Presenters: Eric Marcks (southgate) & Anthony Luna (IBM Japan,  JICN
Co-President)

On 25 November 2025, the event co-hosted by Southgate Law (JICN sponsor) and JICN was held at SEGA SAMMY GROUP Headquarters.

Eric Marcks (southgate) and Anthony Luna (IBM Japan & JICN Co-President):

1. Described Core VC structures (convertible debt (SAFE, J-KISS), preferred stock, LP investments) and how early-stage deals are typically shaped.

2. Clarified VC vs. CVC expectations—financial-return driven vs. strategic-value driven.

3. Highlighted key risks: high failure rates, valuation challenges, and follow-on funding demands.

4. Reviewed Japan VC trends and growing focus on AI, software, and biotech.

5. Noted that VC is different from M&A and that VC practice in the US is the global standard and it is therefore essential to choose advisors with real Silicon Valley–style venture experience.

The presentation materials are “executive ready” and you can access them here.  You can also find other useful materials linked below.

The venue was kindly provided by SEGA SAMMY GROUP.  JICN is deeply grateful to Nat Ishida, VP, Executive Officer and their dedicated staff for their kind support as well as the southgate staff.