“Healthcare New Frontier Fund Impact Report 2018” published Case studies

Healthcare venture Visualizing the social impact

Impact measurement/management   Partnership project with government

The Healthcare New Frontier Fund is a venture capital fund that was established with the aim of extending healthy lives (an initiative being promoted by Kanagawa Prefecture) and resolving social problems by creating new industries in the fields of preventative measures to be taken before people actually become ill, and of cutting-edge medical treatment. SIIF has not only invested in this fund, but it also implements social impact measurements for every venture capital firm investee to support the growth of the investee’s business as well as increases in its corporate value in both social and economic terms. In 2019 we implemented social impact measurements for six new investee companies, and eight existing investee companies, for a total of 14 firms.

Measurement process for this fund

Comments from those involved

Impact Officer
Yuka Ogasawara

2019 represented the second year of our unprecedented attempt to tackle the challenge of conducting social impact measurements for venture capital fund investees and to summarize them in the form of impact reports. In addition to the existing eight investee companies, we created logic models for six new companies, and conducted numerous discussions regarding which social KPIs should be used as targets. What is most pleasing is that we have seen a deeper understanding of the significance of social impact measurement and wider usage of such measurements, not only on the part of the staff of the investee but also among venture capitalists. We will continue to practice this approach so that we are able to provide new benchmarks that measure social value in addition to financial returns.

Impact Officer
Yuka Ogasawara

Investee voices

Emimen Co., Ltd.

In the retirement home industry, which is the area of our company’s operations, we frequently see tragic social problems that arise from a variety of misconceptions. We have developed the business precisely to contribute to the resolution of such problems, but until now we had not applied quantitative metrics to the social value generated by the company. As a result of this process of measurement, I hope that our employees will be able to take even more pride in the business. In addition, by sharing this metric with others outside the company I expect an increase in the number of people who take note of the value provided by our product, and support us, and I also expect it to show which metrics should be used by the industry, and for it to open the way to healthy development.

Rehab for JAPAN Co., Ltd.

Social impact measurement is one of the items on the scorecard we use to execute the business. That is because our mission is “Delivering dreams and inspiration to everybody involved in nursing care,” and because we aim to simultaneously realize both capital value and social value. The former can be measured through accounts such as the income statement and balance sheet, but with regard to the latter we had difficulties with procedures and techniques for measuring social changes and outcomes. The initiatives in question have enabled logical explanations based on the creation of logic models and statistical measurement processes, and I really feel an evolution in the content of the activities themselves. In future, in order to achieve meaningful outcomes on an ongoing basis we will actively engage in external public relations.

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