# National Search Fund

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

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Tokyo, Japan
- **Region:** Asia
- **Address:** Tokyo, Japan
- **Assets under management:** Undisclosed
- **Website:** ns-fund.jp
- **LinkedIn:** https://www.linkedin.com/company/national-search-fund

## Regulatory record

- **Reports private funds:** No

## About

National Search Fund is a Japan-based investment firm aiming to support small and medium-sized businesses that exist in the local community together with new management. The company supports business succession.

## Sectors

- Private Equity
- Search Funds

## Questions

### How does National Search Fund source acquisition targets?

The firm originates proprietary deal flow by identifying aging founder- and family-owned Japanese SMEs without internal successors. Its search model places operators-in-training who spend up to two years sourcing a single acquisition, relying on intermediaries, regional banks, and direct outreach to business owners considering succession.

### Does National Search Fund invest in blind-pool funds or only direct deals?

National Search Fund deploys capital through direct acquisitions. It does not publicly market commingled blind-pool funds. The structure aligns more closely with a sponsored-search model where the firm provides committed equity to individual searchers who identify and close one specific SME transaction.

### What is the firm's geographic scope within Japan?

While headquartered in Tokyo, the firm targets SMEs across Japan, with a preference for regional and local businesses where succession-driven sellers are most concentrated. No specific prefecture-level restrictions have been disclosed.

### What is the typical hold period and exit strategy for an acquired company?

National Search Fund has not disclosed target holding periods. Standard search-fund practice envisions a 5–10 year ownership cycle managed by the operator-owner, with exits via strategic sales, secondary buyouts, or management buybacks, but the firm's stated posture on this question is unavailable.

## Related profiles

- [National Retirement Fund](https://altss.com/profile/national-retirement-fund)
- [National Security Group](https://altss.com/profile/national-security-group)

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Updated: 2026-05-29T10:57:22.327Z

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