# Japan Search Fund Accelerator

Japan Search Fund Accelerator is a Private Equity based in Tokyo, Japan.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Tokyo, Japan
- **Region:** Asia
- **Address:** Tokyo, Japan
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** japan-sfa.com
- **LinkedIn:** https://linkedin.com/company/japan-search-fund-accelerator

## Regulatory record

- **Reports private funds:** No

## About

JaSFA is Japan's first search fund support organization (search fund accelerator). It supports SMEs and young people aiming to become company presidents (searchers). It provides end-to-end accompaniment across the search fund process, from investment in searchers through deal search, acquisition consideration, and post-succession management support.

## Sectors

- 中小企業

## People

- 嶋津紀子 — 代表取締役社長
- 嶋津紀子 — 代表取締役社長
- 嶋津創 — 取締役 CIO
- 渡邊謙次 — サーチャー（経営中）
- 丸山翔太 — サーチャー（サーチ中）

## Questions

### What is a search fund, and how does JSFA use the model?

A search fund is an entrepreneurial investment vehicle in which an operator raises a small pool of capital to locate, acquire, and lead a single private company. JSFA recruits and finances these operators — called searchers — through a structured accelerator program, then backs them with acquisition capital once they identify a Japanese SME whose founder is ready to retire. The model was pioneered at Stanford Graduate School of Business in 1984 and has since produced median investor returns exceeding 30% IRR in US and Spanish markets (per Stanford GSB, 2022).

### How does JSFA source its acquisition targets?

JSFA builds relationships with aging business owners through regional banks, local chambers of commerce, and industry associations — years before a formal sale process begins. This proactive, proprietary origination model avoids competitive auctions, which remain rare in Japanese lower-middle-market M&A. The firm also educates retiring owners on the search fund structure as a culturally sensitive alternative to a sale to a large corporation or a competitor.

### What types of companies does JSFA target?

JSFA focuses on profitable Japanese SMEs with ¥100 million to ¥500 million in annual revenue operating in fragmented industries — B2B services, niche manufacturing, industrial distribution, and healthcare services are typical. The firm specifically avoids startups, turnarounds, and technology-dependent businesses, preferring companies with recurring revenue, stable cash flows, and an owner-operator ready to transition out over a negotiated period.

## Related profiles

- [Japan Private Equity](https://altss.com/profile/japan-private-equity)
- [Japan Startup Support Association](https://altss.com/profile/japan-startup-support-association)

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Last updated: 2026-08-11T15:07:12.582Z

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