance problem (N). S20).

In step S12, when there is no PE investor having priority (N in S12), the search collation unit 11c is a PE investor who makes an LP investment in the PE fund with respect to the company related to the extracted investment project information. At the time of committing to the PE fund, it is determined whether or not there is an investor who has priority with other investors of the PE fund as an "early commit investor" with the GP. (S13). When there is a PE investor with priority (Y in S13), the search collation unit 11c determines whether or not there is a compliance problem with local laws and regulations when disclosing information to the FoF investor (S18). .. When there is no problem (Y in S18), the providing unit 11d provides the terminal device 30a of the FoF investor A with the investment project information that does not include the relationship building need information for the strategic investor (S19). In the example shown in FIG. 3, the relationship-building needs information for the strategic investor of the investment project information of the company A4 is not provided to the FoF investor A. If the company A4 wishes, the information on the need for building a relationship without investment will be provided to the FoF investor A. When there is a compliance problem (N in S18), the providing unit 11d provides the investment project information to the terminal device 30a of the FoF investor A only for information disclosure within the range where there is no compliance problem (N). S20).

In step S13, when there is no PE investor having priority (N in S13), the search collation unit 11c is a FoF investor with respect to the company related to the extracted investment project information, and at the time of committing to the FoF, It is determined whether or not there is an investor who has priority with other investors of the FoF as a "large amount of investor" with the GP (FoF management company) (S14). .. That is, it is determined whether or not there is a FoF investor with an investment commit amount larger than the investment commit planned amount input by the FoF investor A for the company. When there is a FoF investor with priority (Y in S14), the search collation unit 11c determines whether or not there is a compliance problem with local laws and regulations when disclosing information to the FoF investor (S18). .. When there is no problem (Y in S18), the providing unit 11d provides the terminal device 30a of the FoF investor A with the investment project information that does not include the relationship building need information for the strategic investor (S19). In the example shown in FIG. 3, the relationship-building needs information for the strategic investor of the investment project information of the company A5 is not provided to the FoF investor A. If the company A5 wishes, the information on the need for building a relationship without investment will be provided to the FoF investor A. When there is a compliance problem (N in S18), the providing unit 11d provides the investment project information to the terminal device 30a of the FoF investor A only for information disclosure within the range where there is no compliance problem (N). S20).

In step S14, when there is no FoF investor having a priority (N in S14), the search collation unit 11c is a FoF investor with respect to the company related to the extracted investment project information, and at the time of committing to the FoF, It is determined whether or not there is an investor who has priority with other investors of the FoF as an "early commit investor" with the GP (FoF management company) (S15). .. That is, it is determined whether or not there is a FoF investor who plans a commit time earlier than the scheduled commit time input by the FoF investor A, or a FoF investor who has already committed the company. When there is a FoF investor with priority (Y in S15), the search collation unit 11c determines whether or not there is a compliance problem with local laws and regulations when disclosing information to the FoF investor (S18). .. When there is no problem (Y in S18), the providing unit 11d provides the terminal device 30a of the FoF investor A with the investment project information that does not include the relationship building need information for the strategic investor (S19). In the example shown in FIG. 3, the relationship-building needs information for the strategic investor of the investment project information of the company A3 is not provided to the FoF investor A. If the company A3 wishes, the information on the need for building a relationship without investment will be provided to the FoF investor A. When there is a compliance problem (N in S18), the providing unit 11d provides the investment project information to the terminal device 30a of the FoF investor A only for information disclosure within the range where there is no compliance problem (N). S20).

In step S15, when there is no FoF funder with priority (N in S15), the search collation unit 11c determines whether or not there is a compliance problem with local laws and regulations when disclosing information to the FoF investor. (S16). When there is no problem (Y in S16), the providing unit 11d provides the investment project information including the relationship building need information for the strategic investor to the terminal device 30a of the FoF investor A (S17). When there is a compliance problem (N in S16), the providing unit 11d provides the investment project information to the terminal device 30a of the FoF investor A only for information disclosure within the range where there is no compliance problem (N). S20).

As described above, according to the present embodiment, it is possible to operate a fund of funds that has merits for all of FoF investors, venture companies, etc., and VC / PE funds.

