freebit investment

Mitsuru Nakayama serves as Representative Director and makes investment decisions personally. Nakayama is the founder and former CEO of FreeBit Co., Ltd., the internet infrastructure company listed on the Tokyo Stock Exchange that provides the underlying capital and operator network for the investment platform.

The firm sources primarily through Nakayama's network of telecom carrier partners, internet service providers, and portfolio company alumni from FreeBit Co., Ltd.'s operating business. FreeBit's relationships with major Japanese broadband and mobile carriers give the investment team early visibility into application-layer startups building on network infrastructure.

It operates as an evergreen venture platform, which sits between those two models. The firm is funded with permanent capital — Nakayama's own wealth — so it does not raise funds from external LPs or operate on a fixed fund cycle. But its investment activity (seed through Series B, sector-focused, board-level engagement) looks more like a venture firm than a passive family office allocation program.

Seed through Series B, with the bulk of activity concentrated at seed and early-stage. The firm's permanent-capital structure allows it to hold positions through later rounds without the exit pressure of a traditional fund, so it occasionally follows on in growth-stage rounds for portfolio companies.

The firm does not invest in deeptech requiring long regulatory approval cycles (pharmaceuticals, medical devices, nuclear), nor in consumer social platforms where network effects depend on markets outside Japan. It concentrates on B2B software and infrastructure-adjacent technology where FreeBit's operating experience provides an edge.

FreeBit Co., Ltd. is the publicly listed internet infrastructure company Mitsuru Nakayama founded and led before launching the investment platform. While freebit investment is a separate entity, it draws its capital from Nakayama's FreeBit-derived wealth and benefits from FreeBit's operating relationships with Japanese telecom carriers and ISPs.

The firm typically leads or co-leads seed rounds and prefers not to participate as a passive co-investor in syndicated deals led by other firms. When it does co-invest, it requires board observer rights or equivalent governance, a condition that reflects Nakayama's operator mindset rather than a passive-portfolio approach to venture allocation.