GLIN Impact Capital

Catalyzing systemic change through impact investment.


GLIN Impact Capital is an impact and ESG investment fund on a journey to reimagine capitalism by supporting growth stage social startups in order to allow them to scale further after IPO while keeping their core social mission intact.


With our mission of "reimagining capitalism," we conduct impact and ESG investments in growth stage unlisted companies in Japan and the U.S. that are engaged in businesses that have formed a successful synergy between its social impact and economic returns. We continue to support the growth of our portfolio companies in achieving its mission post-investment. Even after it goes public, we help to build a framework for sustainable growth so our companies can continuously make a positive impact on society.

 

As the first generation investment fund to make impact and ESG investments in unlisted companies, we will continue to share our experience and knowledge with other stakeholders in contribution to cultivating a wider and extensive impact and ESG investment ecosystem for a sustainable future.

What we do? 

Impact/ESG Investments

We make impact/ESG investments in growth stage unlisted companies in Japan and the U.S. that address social issues in Japan (low birth rate, aging society, gender inequality, agriculture/food issues, climate change and environmental issues, mental health issues, educational disparity, etc.). We support our portfolio companies by establishing a structure that will enable them to grow significantly post-IPO, with its social mission intact at the core of their organization.


We will also contribute to the expansion of the impact and ESG investment ecosystem in Japan by accumulating examples of impact and ESG investments in unlisted companies, of which there are only a few examples in Japan, and proactively disclose this information to the public.

Portfolio Companies

Member & Advisor

Masato Nakamura Founding Partner

Masato Nakamura is a founder and Managing Partner of GLIN Impact Capital. Throughout his career at a leading general trading company in Japan, he established new businesses in developing countries (Indonesia), invested in high-growth startups, developed AI and IoT initiatives, and spearheaded digital transformation projects. While studying at Harvard Business School, he served as the President of the Impact Investment Club and worked for the Acumen Fund, a pioneering firm in impact investing. Masato also serves as a member of the investment committee for social entrepreneurs at the Social Innovation and Investment Foundation (SIIF).

Masahiro Hata
Founding Partner

Masahiro Hata, a Founding Partner of GLIN Impact Capital formerly worked at Mitsubishi Corporation, where he was responsible for promotion of new business development. While stationed in Brazil, he restructured a company with a market capitalization of 100 billion yen. Following that experience, he worked at Anzu Partners (US VC) and Japanese VC firms and mainly invested in startup and growth stage firms. In 2018 he enrolled at Harvard Business School to learn more about impact/ESG investing, and upon graduation in 2010 became one of the founders of GLIN Impact Capital. Since then he has served as a project manager for numerous impact/ESG-oriented consulting and advisory engagements and currently serves as the Chairperson of the Impact Oriented Finance Declaration VC working group.

Sadaharu Saiki
Founding Partner

Sadaharu Saiki, a Founding Partner of GLIN Capital formerly worked at Dentsu where he was in charge of overseas marketing for a major automobile company and social impact marketing for a local government. After gaining overseas experience in Bangalore, India, he decided to further his knowledge on impact/ESG investment and economic development business theory at Harvard Business School (HBS). During his time at HBS he worked for Omidyar Network and Kepple Africa Ventures (Kenya) and upon returning to Japan, he was recruited by McKinsey & Company to work on corporate reorganization and new business development related projects. Sadaharu graduated with a distinction from Harvard Business School in 2020.

Yuji Kato
Partner

Yuji Kato, a Partner of GLIN Capital previously worked for the Ministry of Posts and Telecommunications (now the Ministry of Internal Affairs and Communications), the Organisation for Economic Co-operation and Development (OECD, Paris), Morgan Stanley, and Merrill Lynch (London). Notably, he had also served as the Managing Director of GE’s Healthcare Business in Asia, President of Permira Advisors Japan, and Executive Managing Director, COO and CIO of the Cool Japan Organization. In addition, he has contributed to the value creation of portfolio companies through numerous buyout and growth investments. Yuji holds an MBA from Yale University.


