D Capital II Series Funds

About D Capital II Series Funds

D Capital II Series Funds is a venture capital firm based in Japan, focusing on Series A stage investments. The fund actively supports founders building innovative solutions in SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionJapan

Funding StageSeries A

Industry Focus

Saas

Investor Signals Profile

active

Sweet Spot

Japan mid-market companies ripe for DX-driven PE transformation

DX × PE

Japan PE

digital transformation

buyout

operational value-add

Bullish Signals

Japan's first DX×PE hybrid fundexternal

Tokyo HQ, 27 employees listedexternal

Top-tier investment + DX professionalsexternal

Field CTO on team — rare PE assetlinkedin

Minami-Aoyama office — premium Tokyo addresslinkedin

Contrarian Signals

Very small team (2–10 employees)external

Low LinkedIn following (256)linkedin

Limited public track record visibleexternal

Founder Do's

Have clear DX transformation angle

Target Japanese mid-market companies

Show operational improvement potential

Bring PE-compatible business model

Engage with field CTO / DX operators

Founder Don'ts

No DX relevance in business

Early-stage VC deals — PE focus only

Non-Japan market focus

Key GPs & Partners

Shunsuke Aihara

Representative Partner

investment professionalPE-focusedDX expert

Masaya Kubota

General Partner

PE investorDX-orientedJapan market

Akira Shibata

Field CTO

CTODX operatortech execution

Masahiro Aoyagi

HR Director

talentPE HRexecutive search

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Fund Overview

Fund Size$445M

Saves0

Website

Key People

Naoto Umezu, Koji Adachi, Tomohide Handa

Shunsuke AiharaRepresentative Partner

Masaya KubotaGeneral Partner

Akira ShibataField CTO

Masahiro AoyagiHR Director