{"id":1278,"date":"2024-01-07T20:48:16","date_gmt":"2024-01-07T11:48:16","guid":{"rendered":"https:\/\/volante10.com\/?p=1278"},"modified":"2024-01-08T09:15:59","modified_gmt":"2024-01-08T00:15:59","slug":"sports-tech-%e3%82%b9%e3%82%bf%e3%83%bc%e3%83%88%e3%82%a2%e3%83%83%e3%83%97%e3%81%8cn-1%e6%9c%9f%e3%81%ab%e5%ae%9f%e8%a1%8c%e3%81%97%e3%81%9f%e3%82%b7%e3%83%aa%e3%83%bc%e3%82%bad%e8%b3%87%e9%87%91","status":"publish","type":"post","link":"https:\/\/volante10.com\/?p=1278","title":{"rendered":"Sports tech 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href=\"https:\/\/volante10.com\/wp-admin\/post.php?post=1212&amp;action=edit\">\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u7d4c\u55b6\u4f01\u753b\u30fb\u8ca1\u52d9\u30fbIPO\u6e96\u5099\u8cac\u4efb\u8005\u3068\u3057\u3066\u306e100\u65e5\uff01<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1-\u2460\uff1a\u6e96\u5099\u30d5\u30a7\u30fc\u30ba\u2460\uff08\u30b9\u30b1\u30b8\u30e5\u30fc\u30ea\u30f3\u30b0\u30fb\u6295\u8cc7\u5bb6\u30ea\u30b9\u30c8\u30fb\u4e8b\u696d\u8a08\u753b\u7b56\u5b9a\uff09<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/\u6226\u30b3\u30f3\u30fb\u5916\u9280-1024x538.jpg\" alt=\"\" class=\"wp-image-1336\" srcset=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/\u6226\u30b3\u30f3\u30fb\u5916\u9280-1024x538.jpg 1024w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/\u6226\u30b3\u30f3\u30fb\u5916\u9280-300x158.jpg 300w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/\u6226\u30b3\u30f3\u30fb\u5916\u9280-768x403.jpg 768w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/\u6226\u30b3\u30f3\u30fb\u5916\u9280.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\u8cc7\u91d1\u8abf\u9054\u3092\u884c\u3046\u4e0a\u3067\u6700\u521d\u306b\u3084\u308b\u3079\u304d\u3053\u3068\u3068\u3057\u3066\u306f\u3001\u300c\u30b9\u30b1\u30b8\u30e5\u30fc\u30ea\u30f3\u30b0\u300d\u300c\u6295\u8cc7\u5bb6\u5019\u88dc\u30ea\u30b9\u30c8\u30a2\u30c3\u30d7\u300d\u300c\u4e8b\u696d\u8a08\u753b\u7b56\u5b9a\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb<\/h3>\n\n\n\n<p 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class=\"wp-block-list\">\n<li>\uff08PJ\u30b9\u30bf\u30fc\u30c8\uff093\u6708\u30028\uff5e9\u6708\u3053\u308d\u306e\u30af\u30ed\u30fc\u30ba\u3092\u76ee\u6307\u3057\u3066\u3001CFO\u3092\u4e2d\u5fc3\u306b\u4e8b\u696d\u8a08\u753b\u3092\u4f5c\u6210\u958b\u59cb\u3057\u3001\u6295\u8cc7\u5bb6\u3078\u306e\u30bf\u30c3\u30d4\u30f3\u30b0\u3092\u30b9\u30bf\u30fc\u30c8\u3057\u305f\u3068\u306e\u3053\u3068<\/li>\n\n\n\n<li>\uff08\u63a1\u7528\u9762\u63a5\u3068\u5185\u5b9a\uff095\u6708\u3002CFO\u9762\u63a5\u3001\u4ee3\u8868\u9762\u63a5\u3002\u9762\u63a5\u5f8c\u3001\u4e8b\u696d\u69cb\u9020\u306e\u30a4\u30e1\u30fc\u30b8\u3084\u3001\u9762\u63a5\u6642\u306b\u611f\u3058\u305f\u8ab2\u984c\u611f\u3092\u4f1d\u3048\u308b\u305f\u3081\u306b\u30d1\u30ef\u30dd\u3092\u4f5c\u6210\u30fb\u63d0\u51fa\u3002<\/li>\n\n\n\n<li>\uff08\u65e2\u5b58\u6295\u8cc7\u5bb6\u5468\u308a\uff095\u6708\u3002\u65e2\u5b58\u6295\u8cc7\u5bb6\u5468\u308a\u3092\u30b9\u30bf\u30fc\u30c8\u3002\u5185\u5b9a\u5f8c\u3001\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u8cc7\u6599\u306e\u30d6\u30e9\u30c3\u30b7\u30e5\u30a2\u30c3\u30d7\u306b\u7d99\u7d9a\u7684\u306b\u95a2\u4e0e\u3001CFO\u306e\u6295\u8cc7\u5bb6\u5468\u308a\u306b\u53ef\u80fd\u306a\u9650\u308a\u540c\u5e2d<\/li>\n\n\n\n<li>\uff08\u65b0\u898f\u6295\u8cc7\u5bb6\u5468\u308a\uff096\u6708\u3002\u53d6\u7de0\u5f79\u4f1a\u3067\u4e88\u7b97\uff08\u4e8b\u696d\u8a08\u753b\uff09\u306e\u6700\u7d42\u627f\u8a8d\u3002\u65b0\u898f\u6295\u8cc7\u5bb6\u5468\u308a\u3092\u30b9\u30bf\u30fc\u30c8\u3002CFO\u306e\u6295\u8cc7\u5bb6\u5468\u308a\u306b\u53ef\u80fd\u306a\u9650\u308a\u540c\u5e2d<\/li>\n\n\n\n<li>\uff08\u30ea\u30fc\u30c9\u78ba\u5b9a\uff097\u6708\u3002\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\uff08\u65e2\u5b58\u682a\u4e3b\uff09\u306e\u51fa\u8cc7\u5185\u5b9a<\/li>\n\n\n\n<li>\uff08\u5165\u793e\uff098\u6708\u3002\u5165\u793e\u3002\u6295\u8cc7\u5bb6\u5468\u308a\u3068\u6295\u8cc7\u5bb6\u8cea\u554f\u30fbDD\u5bfe\u5fdc\u3002\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u306e\u6295\u8cc7\u59d4\u54e1\u4f1a\u3067\u51fa\u8cc7\u6c7a\u5b9a\u3002<\/li>\n\n\n\n<li>\uff08\u5165\u793e\u5f8c\uff099\u6708\u3002\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u306e\u6295\u8cc7\u5b9f\u884c\u3002\u65e2\u5b58\u682a\u4e3b\u8907\u6570\u793e\u306e\u6295\u8cc7\u59d4\u54e1\u4f1a\u3067\u6761\u4ef6\u4ed8\u304d\u51fa\u8cc7\u6c7a\u5b9a\u3002<\/li>\n\n\n\n<li>\uff08\u5165\u793e\u5f8c\uff0910\u6708\u3002\u65b0\u898f\u6295\u8cc7\u5bb6\u8907\u6570\u793e\u306e\u51fa\u8cc7\u6c7a\u5b9a\u3002\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u306e\u6295\u8cc7\u5b9f\u884c\u30fb\u30af\u30ed\u30fc\u30ba<\/li>\n<\/ul>\n\n\n\n<p>\u4eca\u56de\u306e\u30b7\u30ea\u30fc\u30baD\u306f\u30013\u6708\u306b\u4e8b\u696d\u8a08\u753b\u4f5c\u6210\u3092\u958b\u59cb\u300110\u6708\u306b\u30af\u30ed\u30fc\u30ba\u3068\u3001\u7d50\u679c\u7684\u306b\u7d047\u30f6\u6708\u306ePJ\u3068\u306a\u308a\u307e\u3057\u305f\uff08\u307c\u304f\u306f5\u6708\u306e\u9762\u63a5\u30fb\u5185\u5b9a\u5f8c\u304b\u3089\u30b7\u30ea\u30fc\u30baD\u306b\u95a2\u4e0e\u3055\u305b\u3066\u3082\u3089\u3044\u307e\u3057\u305f\uff09\u3002<\/p>\n\n\n\n<p>\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u306f\u30c6\u30c3\u30af\u4f01\u696d\u306eIPO\u306e\u4f8b\u306b\u6f0f\u308c\u305a\u3001\u4eca\u671f\u3082\u8d64\u5b57\u306e\u4e8b\u696d\u8a08\u753b\u3092\u66f8\u3044\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u5358\u4e00\u4e8b\u696d\u3067\u306f\u306a\u304f\u8907\u6570\u4e8b\u696d\u3092\u4e26\u884c\u3057\u3066\u884c\u3063\u3066\u3044\u308b\u30b3\u30f3\u30d1\u30a6\u30f3\u30c9\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3067\u3042\u308a\u3001\u4eba\u6750\u3084\u958b\u767a\u3078\u306e\u6295\u8cc7\u304c\u5148\u884c\u3057\u