 

Hanae Uemura

Ms. Uemura started her career working in developing countries (Myanmar, Moldova, etc.) during her time at Sirius, a trading company that specializes in official development assistance (ODA) where she led projects to improve healthcare as an on-site project manager. She then joined Arthur D. Little, a strategic consulting firm, where she was engaged in drafting mid-term business plans, creation of new businesses, M&A, marketing, R&D, ESG strategy development, and government research.

Yiping Zhang

Ms. Zhang has a wide range of experience in consulting having previously been engaged in strategy planning, business development, new product launch, marketing planning, etc. mainly in the healthcare field. She is currently a Harvard Business School MBA candidate with the Class of 2023.

Yosuke Tamura
Partner

Yosuke Tamura is a Partner of the consulting and advisory arm of GLIN Impact Capital where he is engaged in ESG advisory services for portfolio companies and listed companies. Prior to GLIN Yosuke was a consultant at Ernst & Young (EY) and Accenture with their strategy and consulting services division. Projects he was involved in previously include trade and investment policy planning (including ESG investment in G20 countries), creation of new streams and strategies to attract foreign companies to Tokyo, supporting the launch of Grameen Japan, and providing HR and organizational consulting to private companies with the aim of promoting gender equality. He is currently on a leave of absence from his studies at the MIT Graduate School of Management in the U.S. and IE Graduate School of Management in Spain in order to deepen his knowledge of impact/ESG investment and social businesses.



Professor Shawn Cole, Advisor

Shawn Cole is a professor at Harvard Business School, where he teaches and conducts research on financial services, social enterprise, and impact investing. Before joining the Harvard Business School, Professor Cole worked at the Federal Reserve Bank of New York in the economic research department. He has served on the Boston Federal Reserve's Community Development Research Advisory Council, served as an external advisor to the Gates Foundation, and was the chair of the endowment management committee of the Telluride Association, a non-profit educational organization. He is a cofounder and board chair of a non-profit, Precision Agriculture for Development.

Professor Vikram Gandhi, Advisor

Vikram Gandhi is a Senior Lecturer at Harvard Business School. Vikram is the Founder of Asha Impact, an impact-oriented venture capital firm and is also a Senior Advisor to The Canada Pension Plan Investment Board. He is also a member of the Business Administration Advisory Board at University of the People and a member of the Young Presidents Organization (YPO) since 1997 and has been a part of the New York, Hong Kong and Mumbai chapters. In his vast career, he spent a total of 23 years in investment banking at Morgan Stanley and Credit Suisse.


 

Professor Brian Trelstad, Advisor

Brian Trelstad is a Senior Lecturer at Harvard Business School, where his teaching and research focuses on social entrepreneurship, systems change, impact investing, and the role of business in society. Brian is also a Partner and Board Member at Bridges Fund Management, an impact investing fund that invests in health, education and environmental services business. Prior to Bridges, Brian was the Chief Investment Officer of Acumen, where he oversaw investments in South Asia and Sub-Saharan Africa. Brian is a co-chair of Impact Capital Managers, a national membership association of impact investors in the United States and a founding board member of the Aspen Network of Development Entrepreneurs (ANDE).

Arisa Miyakozawa,
Advisor

Arisa has been involved in research and training projects related to impact investing and philanthropy in Japan and the United States at institutions such as Indiana University School of Philanthropy, the Social Innovation and Investment Foundation (SIIF), the Social Impact Management Initiative (SIMI), and the Sagamore Institute. Previously, she spent eight years in the U.K., where she worked for Storm Research Limited, an independent public equity research firm, conducting research on small and mid cap stocks in Japan. She holds a Bachelor of Business Administration from the University of Nottingham.

Founding Partner, Masato Nakamura will be at the Hague, Netherlands from October 12-13th where he will be a panelist at the GIIN Investor Forum 2022. He will be speaking about the current status and potential of impact investing in Japan as well as on the Impact Oriented Finance Declaration.

Released a press release in September 2022 regarding the successful second closing of GLIN’s initial fund.

A Nikkei Newspaper article from April 2021 on impact investment funds in Japan featured GLIN Impact Capital and comments from its Founding Partner, Masato Nakamura.

