Gojo & Company closes USD 233m in Series F equity finance & debt finance

Gojo & Company has successfully completed their Series F fundraising with paid-in capital since our establishment in July 2014 reaching JPY 46.5 billion (USD 325 million). Gojo also raised approximately JPY 15.9 billion in debt (including Syndicated Term Loan (with availability period) from six Japanese financial institutions including Sumitomo Mitsui Banking Corporation and Mizuho Bank.

Gojo has completed JPY 17.5 billion (USD 122 million) Series F financing round by September 2024. In March, Gojo raised approximately JPY 5.0 billion from mainly individual investors in Japan through a private placement to professional investors through J-Ships, which is part of this Series F financing.

Gojo was selected as the first equity investment to an unlisted company by crossover funds launched by leading Japanese institutional investors, Asset Management One, and Rheos Capital Works as well as Sumitomo Mitsui Trust Asset Management.

In addition, Gojo welcomes new institutional investors including the International Cooperation and Development Fund, a Taiwanese dedicated official foreign aid organization, Hungchi Capital, a Taiwanese impact venture capital focus on sustainability and climate solutions, HiJoJo Partners, an independent investment management company focusing on domestic and international middle and late stage investments, the impact investment division of Sumitomo Mitsui Trust Bank, Daiwa House Ventures, Fujitsu Ventures, Iwagin Mirai Investment, The San-in Godo Bank, NOW, ABF Capital, as well as individual investors. Gojo also received additional investments from existing shareholders, ACA Investments, MARUI GROUP, CAPITAL X, HFA Capital, QR Investment, 15th Rock Fund II, SAMURAI INCUBATE, GMO VenturePartners, and DIMENSION.

With the cumulative Series F financing amount, Gojo is strengthening its financial foundation, investing in further growth of group companies, particularly in India and Tajikistan, as well as investing in financial service providers in Asia and Africa. As part of this, Gojo announced entry into Africa through an investment in Baobab Group, one of the major pan-African microfinance groups.

Gojo has been working to diversify debt financing methods and optimise funding costs in parallel with equity financing. As a result, Gojo executed JPY 4.0 billion (USD 30 million) Syndicated Term Loan agreements (with availability period) with Sumitomo Mitsui Banking Corporation as arranger and agent, the Hokkoku Bank and Higashi-Nippon Bank as participating banks in March 2024. In April, Gojo also raised JPY 1.0 billion (loan term: 3 years) from Mizuho Venture Debt Fund Investment Limited Partnership managed by Mizuho Capital through the underwriting of unsecured straight bonds. In August, Gojo raised a term loan of JPY 200 million (USD 1.4 million) and a 3-year term from THE BANK OF FUKUOKA.

Gojo directly supports the debt financing of group companies in developing countries through intercompany loans as a use of funds of the loan raised in Japan as well as strengthening the relationship between group companies and lenders by providing numerous types of credit guarantees. In August, a Social Loan of JPY 9.0 billion (USD 60 million) and a 2.5-year loan term was executed by SMBC to Gojo’s group company in India followed by 2023. In September, a term loan of JPY 1.7 billion (USD 20 million) and a 2.5-year loan term was executed by Mizuho Bank to Gojo’s group company in India.

Gojo continues to work on optimising funding costs by pursuing global scale and risk diversification, building strong relationships with Japanese financial institutions and individual investors, and diversifying financing methods.

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