3066\u3044\u3066\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u304c\u7279\u306b\u91cd\u8981\u3067\u3042\u308b\u3053\u3068\u306f\u30a4\u30e1\u30fc\u30b8\u3057\u3066\u3044\u305f\u3060\u3051\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3001\u76ee\u6a19\u8abf\u9054\u984d\u306e\u7b87\u6240\u3067\u8a73\u8ff0\u3057\u307e\u3059\u304c\u30012023\u5e74\u3082\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u8cc7\u91d1\u8abf\u9054\u74b0\u5883\u304c\u51b7\u3048\u8fbc\u3093\u3067\u3044\u308b\u4e2d\u300110\u6708\u307e\u3067\u306b\u30d9\u30fc\u30b9\u30e9\u30a4\u30f3\u3068\u3057\u3066\u3044\u305f\u76ee\u6a19\u8abf\u9054\u984d\u3092\u30a8\u30af\u30a4\u30c6\u30a3\u306e\u307f\u3067\u7372\u5f97\u3067\u304d\u305f\u306e\u306f\u3001\u30e9\u30f3\u30a6\u30a7\u30a4\u3068\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u3092\u610f\u8b58\u3057\u305f\u6d3b\u52d5\u304c\u3042\u3063\u305f\u304b\u3089\u3067\u3001\u5165\u793e\u76f4\u5f8c\u306b\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u91cd\u8981\u6027\u3092\u5f37\u304f\u611f\u3058\u305f\u51fa\u6765\u4e8b\u3067\u3082\u3042\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6295\u8cc7\u5bb6\u5019\u88dc\u30ea\u30b9\u30c8\u30a2\u30c3\u30d7<\/h3>\n\n\n\n<p>\u65e2\u5b58\u6295\u8cc7\u5bb6\u304c\u3044\u308b\u5834\u5408\u306b\u306f\u3001\u65e2\u5b58\u6295\u8cc7\u5bb6\u306e\u8ffd\u52a0\u6295\u8cc7\u304c\u3042\u308b\u304b\u306a\u3044\u304b\u3067\u30e9\u30a6\u30f3\u30c9\u306e\u96e3\u6613\u5ea6\u304c\u5927\u304d\u304f\u5909\u308f\u3063\u3066\u304f\u308b\u305f\u3081\u3001\u30e9\u30a6\u30f3\u30c9\u306e\u521d\u671f\u6bb5\u968e\u3067\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u53d6\u3063\u3066\u304a\u304f\u306e\u304c\u30bb\u30aa\u30ea\u30fc\u3067\u3059\u3002\u30e9\u30a6\u30f3\u30c9\u306e\u521d\u671f\u6bb5\u968e\u3067\u65e2\u5b58\u6295\u8cc7\u5bb6\u304b\u3089\u8ffd\u52a0\u6295\u8cc7\u306e\u30b3\u30df\u30c3\u30c8\u3092\u5f15\u304d\u51fa\u3057\u3001\u305d\u308c\u3092\u6301\u3063\u3066\u65b0\u898f\u6295\u8cc7\u5bb6\u3078\u306e\u5f53\u305f\u3063\u3066\u3044\u3051\u308c\u3070\u826f\u3044\u6d41\u308c\u3067\u6d3b\u52d5\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u305f\u3081\u3001\u6295\u8cc7\u5bb6\u5019\u88dc\u30ea\u30b9\u30c8\u4f5c\u6210\u3084\u30b3\u30f3\u30bf\u30af\u30c8\u306b\u3064\u3044\u3066\u306f\u3001\u4ee5\u4e0b\u306e\u91cd\u307f\u3065\u3051\u3067\u884c\u3046\u306e\u304c\u3044\u3044\u3068\u611f\u3058\u3066\u3044\u307e\u3059\u3002<br>\u3000\u2460\u65e2\u5b58\u682a\u4e3b<br>\u3000\u2461\u524d\u56de\u30e9\u30a6\u30f3\u30c9\u304c\u3042\u308b\u5834\u5408\u306b\u306f\u30b3\u30f3\u30bf\u30af\u30c8\u304c\u3042\u3063\u305f\u6295\u8cc7\u5bb6<br>\u3000\u2462\u65b0\u898f\u6295\u8cc7\u5bb6<\/p>\n\n\n\n<p>\u65b0\u898f\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30c8\u30a2\u30c3\u30d7\u3084\u30b3\u30f3\u30bf\u30af\u30c8\u306b\u3064\u3044\u3066\u306f\u3001VC\u304c\u63b2\u8f09\u3055\u308c\u3066\u3044\u308bWeb Site\u3092\u30c1\u30a7\u30c3\u30af\u3057\u3066\u3044\u304f\u306e\u304c\u3001\u4e00\u822c\u7684\u304b\u3068\u601d\u3044\u307e\u3059\u3002<br><a href=\"https:\/\/jvca.jp\/members\/vc-members\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>VC\u4f1a\u54e1 &#8211; \u4e00\u822c\u793e\u56e3\u6cd5\u4eba\u65e5\u672c\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u5354\u4f1a<\/strong><\/a><\/p>\n\n\n\n<p>\u307e\u305f\u3001\u500b\u4eba\u7684\u306b\u306f\u3001\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u8cc7\u91d1\u8abf\u9054\u696d\u52d9\u306e\u52b9\u7387\u5316\u3092\u3057\u3066\u304f\u308c\u308b\u30b9\u30de\u30fc\u30c8\u30e9\u30a6\u30f3\u30c9\u3068\u3044\u3046\u30b5\u30fc\u30d3\u30b9\u304c\u30aa\u30b9\u30b9\u30e1\u3067\u3059\u3002\u6295\u8cc7\u5bb6\u5019\u88dc\u30ea\u30b9\u30c8\u304c\u3042\u3063\u3066\u3001\u30e1\u30fc\u30eb\u3067\u306f\u306a\u304f\u3001\u6700\u521d\u304b\u3089\u30c1\u30e3\u30c3\u30c8\u5f62\u5f0f\u3067\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u304c\u53d6\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u4fbf\u5229\u3067\u3059\u3002<br><a href=\"https:\/\/jp.smartround.com\/\" title=\"smartround\"><strong>smartround<\/strong><\/a><\/p>\n\n\n\n<p id=\"87194c0c-4f5a-4197-b17d-d32dd753418b\">\u305d\u306e\u307b\u304b\u3001\u6295\u8cc7\u5bb6\u3068\u306e\u30b3\u30f3\u30bf\u30af\u30c8\u306e\u624b\u6cd5\u306b\u3064\u3044\u3066\u306f\u3001X\uff08\u65e7Twitter\uff09\u306a\u3069\u306eSNS\u3067\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u304c\u767a\u4fe1\u3057\u3066\u3044\u305f\u308a\u3059\u308b\u306e\u3067\u3001\u305d\u306e\u30dd\u30b9\u30c8\u5185\u5bb9\u3084\u96f0\u56f2\u6c17\u3001\u76f8\u6027\u306a\u3069\u3092\u898b\u3066\u307f\u308b\u306e\u3082\u30a2\u30ea\u304b\u3068\u601d\u3044\u307e\u3059\u3057\u3001\u76f4\u63a5\u9023\u7d61\u3057\u3066\u307f\u308b\u306e\u3082\u624b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p 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id=\"8331f216-6674-4fc4-a393-126162875eb9\">\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u306e\u30b7\u30ea\u30fc\u30baD\u3067\u306f\u3001\u65e2\u5b58\u682a\u4e3b\u3084\u524d\u56de\u30e9\u30a6\u30f3\u30c9\u307e\u3067\u306b\u30b3\u30f3\u30bf\u30af\u30c8\u304c\u3042\u3063\u305f\u6295\u8cc7\u5bb6\u306b\u512a\u5148\u7684\u306b\u3042\u305f\u308a\u8abf\u9054\u53ef\u80fd\u6027\u3092\u898b\u6975\u3081\u3064\u3064\u3001\u65b0\u898f\u6295\u8cc7\u5bb6\u3078\u30b3\u30f3\u30bf\u30af\u30c8\u3092\u884c\u3044\u307e\u3057\u305f\u3002\u65e2\u5b58\u682a\u4e3b\u3084\u524d\u56de\u307e\u3067\u306b\u30b3\u30f3\u30bf\u30af\u30c8\u304c\u3042\u3063\u305f\u6295\u8cc7\u5bb6\u306730\u5f31\u3001\u65b0\u898f\u6295\u8cc7\u5bb6\u306720\u5f31\u3001\u8a0850\u5f31\u306e\u6295\u8cc7\u5bb6\u3068\u30b3\u30f3\u30bf\u30af\u30c8\u3057\u305f\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u65b0\u898f\u6295\u8cc7\u5bb6\u3078\u306e\u30a2\u30bf\u30c3\u30af\u306b\u3064\u3044\u3066\u306f\u3001\u