Led · Series B · Sep 2022

Ajira develops behavior-recognition AI and commercializes it as the AI security product 'AI Security asilla'. Headquartered in Machida, Tokyo, the company has been selling asilla for about a year with deployments in large commercial and complex facilities, hospitals, educational institutions, railways, airports and other public and private infrastructure. Asilla operates on existing cameras, can process up to 50 camera feeds per server in its enterprise plan, and uses a patented "anomaly detection" approach to identify precursors to incidents. The product provides local, secure 24/7 monitoring and instant notifications (within one second) when abnormal behavior is detected. Planned feature updates include fire/flame detection and unattended-object detection to broaden use cases in facility and transportation security. Financially, Ajira has completed a Series C extension bringing the round to ¥760M to date and has raised ¥1.7B in total funding. Asilla has developed proprietary behavior-recognition AI and sells an AI security system called AI Security asilla that analyzes existing camera feeds to detect abnormal or suspicious behavior. The product can run locally, process up to 50 cameras per server, and uses a patented “discomfort detection” method for early warning; it is deployed in complex facilities, commercial sites, hospitals, educational institutions and transportation infrastructure across Japan. The company emphasizes low initial cost by leveraging existing cameras and a secure, local network architecture to avoid external video leakage. Asilla is expanding its product lineup and sales network to grow revenue by entering markets beyond its traditional customers. Management plans to strengthen the asilla sales organization, continue evolving the core AI technology, and enhance corporate governance to build a scalable business foundation. The company is headquartered in Machida, Tokyo, and is led by CEO Daisuke Kimura. Asilla develops proprietary behavioral-recognition AI for video analytics and has released a facility-targeted AI security system called “Asilla.” The company reports growing deployments in large commercial facilities and office buildings since the product launch this year. It positions the system to address security industry labor shortages and improve safety, and it says it intends to pursue global expansion in the future. Asilla plans to use new capital and partnerships to strengthen its sales channels, advance its behavior-recognition models, and enhance corporate governance. The company was founded on June 1, 2015, and is headquartered in Machida, Tokyo. Reported corporate details include paid-in capital of ¥56,125 thousand.

Participated · Series H · Mar 2021

Stripe is a digital payments platform that processes online payment volume for businesses of all sizes. In its 2024 annual letter the company reported payment volume grew to $1.4 trillion, up 38% year over year. Stripe says it is now used by half of the Fortune 100, showing expansion into major enterprise customers. The margin Stripe makes on transactions remains thin, leaving the business room and need to scale further. The company has not laid out plans to go public and instead provided liquidity to employees via a tender offer while repurchasing shares. That tender sale valued Stripe at $91.5 billion, a rise from a $70 billion secondary a year earlier but below its $95 billion 2021 high-water mark. Stripe provides payments and broader financial infrastructure tools for businesses across sizes and geographies. Founded by Patrick and John Collison in 2010 and Irish‑founded, the company has expanded beyond payments into a widely used suite of financial services. Last year Stripe processed more than $1 trillion in payments for its clients, a 25% year‑on‑year increase, and recorded over 300 million transactions during its busiest four‑day Black Friday period. Irish businesses processed more than €20bn through Stripe, and its client roster includes large enterprises such as Alaska Airlines, Best Buy, Microsoft, Uber and Zara as well as Irish firms. The company is regarded as a leading global fintech and a prominent Irish startup success. The article notes growing investor interest and speculation about a potential IPO. Stripe is a payment-processing company that builds economic infrastructure for businesses. It raised $6.5 billion in a funding round at a $50 billion valuation, down from a $95 billion valuation in 2021. Primary participants included existing shareholders Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital, and new investors GIC, Goldman Sachs Asset and Wealth Management, and Temasek. The funds will be used to provide liquidity to current and former employees and to address employee withholding-tax obligations tied to equity awards; those actions will retire Stripe shares to offset issuance to Series I investors. Stripe said it does not need this capital to run its business. The company is reportedly considering going public within the next year and cut about 14% of its workforce in November. Stripe offers an API-first payments platform used to power online and in-app transactions for a broad range of customers. The company has expanded beyond core payments, investing in startups and forming strategic partnerships as it moves into adjacent areas. Stripe said it will use new capital to invest in product development, further global expansion, and strategic initiatives. The firm reported having $2 billion on its balance sheet, signaling strong liquidity. Stripe has seen accelerated demand as businesses and consumers move transactions online during the pandemic and lists customers such as Zoom, Just Eat, NBC and others. The company remains private and said the raise is intended to enable continued growth rather than to address a cash shortfall. Stripe began as a payments provider offering an API that lets e-commerce businesses integrate payments into apps and websites. In recent years it has expanded into a wider range of financial services and now describes itself as a "Global Payments and Treasury Network." New products include cash advances and corporate cards, alongside services such as incorporation assistance and fraud protection. The company is accelerating international expansion — it recently added payments in eight more countries and plans to reach 40 — and is targeting larger enterprise customers like Wayfair, Airbnb, Twilio, GitHub and The RealReal. Stripe says it processes "hundreds of billions of dollars a year for millions of businesses worldwide." Management says it remains happy being private and is investing for long-term opportunities rather than preparing to go public.

Participated · Equity · Mar 2016

AIG (Africa Internet Group) operates a network of online ventures anchored by e-retailer Jumia and nine other platforms across categories such as hotels (Jovago), fashion (Zando), employment (Everjobs), real estate (Lamudi), and transportation (EasyTaxi). The company has attracted significant capital to scale e-commerce across Africa and tap the continent’s growing consumer market. AIG announced €300 million ($326 million) in new funding from backers including Goldman Sachs and MTN; the package includes a reported €75 million AXA Insurance commitment. CEO Sacha Poignonnec said the financing brings company equity to €1.005 billion ($1.08 billion), clearing the threshold to be considered Africa’s first startup unicorn. The company did not provide a full breakdown of the round. One of AIG’s best-funded assets, Jumia, received over $200 million between 2012 and 2014 and is reported in the article to be valued at $555 billion.

Participated · Equity · Jun 2014

MicroEnsure designs, implements and manages microinsurance products covering life, health, agriculture, assets, accidents and political violence for low- and middle-income consumers. The company partners with mobile network operators, banks, microfinance institutions and other aggregators to distribute products at scale. It is headquartered in the United Kingdom with a regional base in Nairobi and country operations across Africa and Asia. MicroEnsure currently covers more than 7.6 million people, following an 88% increase in clients served in the past five months. The company raised new equity to finance rapid expansion into new markets and to support continued growth of its distribution partnerships.