On Friday, the Nikkei Index posted the biggest point fall in three decades. Last week, the Dow Jones fell by 2,013 points, rose by 1,167, fell by 1,465, and then fell again 2,353. This is the first time in history that the Dow has had 4 four-digit moves, in different directions. And similar events are happening all over the world as Covid-19 puts an unceremonious end to our longest running bull market in history.
It is among this chaos that we are proud to announce we have expanded the team. Kiyoshi Seko will be joining us from Mitsubishi Corporation as a Senior Associate.
In his most recent role, Kiyoshi developed the organizational strategy, budgeting, and performance monitoring for a 200 person division with annual sales of $5 billion. During his tenure, he was responsible for M&A, joint ventures, and partnerships for the company’s food, beverage, and retail businesses across Japan, Southeast Asia, and Australia.
Kiyoshi joins us shortly after receiving his MBA from Spain’s IE Business School, and in the midst of a global pandemic. He is leaving what is essentially one of the most prestigious and stable organizations in Japan to join Coral Capital. This is not only a great honor, but a sign of the shifting perceptions towards entrepreneurship in Japan.
For venture capital firms, the first fund is akin to a startup’s seed round. The second fund is akin to the Series A, the third fund to the Series B, so on and so forth. As a firm progressing toward our third stage, we’ve now expanded the team to 10 people and are well on our way to building a firm that will stand the test of time. Kiyoshi will not only be responsible for sourcing the next generation of founders, but also helping us build a strong operational foundation to support them.
Just as Coral plays a foundational role within the marine ecosystem, our mission is to do the same for the entrepreneurial one. While the global economy contracts, we’re expanding. Because it is in these uncertain times that founders need us most. No matter what happens, it is our responsibility to be the backbone for these smart, ambitious people changing the world. Coral Capital remains open for business.