65e2\u5b58\u6295\u8cc7\u5bb6\u304b\u3089\u306e\u7d39\u4ecb\u3084\u7d4c\u55b6\u9663\u306e\u7e4b\u304c\u308a\u304b\u3089\u30b3\u30f3\u30bf\u30af\u30c8\u3092\u53d6\u3063\u305f\u306e\u304c\u307b\u3068\u3093\u3069\u3067\u3001\u6700\u7d42\u7684\u306b\u3054\u51fa\u8cc7\u3044\u305f\u3060\u3051\u308b\u307e\u3067\u306b\u9b45\u529b\u3092\u4f1d\u3048\u304d\u308c\u305a\u306b\u7d42\u308f\u3063\u3066\u3057\u307e\u3044\u307e\u3057\u305f\u304c\u3001\u3084\u306f\u308a\u7d39\u4ecb\u304b\u3089\u306e\u30b3\u30f3\u30bf\u30af\u30c8\u306f\u6bd4\u8f03\u7684\u8a71\u3092\u805e\u3044\u3066\u3082\u3089\u3044\u3084\u3059\u304b\u3063\u305f\u3068\u3044\u3046\u5370\u8c61\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u305f\u3081\u3001\u65e2\u5b58\u682a\u4e3b\u304b\u3089\u306e\u8ffd\u52a0\u51fa\u8cc7\u4ea4\u6e09\u306f\u3082\u3061\u308d\u3093\u3001\u8ffd\u52a0\u51fa\u8cc7\u306f\u96e3\u3057\u304f\u3066\u3082\u6a2a\u306e\u7e4b\u304c\u308a\u3067\u65b0\u898f\u6295\u8cc7\u5bb6\u5019\u88dc\u3092\u7d39\u4ecb\u3044\u305f\u3060\u304f\u3068\u3044\u3046\u3053\u3068\u3092\u5fd8\u308c\u305a\u6020\u3089\u305a\u306b\u3084\u308b\u3068\u3044\u3046\u3053\u3068\u3082\u91cd\u8981\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"d9968fa2-be13-4f9d-9552-9d0c173d815b\">\u4e8b\u696d\u8a08\u753b\u7b56\u5b9a<\/h3>\n\n\n\n<p>\u8cc7\u91d1\u8abf\u9054\u3067\u4e00\u756a\u91cd\u8981\u306a\u306e\u306f\u78ba\u56fa\u305f\u308b\u4e8b\u696d\u8a08\u753b\u3092\u7b56\u5b9a\u3059\u308b\u3053\u3068\u3060\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e8b\u696d\u8a08\u753b\u7b56\u5b9a\u306b\u3064\u3044\u3066\u306f\u3001\u65e2\u5b58\u6295\u8cc7\u5bb6\u304c\u3044\u308b\u306e\u3067\u3042\u308c\u3070\u6700\u5927\u9650\u305d\u306e\u529b\u3092\u501f\u308a\u307e\u3057\u3087\u3046\u3002\u7a4d\u6975\u7684\u306b\u58c1\u6253\u3061\u3057\u3066\u3082\u3089\u3046\u3053\u3068\u3067\u30d6\u30e9\u30c3\u30b7\u30e5\u30a2\u30c3\u30d7\u3067\u304d\u307e\u3059\u3057\u3001\u6295\u8cc7\u5bb6\u76ee\u7dda\u3067\u523a\u3055\u308a\u305d\u3046\u306a\u30dd\u30a4\u30f3\u30c8\u3084\u9006\u306b\u7a81\u3063\u8fbc\u307e\u308c\u305d\u3046\u306a\u30dd\u30a4\u30f3\u30c8\u3092\u8cc7\u6599\u306b\u843d\u3068\u3057\u8fbc\u3093\u3067\u304a\u304d\u305f\u3044\u3068\u3053\u308d\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u4e8b\u696d\u8a08\u753b\u306f\u3001\u2460PL\u306f\u3001\u58f2\u4e0a\u3084\u5404\u6bb5\u968e\u5229\u76ca\u3060\u3051\u3067\u306a\u304f\u3001KPI\u304b\u3089\u7a4d\u307f\u4e0a\u3052\u3066\u4f5c\u6210\u3057\u3066\u3044\u308b\u65b9\u304c\u3044\u3044\u3067\u3059\u3057\u3001\u2461PL\u3060\u3051\u3067\u306a\u304f\u3001\u4e09\u8868\u9023\u52d5\u3067BS\u3068CF\u3082\u4f5c\u6210\u3057\u3066\u304a\u304f\u65b9\u304c\u3088\u308a\u671b\u307e\u3057\u3044\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u70b9\u3001\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u306e\u4e8b\u696d\u8a08\u753b\u306e\u305f\u305f\u304d\u53f0\u306f\u3001\u307b\u307c\u3059\u3079\u3066\u306e\u65e2\u5b58\u6295\u8cc7\u5bb6\u304b\u3089\u6307\u6458\u3055\u308c\u305f\u3053\u3068\u3067\u3059\u304c\u3001PL\u306e\u307f\u306e\u8a08\u753b\u3067\u304b\u3064KPI\u304c\u7684\u78ba\u306b\u843d\u3068\u3057\u8fbc\u3081\u3066\u3044\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u7279\u306b\u3001\u2460\u306b\u3064\u3044\u3066\u306f\u3001KPI\u304c\u898b\u3048\u306b\u304f\u304f\u306a\u3063\u3066\u3044\u305f\u3053\u3068\uff08\u3055\u3089\u306b\u30d5\u30a7\u30fc\u30ba\u304c\u9032\u3080\u3053\u3068\u306b\u3088\u3063\u3066\u4eca\u5f8c\u306f\u53d6\u7de0\u5f79\u4f1a\u7b49\u3067\u3082KPI\u3092\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u3057\u3066\u3044\u304f\u5fc5\u8981\u304c\u3042\u308b\u3068\u601d\u3044\uff09\u3084\u3001\u904e\u53bb\u306e\u4e8b\u696d\u8a08\u753b\u3067\u306f\u5b9f\u7e3e\u3068\u306e\u4e56\u96e2\u304c\u767a\u751f\u3057\u3066\u3044\u3066\u4f55\u304c\u8db3\u308a\u3066\u3044\u306a\u3044\u306e\u304b\u304c\u5206\u304b\u308a\u306b\u304f\u304b\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u58f2\u4e0a\u69cb\u9020\u3084KPI\u3068\u306e\u9023\u52d5\u3092\u660e\u78ba\u306b\u3057\u3066\u63a8\u79fb\u3092\u8ffd\u3048\u308b\u3088\u3046\u306b\u3001KPI\u304b\u3089\u7a4d\u307f\u4e0a\u3052\u3067\u4f5c\u308a\u76f4\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u2461\u306b\u3064\u3044\u3066\u306f\u3001\u696d\u7e3e\u3060\u3051\u3067\u306a\u304f\u4e09\u8868\u9023\u52d5\u306e\u65b9\u304c\u72b6\u614b\u3092\u3088\u308a\u7684\u78ba\u306b\u628a\u63e1\u3067\u304d\u308b\u3053\u3068\u3084\u3001\u4e0a\u8ff0\u306e\u3088\u3046\u306b\u8d64\u5b57\u4f01\u696d\u3067\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u4e88\u6e2c\u304c\u6700\u91cd\u8981\u4e8b\u9805\u306a\u306e\u3067\u3001\u4e09\u8868\u9023\u52d5\u306b\u7d44\u307f\u66ff\u3048\u3066\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u8ca1\u52d9\u72b6\u6cc1\u304c\u9023\u52d5\u3057\u3066\u5c06\u6765\u4e88\u6e2c\u304c\u3067\u304d\u308b\u3088\u3046\u306b\u4fee\u6b63\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3069\u3053\u307e\u3067\u4f5c\u308a\u3053\u3080\u304b\u306f\u30d5\u30a7\u30fc\u30ba\u306b\u3088\u308b\u90e8\u5206\u3082\u5927\u304d\u3044\u304b\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u300e\u6295\u8cc7\u5bb6\u76ee\u7dda\u3067\u4f5c\u308b\u3053\u3068\u300f\u300e\u4e8b\u696d\u306e\u72b6\u6cc1\u306b\u3088\u3063\u3066\u5fc5\u8981\u306a\u3082\u306e\u304c\u5909\u308f\u308b\u3053\u3068\u300f\u306e\u91cd\u8981\u6027\u3092\u8a8d\u8b58\u3057\u305f\u5f62\u306b\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1-\u2461\uff1a\u6e96\u5099\u30d5\u30a7\u30fc\u30ba\u2461\uff08Valuation\u30fb\u8abf\u9054\u76ee\u6a19\u984d\u30fb\u30bf\u30c3\u30d4\u30f3\u30b0\uff09<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/finance-1024x768.jpeg\" alt=\"\" class=\"wp-image-1337\" style=\"width:727px;height:auto\" srcset=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/finance-1024x768.jpeg 