New Horizon Capital

Managing Partners and Co-Founders Atsushi Akaike and Tatsuya Nakano jointly lead investment decisions. Both previously worked at Advantage Partners, one of Japan's earliest independent private equity firms, and bring over two decades of domestic deal experience. Investment committee authority rests with the general partnership.

The firm targets control buyouts, succession-driven transactions, and corporate carve-outs in the Japanese lower middle market. Target companies typically have enterprise values between ¥5 billion and ¥50 billion. The strategy relies heavily on proprietary sourcing driven by Japan's aging business-owner demographics rather than broad auction processes.

The firm cultivates direct relationships with founder-owners of profitable small and medium enterprises who lack internal successors. This relationship-based sourcing is supplemented by carve-out opportunities from larger Japanese corporations. The structural shortage of buyers for these businesses reduces competitive pressure from other sponsors.

Its investment program is overwhelmingly domestic. Portfolio companies are headquartered in Japan, though some operate supply chains or end-markets elsewhere in Asia. The firm does not maintain a multi-country fund mandate.

The firm has raised four flagship buyout vehicles since inception in 2008. The most recent fund held its final close in April 2023. Specific fund sizes and aggregate AUM are not publicly disclosed.

Confirmed investment activity spans enterprise software, manufacturing, logistics technology, human resources technology, and healthcare services. The firm does not explicitly exclude sectors but focuses on industries with recurring succession-driven opportunities.

It is an independent, founder-owned partnership with no parent organization. Atsushi Akaike's board role at the Japan Private Equity Association connects the firm to broader industry governance, but does not indicate institutional affiliation.