On July 2021, Founding Partner Masato Nakamura spoke at the “ESG Investment, Exploring New Trends in the Post-Covid World” conference organized by Nikkei and the Financial Times.

On July 2021, GLIN Impact Capital planned and organized a webinar with the Financial Times titled, “Impact Investing in Publicly Traded Stocks” featuring professionals from BlackRock, Baillie Gifford and current HBS Professors.

On September 2021, GLIN’s Founding Partner, Masato Nakamura participated in a Nikkei webinar titled, “ESG and Sustainability Strategy for Startups and Growth-stage Companies” alongside Raksul CFO Mr. Nagami and Mercari ESG lead, Mr. Tahara.

News & Events

Oct. 2022 Founding Partner, Masato Nakamura will be at the Hague, Netherlands from October 12-13th where he will be a panelist at the GIIN Investor Forum 2022. He will be speaking about the current status and potential of impact investing in Japan as well as on the Impact Oriented Finance Declaration.

Sept. 2022 Released a press release in September 2022 regarding the successful second closing of GLIN’s initial fund.

Sept. 2022 A Harvard Business School Club of Japan webinar featuring Professor Cole, Director of Impact Investing at HBS, and Ms. Tran, Director of Impact Investing & Global Head of Sustainable Investing Research for Fundamental Equities at BlackRock, will be hosted by GLIN Impact Capital’s Nakamura who will moderate the discussion.

Aug. 2022 GLIN Impact Capital was interviewed and an article was written by Spaceship Earth on the origin story of GLIN Impact Capital and its mission.

https://spaceshipearth.jp/glin-impact-capital/

Aug. 2022 GLIN Impact Capital was interviewed for the September 2022 issue of Forbes Japan and was selected as one of the 100 Impact Companies.

https://forbesjapan.com/magazines/detail/140

Jun. 2022 Christina Leijonhufvud, CEO of BlueMark, an internationally renowned third-party verifier of impact investing, the Social Impact Management Initiative and the MUFG Bank will be featured in a webinar titled, "The Era of Impact Accountability: Impact Performance, Reporting and Evaluation Challenges".

https://analyst.simi.or.jp/2022/05/05/bluemark-webinar/

Mar. 2022 GLIN Impact Capital will be speaking at Social Innovation Connect, a social innovation event hosted by SAP at Toranomon CIC where we will participate in a panel discussion on impact investing.

https://socialinnovationconnect-20220317.peatix.com/?fbclid=IwAR2wYRShfa8TdWm9gLimVRNTWMkn7jkQf-rDNRE4qC8OUGqFv_JqIq9QKjo

Feb. 2022 GLIN signed onto the Impact Oriented Finance Declaration and comments from our representatives were recorded.

Jan. 2022 GLIN’s Founding Partner, Nakamura was appointed as a mentor and member of the jury for the Business With Attitude project of Figaro magazine, which supports female entrepreneurs.

Dec. 2021 A webinar titled, "How ESG Investing Will Change the World" was organized featuring a lecture and panel discussion by two leading ESG investment leaders, Professor Gandhi of Harvard University and Professor Honda of Columbia University (former CEO of MIGA of the World Bank).

Dec. 2021 A discussion was held with Ms. Nao Sudo who published "An Introduction to Impact Investing" (Nikkei Bunko) at an event by ImpactShare, an impact investment information site operated by Ms. Sudo and GLIN Impact Capital.

Dec. 2021 Nikkei Financial reported on GLIN and the background of its business launch in an article titled, "Entrepreneurial Spirit Growing at Traditional Schools, Inquiring Deeply into Japanese Companies, Harvard Business School”.

Dec. 2021 GLIN will be featured at an event (held at Shibuya QWS but also available for viewing online), for Japan Crowd Capital, which operates Fundinno, an equity investment crowdfunding company. We will be discussing fundraising for social entrepreneurs and touch upon topics such as Exit to Community, which is one of the exit methods for impact investors.

Nov. 2021 GLIN was interviewed by the Foundation for the Advancement of Social Change (SIIF) and introduced twice in their "Impact Investors to Meet Now" series of articles.