1024w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/finance-300x225.jpeg 300w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/finance-768x576.jpeg 768w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/finance.jpeg 1380w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\u4e8b\u696d\u8a08\u753b\u7b56\u5b9a\u306b\u76ee\u9014\u304c\u3064\u3044\u305f\u3089\u3001\u300cvaluation\u300d\u300c\u76ee\u6a19\u8abf\u9054\u984d\u300d\u300c\u6295\u8cc7\u5bb6\u30bf\u30c3\u30d4\u30f3\u30b0\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Valuation<\/h3>\n\n\n\n<p id=\"73032d4d-e53c-4097-a2be-6d5b1f311094\">Valuation\u3068\u3044\u3063\u3066\u3082\u3001\u7d76\u5bfe\u57fa\u6e96\u3068\u76f8\u5bfe\u57fa\u6e96\u304c\u3042\u308a\u3001\u524d\u8005\uff08Pre-money\u3001Post-money\u304c\u3044\u304f\u3089\u3060\u3063\u305f\u304b\uff09\u306b\u3064\u3044\u3066\u306f\u3001<a href=\"https:\/\/initial.inc\/companies\/A-17062\" target=\"_blank\" rel=\"noopener\" title=\"\">Initial<\/a>\u3084\u767b\u8a18\u7c3f\u8b04\u672c\u3067\u628a\u63e1\u3067\u304d\u307e\u3059\u3057\u3001\u5f8c\u8005\u306b\u3064\u3044\u3066\u306f\u3001\u30c8\u30e9\u30af\u30b7\u30e7\u30f3\u3084\u4e8b\u696d\u8a08\u753b\u3001\u30de\u30eb\u30c1\u30d7\u30eb\u3092\u53c2\u8003\u306b\u7b97\u51fa\u3055\u308c\u308b\u3082\u306e\u3067\u3001\u8cc7\u91d1\u8abf\u9054\u6642\u306e\u6700\u5927\u306e\u95a2\u5fc3\u4e8b\u306e1\u3064\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305a\u3001\u81ea\u793e\u3067\u8003\u3048\u308b\u8a55\u4fa1\u3001\u3064\u307e\u308a\u76ee\u6a19\u8abf\u9054\u984d\u3068\u671b\u307e\u3057\u3044\u7a00\u8584\u5316\u7387\u306b\u7d10\u3065\u304f\u5e0c\u671b\u7684\u306aValuation\u306b\u3064\u3044\u3066\u306f\u3059\u3050\u306b\u51fa\u305b\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001\u6295\u8cc7\u5bb6\u5019\u88dc\u306f\u3001\u6295\u8cc7\u5b9f\u884c\u6642\u306eValuation\u304c\u3001\u5c06\u6765\u4e0a\u5834\u3057\u305f\u6642\u306e\u6642\u4fa1\u7dcf\u984d\u3067\u5f97\u3089\u308c\u308b\u30ea\u30bf\u30fc\u30f3\u304b\u3089\u9006\u7b97\u3057\u3066\u6975\u7aef\u306a\u5272\u9ad8\u611f\u304c\u306a\u3044\u304b\u3092\u898b\u3066\u3044\u308b\u305f\u3081\u3001\u5e02\u5834\u306b\u304a\u3051\u308b\u8a55\u4fa1\u306b\u3064\u3044\u3066\u306f\u3001\u81ea\u793e\u3067\u8003\u3048\u308b\u5e0c\u671b\u7684\u8a55\u4fa1\u3088\u308a\u3082\u4f4e\u3044\u3053\u3068\u304c\u307b\u3068\u3093\u3069\u3067\u3059\u3002<\/p>\n\n\n\n<p id=\"9f355427-4a17-4a89-9683-8ea413aead05\">\u305d\u306e\u305f\u3081\u3001\u81ea\u793e\u3067\u8003\u3048\u308b\u8a55\u4fa1\u3068\u5e02\u5834\u306b\u304a\u3051\u308b\u8a55\u4fa1\u306b\u306f\u30ba\u30ec\u304c\u3042\u308a\u307e\u3059\u3057\u3001\u3042\u3093\u307e\u308a\u6b32\u5f35\u308a\u3059\u304e\u308b\u3068\u6295\u8cc7\u5bb6\u304c\u3064\u3044\u3066\u304f\u308c\u305a\u306b\u5145\u5206\u306a\u5897\u8cc7\u304c\u3067\u304d\u306a\u3044\u305f\u3081\u3001\u4e8b\u696d\u3092\u4f38\u3070\u3059\u3053\u3068\u304c\u3067\u304d\u305a\u3001\u7d50\u679c\u3068\u3057\u3066\u5c06\u6765\u306b\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u305b\u3056\u308b\u3092\u5f97\u306a\u3044\u72b6\u6cc1\u304c\u5f85\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u3053\u306eGap\u3092\u3069\u3046\u8abf\u6574\u3059\u308b\u304b\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3001\u5e0c\u671b\u7684\u306aValuation\u3092\u6301\u3064\u3053\u3068\u306e\u307b\u304b\u306b\u3001\u985e\u4f3c\u4e0a\u5834\u4f1a\u793e\u306e\u30de\u30eb\u30c1\u30d7\u30eb\u3084\u30c8\u30e9\u30af\u30b7\u30e7\u30f3\u3084\u5408\u7406\u7684\u306a\u8a08\u753b\u6307\u6a19\u7b49\u306e\u6839\u62e0\u306b\u57fa\u3065\u304f\uff08\u7b2c\u4e09\u8005\u306b\u5bfe\u3057\u3066\u3082\u4e00\u5b9a\u306e\u8aac\u5f97\u529b\u3092\u6709\u3059\u308b\uff09Fair Value \u3092\u7b97\u51fa\u3057\u3066\u304a\u304f\u3053\u3068\u3082\u4e0d\u53ef\u6b20\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>IPO\u306b\u5411\u3051\u4e3b\u5e79\u4e8b\u8a3c\u5238\u5019\u88dc\u304c\u6c7a\u307e\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u4e8b\u696d\u8a08\u753b\u3092\u5171\u6709\u3057\u305f\u3046\u3048\u3067\u300c\u73fe\u5728\u306e\u5e02\u6cc1\u3067\u4e0a\u5834\u3057\u305f\u3089\u3069\u308c\u304f\u3089\u3044\u306e\u6642\u4fa1\u7dcf\u984d\u304c\u4ed8\u304f\u304b\uff1f\u300d\u300c\u30b3\u30f3\u30d7\u30b9\u306f\u3069\u3053\u304b\uff1f\u300d\u306a\u3069\u306e\u60c5\u5831\u3092\u8cb0\u3044\u3001\u30c7\u30a3\u30b9\u30ab\u30c3\u30b7\u30e7\u30f3\u3092\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002\u5c06\u6765\u306e\u7b97\u51fa\u306e\u30d7\u30ec\u304c\u3067\u304d\u308b\u306e\u3067\u4e3b\u5e79\u4e8b\u5019\u88dc\u306b\u3068\u3063\u3066\u3082\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308b\u306f\u305a\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u65e2\u5b58\u682a\u4e3b\u306b\u3001\u3069\u308c\u304f\u3089\u3044\u306eValuation\u306a\u3089\u51fa\u8cc7\u9802\u3051\u305d\u3046\u304b\u3001\u7406\u7531\u3084\u80cc\u666f\u3068\u3068\u3082\u306b\u805e\u3044\u3066\u307f\u308b\u306e\u3082\u52b9\u679c\u7684\u3067\u3059\u3002\u52a0\u3048\u3066\u3001\u985e\u4f3c\u4e0a\u5834\u4f1a\u793e\u306eIR\uff08Investor Relations\uff09\u8cc7\u6599\u3082\u3001Equity Story\u306e\u30d2\u30f3\u30c8\u306b\u306a\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p