NVenture Capital and kubell Announce Strategic Partnership to Address Labor Shortage Challenges for SMEs

NVenture Capital Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director: Kazuo Kunieda; hereinafter "NVenture Capital") and kubell Inc. (Headquarters: Minato-ku, Tokyo; Representative Director and CEO: Masaki Yamamoto; hereinafter "kubell") today announced the establishment of a strategic partnership to support small and medium-sized enterprises (SMEs) in addressing labor shortage challenges.

Background and Objectives

Labor shortages in Japan are becoming increasingly severe, with projections estimating a workforce deficit of approximately 3.4 million people by 2030.*1 Amid this structural labor shortage, SMEs—which account for 99.7% of all businesses in Japan*2—have long struggled with low labor productivity. According to the Small and Medium Enterprise Agency, 64.8% of SMEs are currently experiencing labor shortages, and notably, 64.9% of these companies have not made equipment investments specifically aimed at addressing staffing issues, indicating that responses remain insufficient.*3 While data shows that SMEs that have made investments to combat labor shortages have seen greater revenue growth, barriers to investment include "lack of funding, difficulty selecting appropriate equipment, and insufficient human and time resources for implementation."*3

To address these societal challenges, in March 2026, the Tokyo Metropolitan Government launched the "Workforce Innovation Fund No.1 Investment Business Limited Partnership" (hereinafter "WIF1 Fund"), aimed at supporting solutions to labor shortage issues among SMEs. NVenture Capital has been selected as the fund operator and, through a fund totaling approximately ¥5 billion—comprising ¥2 billion from Tokyo and additional private capital (as of March 6, 2026, with plans to scale up to ¥10 billion by the end of March 2027)*4—will invest in and provide hands-on support to venture companies offering technologies and services that help resolve labor shortages among SMEs, aiming to maximize both fund returns and social impact.*4

Meanwhile, kubell, operating under the mission of "making work more enjoyable and creative," is dedicated to improving labor productivity for SMEs through the combined power of people and technology. Through its services—including Chatwork, one of Japan’s largest business chat platforms, and the task automation service "Takushita"—kubell supports approximately 990,000 companies (as of March 2026) in streamlining their operations.

Both companies recognize labor shortages and low productivity—faced by Japan’s 3.36 million SMEs*3—as major societal challenges. By combining their respective strengths, they aim to resolve labor shortage issues and support sustainable growth for SMEs.

*1 Recruit Works Institute, "Future Forecast 2040: Society Constrained by Labor Supply" (2023)

*2 Small and Medium Enterprise Agency, "White Paper on Small and Medium Enterprises in Japan 2025"

*3 Small and Medium Enterprise Agency, "White Paper on Small and Medium Enterprises in Japan 2024"

*4 Tokyo Metropolitan Government, "Establishment of the Fund to Support Solutions for Labor Shortage Issues among SMEs" (March 2026) https://www.metro.tokyo.lg.jp/information/press/2026/03/2026032302

Overview of the Partnership

This partnership is structured to mutually complement each company’s strengths, aiming to establish a robust collaboration in SME support, centered on startups invested in by NVenture Capital’s venture capital fund.

NVenture Capital was established in 2021 as a 100% subsidiary dedicated exclusively to venture capital investment, building on the venture investment business initiated in 2012 by NEC Capital Solutions Ltd. (Headquarters: Minato-ku, Tokyo; President and CEO: Masaaki Suganuma; hereinafter "NEC Capital Solutions"). To date, NVenture Capital has invested in over 60 companies, providing tailored hands-on support in areas such as top-line growth, project management enhancement, fundraising, and internal governance development, successfully accelerating venture growth and facilitating numerous IPOs and M&As.

kubell possesses deep domain expertise, high customer resolution, and strong distribution capabilities for SMEs, cultivated through its customer base of approximately 990,000 SMEs (as of March 2026) and diverse service offerings such as the business chat platform "Chatwork" and the task automation service "Takushita."

Future Outlook

Moving forward, the two companies will deepen investment and sales collaboration based on this partnership to accelerate innovation that addresses labor shortages among SMEs. Specifically, they will build a system to directly deliver solutions from promising startups—including those invested in by the WIF1 Fund—to SMEs through kubell’s customer base. Furthermore, within kubell’s BPaaS (Business Process as a Service) business, the company will actively incorporate startup services to promote the resolution of labor shortages in SMEs through the real-world implementation of startup innovations.

Statements from Both Companies

Kazuo Kunieda, Representative Director, NVenture Capital Co., Ltd.

"For the many SMEs that support the Japanese economy, resolving labor shortages is an urgent and critical challenge.

NVenture Capital has directly addressed this issue by establishing the WIF1 Fund in March 2026 in collaboration with the Tokyo Metropolitan Government, under a clear investment thesis that aims to maximize both investment returns and the resolution of labor shortages among SMEs.

Through this fund, we will provide broad support in collaboration with NEC Capital Solutions, our parent company and LP investor in the fund, to widely disseminate the products and services offered by startups to society.

Our partnership with kubell Inc. adds kubell’s customer base of approximately 990,000 companies and deep on-site insights to this support framework, creating a stronger driving force to ensure that products and services reach SMEs facing challenges. We are confident that by combining our respective strengths, we can accelerate the real-world implementation of startups and make a genuine contribution to solving SME challenges."

Shoji Fukuda, Director and Senior Executive Officer, COO, kubell Inc.

"Under our mission of 'making work more enjoyable and creative,' kubell has been driving business transformation for SMEs through services such as the business chat platform 'Chatwork' and the task automation service 'Takushita.' In the SME management environments we engage with daily, labor shortages are not a future concern—they are an immediate operational challenge. For years, we have keenly felt the gap between technological solutions that could resolve these issues and their actual penetration into the field due to delivery challenges.

This partnership with NVenture Capital combines the investment power of the WIF1 Fund promoted by the Tokyo Metropolitan Government with our customer base and operational expertise to build a system that directly delivers promising startup solutions to SMEs on the ground. We will strongly advance this initiative together with NVenture Capital, as it directly aligns with kubell’s goal of realizing transformative changes in how SMEs work."

*This press release is jointly issued by NVenture Capital Co., Ltd. and kubell Inc.