Sept. 2021 GLIN will present on the trend of ESG and sustainable finance in the U.S. and also participate in a panel discussion with Ms. Jiang (WiL) for a webinar titled, "ESG Investment from the U.S. and its Latest Trends" hosted by Nikkei America, Inc. 

Sept. 2021 An event supported by GLIN featuring Harvard Business School Professor, George Serafeim, who is leading the development of Impact Weighted Account, a new accounting method that incorporates impact and sustainability perspectives and is having a major impact on the development of ESG/impact investing.

Aug. 2021 We had an opportunity to hear from Mr. Nagami, CFO of LUXL, and Mr. Tahara, ESG Lead of Mercari, on the topic of "ESG and Sustainability Strategies for Startups and Growth Stage Companies" at a webinar hosted by Nikkei and the Financial Times. In the first half of the video, GLIN Impact Capital explained how startups and growing companies are responding to ESG issues.

Aug. 2021 GLIN organized, facilitated, and spoke at "Global Frontiers of Impact Investing" hosted by Nikkei and the Financial Times, where we heard from global leaders in impact investing and sustainable shareholder proposals including Harvard Business School professors and professionals from BlackRock, Baillie Gifford, Engine No.1, and Bridges Fund Management.

Aug. 2021 GLIN was featured in the Social Venture page of Japan Crowd Capital FUNDINNO.

Aug. 2021 GLIN spoke at an online event hosted by Bloomberg titled, "The Rapidly Growing Trend of Impact Investing: Impact Investing in Domestic Unlisted and Listed Stocks".

Jul. 2021 GLIN held an online event “ESG Investment, Exploring New Trends in the Post-Covid World” along with Nikkei and the Financial Times. GLIN advisors Shawn Cole, Vikram Gandhi, and Brian Trelstad were featured in this panel discussion.

Jul. 2021 At the CIC Tokyo Venture Cafe a video was played featuring an event moderated by GLIN titled, "What is Impact Investing for Resolving Social Issues? How do ESG Investments relate with SDGs and what are the Merits for Startups?”.

Jul. 2021 At the CIC Tokyo Venture Cafe, an event moderated and also featuring GLIN was held titled, "What is Impact Investing for Resolving Social Issues? How do ESG Investments relate with SDGs and what are the Merits for Startups?”.

Jun. 2021 Our advisors Shawn Cole and Vikram Gandhi received the Teaching Recognition Award in Sustainable Finance from the Financial Times.

Jun. 2021 GLIN will be speaking with Unifa and other late & cross-over stage investors at an online event titled, "CEOs and CFOs of Startups Tackling Social Issues Talk with Investors about Major Fundraising".

Jun. 2021 A press release was issued by Unifa regarding GLIN’s investment in Unifa.

May 2021 A press release was issued by Saka No Tochu regarding GLIN’s investment in the company.

Apr. 2021 GLIN spoke at the Tama University Institute for Social Investment Impact Salon titled, "New Trends in Impact Investment: Next Generation Leaders Challenging New Impact Investment Funds".

Apr. 2021 BRIDGE (online blog) published an article about GLIN’s fund formation and impact investments.

Apr. 2021 GLIN and Founding Partner Nakamura's comments were featured in an article on impact investing in the morning edition of the Nikkei newspaper.

Apr. 2021 A Clubhouse session hosted by KIBOW’s Mr. Yamanaka titled, "Impact Investment New Generation! An evening talk show featuring Taka Nakamura and Masato Nakamura, the founders of funds".

Apr. 2021 GLIN spoke at the Clubhouse session "Impact Investment: Brand new funds from Australia & Japan" hosted by Mr. Onozuka, Catalyst Investment Advisors.

Mar. 2021 GLIN was featured in an article for FastGrow's Weekly Noteworthy News.

Mar 2021 An article on the establishment of GLIN was published in PR Times.

Mar 2021 Nikkei Newspaper published an article about GLIN.

Feb. 2021 GLIN spoke at the JEI Ethical Summit Week.

Contact 

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