id=\"52036571-23f6-4585-97e4-b9ed86c594e3\">\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u306eValuation\u306b\u3064\u3044\u3066\u306f\u3001\u7b2c\u4e09\u8005\u6a5f\u95a2\u306b\u3088\u308b\u682a\u4fa1\u7b97\u5b9a\u306e\u307b\u304b\u3001\u4e3b\u5e79\u4e8b\u8a3c\u5238\u5019\u88dc\u306b\u3088\u308bvaluation\u306b\u95a2\u3059\u308b\u53c2\u8003\u8cc7\u6599\u3092\u30d9\u30fc\u30b9\u3068\u3057\u3001\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u3068\u306e\u9593\u3067\u56fa\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u305f\u306e\u3067\u3001\u5e78\u3044\u306b\u3082\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u305b\u305a\u306b\u8abf\u9054\u304c\u3067\u304d\u307e\u3057\u305f\u3002\u6b8b\u5ff5\u306a\u304c\u3089\u5b88\u79d8\u7fa9\u52d9\u3084\u6295\u8cc7\u5bb6\u3068\u306e\u95a2\u4fc2\u4e0a\u3001\u8a73\u7d30\u306b\u304a\u4f1d\u3048\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u304c\u3001\u30b7\u30ea\u30fc\u30baD\u306b\u3054\u53c2\u52a0\u9802\u3044\u305f\u6295\u8cc7\u5bb6\u306e\u7686\u69d8\u304b\u3089\u306f\u9069\u5207\u306a\u8a55\u4fa1\u3092\u3044\u305f\u3060\u3051\u305f\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u76ee\u6a19\u8abf\u9054\u984d\u306e\u6c7a\u5b9a<\/h3>\n\n\n\n<p id=\"96d6cc60-d851-47fb-b195-aa8f301ed8f1\">Valuation\u304c\u3056\u3063\u304f\u308a\u6c7a\u307e\u308c\u3070\u3001\u6b21\u306f\u8abf\u9054\u984d\u306e\u691c\u8a0e\u3067\u3059\u3002<\/p>\n\n\n\n<p id=\"96d6cc60-d851-47fb-b195-aa8f301ed8f1\">\u3053\u308c\u306f\u4e8b\u696d\u8a08\u753b\u3068\u3082\u5bc6\u63a5\u306b\u95a2\u9023\u3057\u307e\u3059\u3057\u3001Cap Table Simulation\u3082\u5fc5\u8981\u4e0d\u53ef\u6b20\u3067\u3059\u3002\u21e7\u3067\u5c0e\u304d\u51fa\u3055\u308c\u308bValuation\u306b\u5bfe\u3057\u3066\u76ee\u6a19\u8abf\u9054\u984d\u304c\u904e\u5927\u306a\u5834\u5408\u306b\u306f\u3001\u5f53\u7136\u3067\u3059\u304c\u5927\u5e45\u306b\u30c0\u30a4\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u3001\u6b21\u56de\u306e\u8abf\u9054\u6642\u306b\u652f\u969c\u3092\u6765\u305f\u3057\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001\u6700\u60aa\u306a\u306e\u306f\u76ee\u6a19\u8abf\u9054\u984d\u3092\u904e\u5c11\u306b\u898b\u7a4d\u3082\u308b\u3068\u3001\u6b21\u306e\u8cc7\u91d1\u8abf\u9054\u30b5\u30a4\u30af\u30eb\u304c\u65e9\u307e\u308b\u305f\u3081\u3001\u4e8b\u696d\u306b\u5f71\u97ff\u304c\u51fa\u3066\u3057\u307e\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3001\u307c\u304f\u306f\u4ee5\u4e0b\u306e\u30dd\u30a4\u30f3\u30c8\u3092\u6291\u3048\u308b\u3088\u3046\u306b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6570\u5e74\u5f8c\u306b\u76ee\u6a19\u3068\u3057\u3066\u3044\u308b\u58f2\u4e0a\u9ad8\u306f\u3044\u304f\u3089\u3067\u3001\u305d\u306e\u305f\u3081\u306b\u4f55\u306b\u3044\u304f\u3089\u6295\u8cc7\u304c\u5fc5\u8981\u306a\u306e\u304b<\/li>\n\n\n\n<li>\u73fe\u5728\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30dd\u30b8\u30b7\u30e7\u30f3\u304b\u3089\u305d\u306e\u6295\u8cc7\u3092\u3059\u308b\u3068\u3001\u3044\u3064\u8cc7\u91d1\u30b7\u30e7\u30fc\u30c8\u3059\u308b\u306e\u304b<\/li>\n\n\n\n<li>\u60f3\u5b9aValuation\u306b\u5bfe\u3057\u3066\u3001\u8abf\u9054\u984d\u306f\u73fe\u5b9f\u7684\u304b<\/li>\n\n\n\n<li>\u4eca\u56de\u306e\u8cc7\u91d1\u8abf\u9054\u3067\u30c0\u30a4\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u306f\u3069\u3053\u307e\u3067\u8a31\u5bb9\u3067\u304d\u308b\u306e\u304b<\/li>\n\n\n\n<li>IPO\u6642\u70b9\u3067\u7d4c\u55b6\u682a\u4e3b\u306b\u306f\u4f55%\u6301\u3063\u3066\u3044\u3066\u6b32\u3057\u3044\u306e\u304b<\/li>\n<\/ul>\n\n\n\n<p id=\"96d6cc60-d851-47fb-b195-aa8f301ed8f1\">\u305d\u306e\u4ed6\u3001\u682a\u5f0f\uff08Equtiy\uff09\u3068\u501f\u5165\uff08Debt\uff09\u306e\u69cb\u6210\u3082\u60a9\u307e\u3057\u3044\u3067\u3059\u3057\u3001\u521d\u671f\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u6c7a\u3081\u5207\u308c\u308b\u3082\u306e\u3067\u306f\u306a\u3044\u306e\u3067\u3001Cap Table Simulation \u3092\u3057\u306a\u304c\u3089\u3001\u8abf\u9054\u30ec\u30f3\u30b8\u306b\u5fdc\u3058\u3066\u6295\u8cc7\u30d7\u30e9\u30f3\u3092\u8907\u6570\u6301\u3063\u3066\u304a\u304f\u306e\u304c\u3044\u3044\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u3067\u306f\u3001\u4e8b\u696d\u8a08\u753b\u4e0a\u306f\u305d\u3046\u9060\u304f\u306a\u3044\u5c06\u6765\u306b\u5358\u6708\u9ed2\u5b57\u306b\u8ee2\u63db\u3059\u308b\u3053\u3068\u3001IPO\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u304c\u30aa\u30f3\u30b9\u30b1\u3067\u884c\u3051\u3070\u4e0a\u5834\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u304c\u671f\u5f85\u3067\u304d\u308b\u3053\u3068\u3001\u5e02\u6cc1\u306b\u3088\u3063\u3066\u306f\u4e0a\u5834\u6642\u671f\u3092\u898b\u76f4\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3053\u3068\u3092\u8996\u91ce\u306b\u5165\u308c\u306a\u304c\u3089\u3001\u30b6\u3063\u3068\u4ee5\u4e0b\u306eplan\u3092\u8a08\u753b\u3057\u3066\u3044\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>plan A\uff1a\u30aa\u30f3\u30b9\u30b1\u3067\u884c\u3063\u305f\u5834\u5408\u306bIPO\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u307e\u3067\u306b\u6700\u4f4e\u9650\u5fc5\u8981\u306a\u8cc7\u91d1\u3092\u8abf\u9054<\/li>\n\n\n\n<li>plan B\uff1a\u4e0a\u5834\u6642\u671f\u3092\u898b\u76f4\u3057\u3066\u3082\u652f\u969c\u304c\u306a\u3044\u7a0b\u5ea6\u306b\u8cc7\u91d1\u4f59\u529b\u3092\u78ba\u4fdd<\/li>\n\n\n\n<li>plan C\uff1a\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u3057\u3066\u3067\u3082IPO\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u307e\u3067\u306b\u6700\u4f4e\u9650\u5fc5\u8981\u306a\u8cc7\u91d1\u3092\u78ba\u4fdd<\/li>\n<\/ul>\n\n\n\n<p>\u7d50\u679c\u3068\u3057\u3066\u3001plan A \u3068 B \u306e\u4e2d\u9593\u3042\u305f\u308a\u306b\u843d\u3061\u7740\u304f\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u304c\u3001\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3078\u306e\u95a2\u4e0e\u306f\u3001\u500b\u793e\u306e\u72b6\u6cc1\u3084\u5e02\u6cc1\u611f\u3092\u8e0f\u307e\u3048\u3066\u3001\u4e8b\u696d\u8a08\u753b\u3068Cap Table \u306e\u7d76\u5999\u306a\u30d0\u30e9\u30f3\u30b9\u611f\u3084\u3001\u3069\u3046\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3059\u308b\u304b\u3001\u7d4c\u9a13\u3084\u30bb\u30f3\u30b9\u304c\u554f\u308f\u308c\u308b\u5224\u65ad\u3060\u3068\u611f\u3058\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6295\u8cc7\u5bb6\u5019\u88dc\u30bf\u30c3\u30d4\u30f3\u30b0<\/h3>\n\n\n\n<p