Traditionally, the information available to strategic investors has been limited to a portion of the information on the deals of companies invested by VC / PE funds in the fund of funds portfolio. The information provided by the VC / PE fund did not meet the needs of strategic investors from the perspective of strategic investors. In addition, the project information provided by the VC / PE fund did not include project information that did not lead to investment in principle. Even when provided exceptionally, the information was limited and inadequate from the perspective of strategic investors.

On the other hand, in this embodiment, FoF includes detailed investment project information including information on projects that have led to investment, information on projects that have not been invested, information on projects under consideration for investment, and information obtained by local personnel. A mechanism will be built that investors can easily access. This allows strategic investors to obtain the information they need to make investment decisions from a strategic investor's perspective through investing in a fund of funds.

In addition, not only companies that have accepted investment from VC / PE funds, but also companies that have been considered for investment but have not made investment will be able to build relationships with strategic investors through the information provision system 10 related to this embodiment. there is a possibility. Specifically, through the information provision system 10, it is possible to increase financing opportunities, diversify funding sources, and increase opportunities for alliances with major companies. Building relationships with strategic investors will contribute to increasing the corporate value of the company.

Also, for VC / PE funds, if the corporate value of the investee company rises, it will lead to an increase in the value of the fund itself. Further increase in the value of VC / PE funds will lead to an increase in the value of the fund of funds itself.

In addition, by prioritizing access rights to information on needs for building relationships with strategic investors among FoF investors, investment negotiations between investors and venture companies can proceed smoothly.

The present invention has been described above based on the embodiments. Embodiments are examples, and it will be understood by those skilled in the art that various modifications are possible for each of these components and combinations of each processing process, and that such modifications are also within the scope of the present invention. ..

For example, the management fee paid by the FoF investor to the asset management company MC may be considered in prioritizing the access right of the relationship building need information to the strategic investor among the FoF investors. For example, in step S15 of FIG. 4, when the commit time is subordinated to other FoF investors (Y in S15), in the search collation unit 11c, the FoF investor A included in the search condition is the asset management company. It is determined whether or not the management fee paid to the MC is equal to or greater than the predetermined amount. If the amount is equal to or more than the predetermined amount and there is no compliance problem (Y in S16), the providing unit 11d transfers the investment project information including the relationship-building needs information for the strategic investor to the terminal device 30a of the FoF investor A. Provide (S17). In addition, instead of the management fee amount, the management fee rate or the equity of FoF Investor A in the entire fund of funds may be used as a reference.

MC asset management company, 10 information provision system, 11 processing department, 11a acquisition department, 11b reception department, 11c search collation department, 11d provision department, 12 storage department, 12a investment project database, 13 console terminal equipment, 20a, 20b, 20c , 30a, 30b, 30c terminal equipment, 5 networks.

Claims (9)

