D4V (Design for Ventures)

D4V (Design for Ventures) is a Tokyo-based early-stage venture capital firm founded in 2016 by Tom Kelley, who is also a partner at IDEO, the globally renowned design consultancy. The firm manages approximately $50 million across two funds, with Fund 2 closing at JPY 5.4 billion. D4V invests at Seed and Series A stages in Japan-focused startups, with initial checks ranging from roughly $140,000 to $1.4 million and follow-on capability. The team is led by Kelley alongside partners Asumi Ota and Fumiaki Nagase. With 74 portfolio companies, D4V has achieved four IPO exits. Notable holdings include ExaWizards (AI, IPO), AirCloset (AI fashion styling, IPO), THECOO (IPO), Ubie (AI healthcare), Cinnamon AI (enterprise AI), CrowdLoan (fintech), and SUN METALON (deep tech). The portfolio spans AI, healthcare, fintech, industrial digitization, entertainment, and e-commerce. D4V's defining feature is its formal integration of IDEO's design methodology into the venture process. Portfolio companies receive hands-on support in human-centered UX/UI, branding, customer experience design, and organizational structure — capabilities that go well beyond what a conventional VC offers. The firm also runs the First Designers community, providing intensive training and networking for startup designers, embedding design thinking as a competitive advantage across the entire portfolio.