id=\"9680ead1-fea2-4f12-9793-488e8030c50c\">valuation\u3001\u76ee\u6a19\u8abf\u9054\u984d\u304c\u304a\u304a\u3080\u306d\u56fa\u307e\u3063\u305f\u3089\u3001\u6295\u8cc7\u5bb6\u5019\u88dc\u306b\u30bf\u30c3\u30d4\u30f3\u30b0\u3092\u30b9\u30bf\u30fc\u30c8\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30bf\u30c3\u30d4\u30f3\u30b0\u6642\u306b\u6295\u8cc7\u5bb6\u5019\u88dc\u306b\u5bfe\u3057\u3066\u5fc5\u305a\u805e\u304f\u3079\u304d\u3053\u3068\u3068\u3057\u3066\u306f\u3001\u4ee5\u4e0b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<br>\u3000\u2460\u30ea\u30fc\u30c9\u30a4\u30f3\u30d9\u30b9\u30bf\u30fc\u306b\u306a\u308c\u308b\u304b\u3068\u305d\u306e\u6761\u4ef6<br>\u3000\u2461\u51fa\u8cc7\u30b5\u30a4\u30ba<br>\u3000\u2462\u30d5\u30a1\u30f3\u30c9\u671f\u9650<br>\u3000\u2463\u682a\u4e3b\u306b\u306a\u3063\u3066\u3044\u305f\u3060\u3044\u305f\u6642\u306e\u652f\u63f4\u5185\u5bb9<br>\u3000\u2464\u6295\u8cc7\u59d4\u54e1\u4f1a\u7b49\u3001\u610f\u601d\u6c7a\u5b9a\u306e\u30d7\u30ed\u30bb\u30b9\u3068\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb<\/p>\n\n\n\n<p>\u30e6\u30fc\u30d5\u30a9\u30ea\u30a2\u306e\u5834\u5408\u3001\u30b7\u30ea\u30fc\u30baD\u3068\u3044\u3046\u3053\u3068\u3067\u65e2\u5b58\u682a\u4e3b\u69d8\u3082\u591a\u304b\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u4e8b\u696d\u8a08\u753b\u3084valuation\u30fb\u76ee\u6a19\u8abf\u9054\u984d\u3092\u6c7a\u3081\u308b\u3088\u308a\u3082\u5148\u306b\u52d5\u3044\u3066\u3044\u307e\u3057\u305f\uff08\u3053\u308c\u306f\u3042\u307e\u308a\u53c2\u8003\u306b\u306f\u306a\u3089\u306a\u3044\u304b\u306a\u3068\u601d\u3044\u307e\u3059\uff09\u3002<\/p>\n\n\n\n<p>NDA\u306e\u7de0\u7d50\u306b\u5099\u3048\u3066\u30c9\u30e9\u30d5\u30c8\u306e\u6e96\u5099\u3092\u3057\u3066\u304a\u3044\u305f\u308a\u3001DD\u306b\u5fc5\u8981\u3068\u306a\u308b\u6295\u8cc7\u30d1\u30c3\u30b1\u30fc\u30b8\u3092\u3042\u3089\u304b\u3058\u3081\u7528\u610f\u3057\u3066\u304a\u3044\u3066\u3001\u9762\u8ac7\u5f8c\u3059\u3050\u306b\u5c55\u958b\u3067\u304d\u308b\u3088\u3046\u306b\u6e96\u5099\u3057\u3066\u304a\u304f\u65b9\u304c\u591a\u5c11\u306f\u5370\u8c61\u304c\u826f\u3044\u304b\u306a\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"e8b6cb5f-2079-4845-8624-221d1f932731\">2\uff1a\u4ea4\u6e09\u30d5\u30a7\u30fc\u30ba<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"612\" height=\"408\" src=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/005-02.\u4ea4\u6e09.jpg\" alt=\"\" class=\"wp-image-1361\" style=\"width:713px;height:auto\" srcset=\"https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/005-02.\u4ea4\u6e09.jpg 612w, https:\/\/volante10.com\/wp-content\/uploads\/2024\/01\/005-02.\u4ea4\u6e09-300x200.jpg 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u3068\u306e\u4ea4\u6e09<\/h3>\n\n\n\n<p>\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u306e\u5b9a\u7fa9\u3082\u3044\u308d\u3044\u308d\u3042\u308a\u307e\u3059\u304c\u3001\u2460Valuation\u542b\u3081\u305d\u306e\u8cc7\u91d1\u8abf\u9054\u30e9\u30a6\u30f3\u30c9\u306e\u6761\u4ef6\u3092\u6c7a\u3081\u308b\u3053\u3068\u3001\u2461\u305d\u306e\u30e9\u30a6\u30f3\u30c9\u304a\u3051\u308b\u6700\u5927\u984d\u3092\u62e0\u51fa\u3059\u308b\u3053\u3068\u3001\u304b\u3068\u601d\u3044\u307e\u3059\uff08\u2460\u3060\u3051\u306e\u30b1\u30fc\u30b9\u3082\u3042\u308b\u304b\u3068\u306f\u601d\u3044\u307e\u3059\u304c\uff09\u3002<\/p>\n\n\n\n<p>\u30e9\u30a6\u30f3\u30c9\u304c\u6210\u529f\u3059\u308b\u304b\u3069\u3046\u304b\u306b\u3064\u3044\u3066\u306f\u3001\u65e2\u5b58\u682a\u4e3b\u306b\u3088\u308b\u8ffd\u52a0\u6295\u8cc7\u304c\u3042\u308b\u3068\u306a\u3044\u3068\u3067\u306f\u5927\u304d\u304f\u5de6\u53f3\u3055\u308c\u308b\u65e8\u3092\u4e0a\u8ff0\u3057\u307e\u3057\u305f\u304c\u3001\u3053\u308c\u306b\u30d7\u30e9\u30b9\u3057\u3066\u3001\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u304c\u65e9\u671f\u306b\u6c7a\u307e\u308b\u304b\u3069\u3046\u304b\u3082\u91cd\u8981\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u4ea4\u6e09\u306b\u3064\u3044\u3066\u306f\u3001\u21e7\u306e\u30bf\u30c3\u30d4\u30f3\u30b0\u3067\u7279\u306b\u76f8\u6027\u3084\u611f\u89e6\u304c\u826f\u3055\u305d\u3046\u306a\u6295\u8cc7\u5bb6\u3092\u30ea\u30fc\u30c9\u5019\u88dc\u3068\u3057\u3001\u512a\u5148\u7684\u306bDD\u30fb\u4ea4\u6e09\u3092\u9032\u3081\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u5e02\u6cc1\u611f\u306b\u3082\u3088\u308a\u307e\u3059\u304c\u3001\u5b89\u5168\u7b56\u3092\u53d6\u308b\u610f\u5473\u3067\u3001\u8907\u6570\u306e\u30ea\u30fc\u30c9\u5019\u88dc\u3068\u540c\u6642\u306b\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u53d6\u3063\u3066\u304a\u304f\u306e\u3082\u5927\u4e8b\u3067\u3059\u3002\u30ea\u30fc\u30c9\u306e\u307f\u3068\u3044\u3046\u30b9\u30bf\u30f3\u30b9\u306e\u6295\u8cc7\u5bb6\u5019\u88dc\u3082\u5f53\u7136\u5b58\u5728\u3057\u307e\u3059\u304c\u3001\u30d5\u30a9\u30ed\u30fc\u306b\u56de\u3063\u3066\u3082\u3089\u3046\u53ef\u80fd\u6027\u3082\u542b\u3081\u3066\u4ea4\u6e09\u3057\u3066\u304a\u304f\u3053\u3068\u3067\u3001\u9078\u629e\u80a2\u304c\u5897\u3048\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u3068\u306e\u4ea4\u6e09\u306b\u3064\u3044\u3066\u306f\u3001\u30bf\u30c3\u30d4\u30f3\u30b0\u306e\u969b\u306b\u300c\u30ea\u30fc\u30c9\u304c\u6c7a\u307e\u3063\u3066\u3044\u308c\u3070\u6295\u8cc7\u691c\u8a0e\u3059\u308b\u300d\u3068\u8a00\u308f\u308c\u308b\u30b1\u30fc\u30b9\u306f\u591a\u3044\u3067\u3059\u3002\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u3068\u30bf\u30fc\u30e0\u30b7\u30fc\u30c8\u30ec\u30d9\u30eb\u3067\u5408\u610f\u3057\u3066\u304a\u3051\u3070\u3001\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u5019\u88dc\u306b\u306f\u3001\u57fa\u672c\u7684\u306b\u306f\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u3068\u306e\u30bf\u30fc\u30e0\u30b7\u30fc\u30c8\u306e\u6761\u4ef6\u306b\u4e57\u308b\u304b\u53cd\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3001\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u306b\u3064\u3044\u3066\u306f\u3001\u30e9\u30a6\u30f3\u30c9\u306e\u72b6\u6cc1\u7b49\u3092\u5b9a\u671f\u7684\u306b\u60c5\u5831\u63d0\u4f9b\u3057\u95a2\u4fc2\u3092\u6696\u3081\u7d9a\u3051\u306a\u304c\u3089\u3001\u30ea\u30fc\u30c9\u5019\u88dc\u306b\u6295\u8cc7\u6c7a\u5b9a\u3057\u3066\u3082\u3089\u3046\u3088\u3046\u5168\u529b\u3067\u81e8\u3080\u611f\u3058\u306b\u306a\u308b\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p