An investment project database managed by an asset management company that invests in GPs (General Partners) of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets.
An acquisition unit that acquires investment project information collected by each individual fund and accumulates in the investment project database, which is input from the terminal device used by each individual fund or the asset management company.
Search conditions are specified from the terminal device used by the strategic investor of the master fund, which invests LP in the master fund that invests in LP (Limited Partnership) in the plurality of individual funds based on the investment decision of the asset management company. The reception department that accepts search requests for investment project information
A search collation unit that searches the investment project database based on the accepted search conditions and extracts investment project information that matches the search conditions.
A provider that provides the extracted investment project information to the terminal device used by the strategic investor, and
Equipped with a,
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
There is an investor who has LP investment in the individual fund, which has priority over the investment project information extracted as the investment project information that matches the search conditions specified by the search collation unit for a certain strategic investor. case,
The providing unit is an information providing system characterized by providing investment project information that does not include the needs information to the terminal device used by the searched strategic investor. An investment project database managed by an asset management company that invests in GPs (General Partners) of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets.
An acquisition unit that acquires investment project information collected by each individual fund and accumulates in the investment project database, which is input from the terminal device used by each individual fund or the asset management company.
Search conditions are specified from the terminal device used by the strategic investor of the master fund, which invests LP in the master fund that invests in LP (Limited Partnership) in the plurality of individual funds based on the investment decision of the asset management company. The reception department that accepts search requests for investment project information
A search collation unit that searches the investment project database based on the accepted search conditions and extracts investment project information that matches the search conditions.
A provider that provides the extracted investment project information to the terminal device used by the strategic investor, and
With
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which the search collation unit prioritizes the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor in terms of the committed amount, and invests LP in the master fund. If there are investors
The providing unit, information providing systems that characterized by providing investment information not including the needs information, to your terminal device used by search strategy investors. An investment project database managed by an asset management company that invests in GPs (General Partners) of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets.
An acquisition unit that acquires investment project information collected by each individual fund and accumulates in the investment project database, which is input from the terminal device used by each individual fund or the asset management company.
Search conditions are specified from the terminal device used by the strategic investor of the master fund, which invests LP in the master fund that invests in LP (Limited Partnership) in the plurality of individual funds based on the investment decision of the asset management company. The reception department that accepts search requests for investment project information
A search collation unit that searches the investment project database based on the accepted search conditions and extracts investment project information that matches the search conditions.
A provider that provides the extracted investment project information to the terminal device used by the strategic investor, and
With
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which the search collation unit prioritizes the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor at the time of commit, and invests LP in the master fund. If there are investors
The providing unit, information providing systems that characterized by providing investment information not including the needs information, to your terminal device used by search strategy investors. The computer
Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first step of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second step of accepting search requests for
Based on the accepted search conditions, the third step of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth step of providing the extracted investment project information to the terminal device used by the strategic investor, and
The execution,
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
There is an investor who has LP investment in the individual fund, in which the third step has priority over the investment project information extracted as the investment project information that matches the search conditions specified by a certain strategic investor. case,
The fourth step is an information providing method characterized in that investment project information that does not include the needs information is provided to the terminal device used by the searched strategic investor. The computer
Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first step of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second step of accepting search requests for
Based on the accepted search conditions, the third step of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth step of providing the extracted investment project information to the terminal device used by the strategic investor, and
And
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which the third step prioritizes the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor in terms of the committed amount, and invests LP in the master fund. If there are investors
The fourth step is an information providing method characterized in that investment project information that does not include the needs information is provided to the terminal device used by the searched strategic investor. The computer
Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first step of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second step of accepting search requests for
Based on the accepted search conditions, the third step of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth step of providing the extracted investment project information to the terminal device used by the strategic investor, and
And
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which the third step prioritizes the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor at the time of commit, and invests LP in the master fund. If there are investors
The fourth step is an information providing method characterized in that investment project information that does not include the needs information is provided to the terminal device used by the searched strategic investor. Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first process of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second process of accepting search requests for
Based on the accepted search conditions, the third process of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth process of providing the extracted investment project information to the terminal device used by the strategic investor, and
Let the computer run
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
There is an investor who has LP investment in the individual fund, which has priority over the investment project information extracted as the investment project information that matches the search conditions specified by the third process as a strategic investor. case,
The fourth process is an information providing program characterized by providing investment project information that does not include the needs information to the terminal device used by the searched strategic investor. Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first process of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second process of accepting search requests for
Based on the accepted search conditions, the third process of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth process of providing the extracted investment project information to the terminal device used by the strategic investor, and
Let the computer run
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which LP investment is made in the master fund, in which the third process gives priority to the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor in terms of the committed amount. If there are investors
The fourth process is an information providing program characterized by providing investment project information that does not include the needs information to the terminal device used by the searched strategic investor. Used by each individual fund or the asset management company for an investment project database managed by an asset management company that has invested in the GP of multiple individual funds that include at least one of start-up companies, venture companies, and growth companies as investment targets. The first process of acquiring and accumulating investment project information collected by each individual fund, which is input from the terminal device to be used.
Investment project information for which search conditions are specified from a terminal device used by a strategic investor of the master fund who has LP invested in a master fund that invests in LP in the plurality of individual funds based on the investment decision of the asset management company. The second process of accepting search requests for
Based on the accepted search conditions, the third process of searching the investment project database and extracting investment project information that matches the search conditions, and
The fourth process of providing the extracted investment project information to the terminal device used by the strategic investor, and
Let the computer run
The investment project information collected by each individual fund includes needs information that accompanies investment in strategic investors.
Another strategy in which the third process prioritizes the investment project information extracted as investment project information that matches the search conditions specified by a certain strategic investor at the time of commit, and invests LP in the master fund. If there are investors
The fourth process is an information providing program characterized by providing investment project information that does not include the needs information to the terminal device used by the searched strategic investor.

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