id=\"de35c61f-ba41-4ae1-95ff-25237b4f0df6\">DD\u5bfe\u5fdc\u306b\u3064\u3044\u3066\u306f\u3001\u8cea\u554f\u306b\u7684\u78ba\u304b\u3064\u30b9\u30d4\u30fc\u30c7\u30a3\u30fc\u306b\u56de\u7b54\u3057\u3066\u3044\u304f\u3068\u62c5\u5f53\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306e\u4fe1\u983c\u3092\u7372\u5f97\u3067\u304d\u307e\u3059\u3002\u4e8b\u696d\u62c5\u5f53\u8005\u306b\u3057\u304b\u56de\u7b54\u3067\u304d\u306a\u3044\u3088\u3046\u306a\u7d30\u304b\u3044\u30ec\u30d9\u30eb\u306e\u8cea\u554f\u3084\u8cc7\u6599\u8981\u8acb\u304c\u6765\u307e\u3059\u306e\u3067\u3001\u30b9\u30e0\u30fc\u30ba\u306b\u5bfe\u5fdc\u3059\u308b\u305f\u3081\u306b\u306f\u793e\u5185\u306e\u5354\u529b\u4f53\u5236\u306f\u5fc5\u9808\u3067\u3059\u3002\u4e8b\u696d\u62c5\u5f53\u5074\u306f\u3001\u4e8b\u696d\u3068\u4e26\u884c\u3057\u3066\u5bfe\u5fdc\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u76f8\u5fdc\u306e\u8ca0\u62c5\u304c\u767a\u751f\u3057\u307e\u3059\u306e\u3067\u3001\u95a2\u4fc2\u69cb\u7bc9\u3082\u91cd\u8981\u3067\u3059\u3002\u3059\u308b\u3053\u3068\u3068\u5b88\u79d8\u7fa9\u52d9\u306b\u3064\u3044\u3066\u30a4\u30f3\u30d7\u30c3\u30c8\u3057\u3066\u304a\u304f\u3068\u826f\u3044\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p id=\"639638e8-6abb-4626-9ab0-9f920e5cd9cd\">\u6295\u8cc7\u691c\u8a0e\u304c\u9032\u3093\u3067\u3044\u304f\u3068\u3001\u30ea\u30d5\u30a1\u30ec\u30f3\u30b9\u9762\u8ac7\u304c\u3042\u308a\u307e\u3059\u3002\u4e3b\u306b\u3001\u2460\u30b5\u30fc\u30d3\u30b9\u306e\u30e6\u30fc\u30b6\u30fc\u3001\u2461\u65e2\u5b58\u6295\u8cc7\u5bb6\u3068\u306e\u9762\u8ac7\u3092\u8981\u8acb\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002\u2460\u306f\u6163\u308c\u3066\u3044\u306a\u3044\u65b9\u304c\u307b\u3068\u3093\u3069\u304b\u3068\u601d\u3044\u307e\u3059\u306e\u3067\u3001\u53ef\u80fd\u306a\u9650\u308a\u3067\u8cea\u554f\u9805\u76ee\u3092\u5165\u624b\u3057\u305f\u308a\u3001\u9762\u8ac7\u306e\u8da3\u65e8\u3084\u5185\u5bb9\u306b\u3064\u3044\u3066\u3001\u4e8b\u524d\u306b\u6253\u3061\u5408\u308f\u305b\u3057\u3066\u304a\u304b\u306a\u3044\u3068\u3001\u601d\u308f\u306c\u3068\u3053\u308d\u3067\u8db3\u5143\u3092\u3059\u304f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u9280\u884c\u3068\u306e\u4ea4\u6e09<\/h3>\n\n\n\n<p id=\"a9191d3c-9189-4c1a-8783-eeda91e27634\">Debt\uff08\u501f\u5165\uff09\u3092\u884c\u3046\u5834\u5408\u306f\u3001\u30a8\u30af\u30a4\u30c6\u30a3\u8abf\u9054\u306e\u78ba\u5ea6\u304c\u4e0a\u304c\u3063\u305f\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u30b9\u30bf\u30fc\u30c8\u3059\u308b\u306e\u304c\u826f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p id=\"a9191d3c-9189-4c1a-8783-eeda91e27634\">\u501f\u5165\u306f\u4e00\u5b9a\u671f\u9593\u7d4c\u904e\u5f8c\u306b\u91d1\u5229\u3092\u4ed8\u3051\u3066\u8fd4\u6e08\u3059\u308b\u3053\u3068\u304c\u524d\u63d0\u3067\u3059\u306e\u3067\u3001\u9ed2\u5b57\u3067\u3042\u308b\u4e8b\u696d\u3092\u6709\u3057\u3066\u3044\u308b\uff08\u3082\u3057\u304f\u306f\u9ed2\u5b57\u5316\u306e\u84cb\u7136\u6027\u304c\u9ad8\u3044\uff09\u3001\u8fd4\u6e08\u6642\u671f\u306b\u8cc7\u91d1\u4f59\u529b\u304c\u3042\u308b\u3068\u5224\u65ad\u3057\u3066\u3082\u3089\u3048\u308b\u7b49\u3001\u305d\u306e\u8fd4\u6e08\u78ba\u5ea6\u304c\u554f\u308f\u308c\u307e\u3059\u3002\u305d\u3046\u3044\u3046\u610f\u5473\u3067\u3001Equity\uff08\u682a\u5f0f\uff09\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u306e\u78ba\u5ea6\u304c\u4e0a\u304c\u3063\u3066\u304b\u3089\u9280\u884c\u306b\u304a\u58f0\u639b\u3051\u3059\u308c\u3070\u3001\u6295\u8cc7\u306b\u3088\u308a\u4e8b\u696d\u304c\u9ed2\u5b57\u5316\u3059\u308b\u3001\u30ea\u30b9\u30af\u30d0\u30c3\u30d5\u30a1\u304c\u3042\u308b\u3068\u3044\u3046\u5224\u65ad\u306b\u306a\u308a\u501f\u5165\u3057\u3084\u3059\u304f\u306a\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u65b0\u898f\u306e\u91d1\u878d\u6a5f\u95a2\u306e\u5834\u5408\u3001\u307e\u305a\u306f\u77ed\u671f\uff081\u5e74\u7b49\uff09\u3067\u501f\u308a\u5165\u308c\u3066\u95a2\u4fc2\u3092\u69cb\u7bc9\u3057\u3001\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u524d\u63d0\u3067\u8cc7\u91d1\u878d\u901a\u304c\u3067\u304d\u308b\u72b6\u6cc1\u3092\u4f5c\u3063\u3066\u304a\u304f\u306e\u304c\u7406\u60f3\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u8cc7\u91d1\u8abf\u9054\u304c\u53b3\u3057\u3044\u5e02\u6cc1\u306b\u306a\u3063\u3066\u30d9\u30f3\u30c1\u30e3\u30fc\u30c7\u30c3\u30c8\u306e\u5229\u7528\u3082\u5897\u3048\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u3002\u30d9\u30f3\u30c1\u30e3\u30fc\u30c7\u30c3\u30c9\u306f\u3001\u8ee2\u63db\u793e\u50b5\u3084\u65b0\u682a\u4e88\u7d04\u6a29\u4ed8\u878d\u8cc7\u306a\u3069\u304c\u542b\u307e\u308c\u3001\u878d\u8cc7\u3092\u53d7\u3051\u308b\u3068\u540c\u6642\u306b\u3001\u81ea\u793e\u306e\u682a\u5f0f\u3092\u3042\u3089\u304b\u3058\u3081\u5b9a\u3081\u3089\u308c\u305f\u4fa1\u683c\u3067\u8cfc\u5165\u3067\u304d\u308b\u65b0\u682a\u4e88\u7d04\u6a29\uff08\u30b9\u30c8\u30c3\u30af\u30aa\u30d7\u30b7\u30e7\u30f3\u3001\u30ef\u30e9\u30f3\u30c8\uff09\u3092\u4ed8\u4e0e\u3059\u308b\u624b\u6cd5\u3067\u3059\u306e\u3067\u3001\u9078\u629e\u80a2\u306e1\u3064\u3068\u3057\u3066\u62bc\u3055\u3048\u3066\u304a\u304f\u306e\u304c\u3044\u3044\u3068\u601d\u3044\u307e\u3059\u3002<br><a href=\"https:\/\/coralcap.co\/2022\/10\/venture-debt\/\" title=\"\">https:\/\/coralcap.co\/2022\/10\/venture-debt\/<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6295\u8cc7\u5bb6\u4ea4\u6e09\u30fbDD\u306e\u6240\u611f<\/h3>\n\n\n\n<p>\u672c\u30e9\u30a6\u30f3\u30c9\u3092\u30ad\u30fc\u30ef\u30fc\u30c9\u3067\u8868\u3059\u3068\u3059\u308b\u3068\u3001\u300e\u30ec\u30a4\u30bf\u30fc\uff08\u30b7\u30ea\u30fc\u30baD\uff09\u300f\u300e\u5e02\u6cc1\u304c\u60aa\u3044\u300f\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u57fa\u672c\u7684\u306b\u30ec\u30a4\u30bf\u30fc\u30b7\u30ea\u30fc\u30ba\u306e\u5834\u5408\u3001\u8abf\u9054\u984d\u304c\u6570\u5341\u5104\u5186\u3092\u8d85\u3048\u3066\u304f\u308b\u305f\u3081\u3001\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u306f\u4e0a\u5834\u4f01\u696d\u306b\u3082\u6295\u8cc7\u3057\u3066\u3044\u308b\u30af\u30ed\u30b9\u30aa\u30fc\u30d0\u30fc\u6295\u8cc7\u5bb6\u306e\u3088\u3046\u306b\u30c1\u30b1\u30c3\u30c8\u30b5\u30a4\u30ba\u304c\u6570\u5341\u5104\u5186\u898f\u6a21\u306e\u6295\u8cc7\u5bb6\u306b\u9650\u3089\u308c\u3066\u304d\u307e\u3059\u304c\u3001\u3053\u308c\u306b\u52a0\u3048\u3001\u7e70\u308a\u8fd4\u3057\u3067\u6050\u7e2e\u3067\u3059\u304c\u3001\u672c\u30e9\u30a6\u30f3\u30c9\u306f\u5e02\u6cc1\u611f\u304c\u60aa\u5316\u3057\u3001\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3078\u306e\u6295\u8cc7\u5224\u65ad\u304c\u3088\u308a\u53b3\u3057\u304f\u306a\u3063\u3066\u3044\u308b\u3068\u611f\u3058\u307e\u3057\u305f\uff08<a href=\"https:\/\/initial.inc\/articles\/japan-startup-finance-2023h1\">https:\/\/initial.inc\/articles\/japan-startup-finance-2023h1<\/a>\uff09\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u3001\u5e78\u3044\u306b\u3082\u3001\u65e2\u5b58\u682a\u4e3b\u306e1\u793e\u304b\u3089\u672c\u30e9\u30a6\u30f3\u30c9\u306e\u6bd4\u8f03\u7684\u65e9\u3044\u6bb5\u968e\u3067\u8ffd\u52a0\u6295\u8cc7\u3068\u672c\u30e9\u30a6\u30f3\u30c9\u306e\u30ea\u30fc\u30c9\u3092\u6c7a\u5b9a\u3044\u305f\u3060\u3051\u307e\u3057\u305f\u3002\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u5019\u88dc\u306b\u512a\u5148\u7684\u304b\u3064\u6642\u9593\u3092\u5272\u3044\u3066\u5bfe\u5fdc\u3067\u304d\u305f\u306e\u306f\u304b\u306a\u308a\u5927\u304d\u304b\u3063\u305f\u304b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u672c\u30e9\u30a6\u30f3\u30c9\u3067\u306f\u3001\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u306e\u610f\u601d\u6c7a\u5b9a\u306f\u304b\u306a\u308a\u614e\u91cd\u306b\u306a\u3063\u3066\u3044\u308b\u3068\u611f\u3058\u307e\u3057\u305f\u3002\u5e02\u5834\u304c\u30a4\u30b1\u30a4\u30b1\u306e\u6642\u6a5f\u3060\u3068\u3001\u30ea\u30fc\u30c9\u6295\u8cc7\u5bb6\u304c\u78ba\u5b9a\u3059\u308c\u3070\u3001\u30d5\u30a9\u30ed\u30fc\u6295\u8cc7\u5bb6\u306e\u65b9\u3005\u3082\u6b8b\u308a\u306e\u91d1\u984d\u306e\u51fa\u8cc7\u306b\u3064\u3044\u3066\u30b9\u30d4\u30fc\u30c7\u30a3\u30fc\u306b\u610f\u601d\u6c7a\u5b9a\u3055\u308c\u307e\u3059\u304c\u3001\u5e02\u5834\u304c\u51b7\u3048\u8fbc\u3093\u3067\u3044\u308b\u73fe\u72b6\u306b\u304a\u3044\u3066\u306f\u3001\u30b5\u30a4\u30ba\u304c\u5c0f\u3055\u304b\u3063\u305f\u308a\u3001\u6761\u4ef6\u304c\u4ed8\u3044\u305f\u308a\u3001\u610f\u601d\u6c7a\u5b9a\u305d\u306e\u3082\u306e\u306b\u614e\u91cd\u306b\u306a\u3089\u3056\u308b\u3092\u5f97\u306a\u3044\u306e\u3082\u3084\u3080\u3092\u5f97\u306a\u3044\u3068\u3082\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u5b9f\u969b\u306b\u3001\u65e2\u5b58\u682a\u4e3b\u304b\u3089\u30821\u5ea6\u306f\u65ad\u3089\u308c\u307e\u3057\u305f\u304c\u3001\u518d\u4ea4\u6e09\u3068\u62c5\u5f53\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306e\u3054\u5c3d\u529b\u306b\u3088\u308a\u3001\u672c\u30e9\u30a6\u30f3\u30c9\u306e\u30a8\u30af\u30a4\u30c6\u30a3\u7dcf\u984d\u3067&#x3299;\u5104\u5186\u3092\u8d85\u3048\u308b\u3053\u3068\u3068\u3044\u3046\u6761\u4ef6\u4ed8\u304d\u3067\u306e\u5185\u5b9a\u3092\u3044\u305f\u3060\u304f\u7b49\u3001\u5927\u9006\u8ee2\u5287\u304c\u3042\u3063\u305f\u308a\u3068\u3001\u5f53\u793e\u306b\u3068\u3063\u3066\u306f\u5b09\u3057\u3044\u51fa\u6765\u4e8b\u3067\u306f\u3042\u308a\u307e\u3057\u305f\u304c\u3001\u53b3\u3057\u3055\u3092\u5b9f\u611f\u3057\u305f\u77ac\u9593\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3055\u3089\u306b\u3001\u672c\u30e9\u30a6\u30f3\u30c9\u3067\u306f\u3001\u8907\u6570\u306e\u65b0\u898f\u6295\u8cc7\u5bb6\u306b\u3082\u5165\u3063\u3066\u3044\u305f\u3060\u3044\u3066\u3044\u307e\u3059\u304c\u3001\u672c\u30e9\u30a6\u30f3\u30c9\u306f\u30ec\u30a4\u30bf\u30fc\u304b\u3064\u5e02\u6cc1\u304c\u60aa\u3044\u3053\u3068\u304c\u5f71\u97ff\u3057\u3066\u304b\u7d14\u7c8b\u306aVC\u304b\u3089\u306f\u6295\u8cc7\u304c\u898b\u9001\u3089\u308c\u3001\u3044\u305a\u308c\u3082\u8907\u6570\u306eCVC\u3084\u4e8b\u696d\u4f1a\u793e\u304b\u3089\u8cc7\u672c\u696d\u52d9\u63d0\u643a\u306e\u5f62\u3067\u3057\u305f\u3002\u5f53\u793e\u3068\u3057\u3066\u3082\u3001\u4e8b\u696d\u62e1\u5927\u3092\u56f3\u3063\u3066\u3044\u308b\u30d5\u30a7\u30fc\u30ba\u306a\u306e\u3067\u3001\u30d5\u30a7\u30fc\u30ba\u306b\u3088\u308b\u76f8\u6027\u3082\u3042\u308b\u306e\u304b\u3068\u8003\u3048\u3055\u305b\u3089\u308c\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u52a0\u3048\u3066\u3001\u5f53\u793e\u3067\u306f\u3001Debt\u8abf\u9054\u306b\u3082\u52d5\u3044\u3066\u304a\u308a\u307e\u3059\u304c\u3001\u3053\u306e\u8fba\u308a\u306f\u5225\u8a18\u4e8b\u3067\u7d39\u4ecb\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u4e0a\u5834\u4f01\u696d\u52e4\u52d9\u6642\u4ee3\u306b\u3001\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3078\u6295\u8cc7\u3059\u308b\u5074\u3068\u3057\u3066\u3001\u8ee2\u63db\u793e\u50b5\u306b\u3088\u308b\u6295\u8cc7\u3092\u884c\u3044\u3001\u6295\u8cc7\u5148\u306e\u652f\u63f4\u3068\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u884c\u4f7f\u3092\u884c\u3063\u305f\u7d4c\u9a13\u304c\u3042\u3063\u305f\u306e\u3067\u3001\u4eca\u56de\u306f\u6295\u8cc7\u3055\u308c\u308b\u5074\u3067\u3059\u304c\u3001\u3053\u306e\u7d4c\u9a13\u306f\u5f79\u306b\u7acb\u3063\u3066\u3044\u308b\u306a\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 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