JVPF to Support AsMama’s Work in “Child Care Sharing”Creating a Society in which Parents Assist Each Other in a Safe, Secure, and Unconstrained Environment
Japan Venture Philanthropy Fund (JVPF), jointly operated by the Nippon Foundation and Social Investment Partners, has selected AsMama as a new support recipient, and decided to invest a total of 30 million yen via a convertible bond structure and provide management support for three years. JVPF was established in April 2013 by a group of companies, managers, and investment professionals with financial backing from the Nippon Foundation, to support organizations that are working to address social issues and facilitate the continuity of their activities. Going forward, JVPF will continue to provide financial and management support to organizations working in the three areas of education and youth employment, child care and women’s social participation, and local revitalization and community-building. The financial support to AsMama is JVPF’s first use of a financing structure. The Nippon Foundation is also the private-sector representative to the G8 Social Impact Investment Taskforce, which was established in 2013, and continues to work with JVPF and use other investments and financing structures to address social issues.
[Details of Support Decision]
- Recipient name: AsMama Inc.
- Support amount: 30 million yen over three years, via a convertible bond structure
- Support details: Management support including strategic planning, strengthening of management base, and evaluation of social impact
Established to “create a social framework through which anyone who wants to raise children and be employed can easily do so,” AsMama provides safe, secure, and enjoyable venues, including via the Internet, to connect parents and children who need child care assistance with individuals and companies that want to provide assistance. With Japan’s workforce contracting as the population ages, child care support for women who are concerned about the impact of caring for a young child on their ability to return to work and pursue a career has become an urgent social issue. AsMama operates the “Child Care Sharing” Internet service that connects parents with children attending the same school or nursery to assist with child care, including taking the child to and from school, for as little as 500 yen per hour. AsMama’s unique business model further enhances the service’s social contribution, using revenue generated by the company’s marketing support business with a diverse range of companies to operate the Child Care Sharing service at no charge to the family requiring child care (the hourly fee is paid directly to the person providing the care). In addition to the Internet matching service, AsMama-certified “Mama Supporters” are available for families who want to meet the child care provider in advance, or for families who have just moved to a new community. Features like insurance in the case of an accident also add value that is not available in traditional child care services. Child Care Sharing currently has 25,000 registered users, of which more than 80% are repeat users, and further growth is expected going forward.
[About Social Investment Partners]
SIP was established in November 2012 by venture investment professionals and experts in the field of social enterprise, for the purpose of providing guidance and support to organizations engaged in a variety of social enterprises to ensure their social contribution and the continuity of their operations. Working with pro bono partners, SIP provides recipient organizations with ongoing, specialized management resources with a medium-term time frame of three to five years.
- SIP website
[About Japan Venture Philanthropy Fund]
Prior support recipients:
|Name||Activity||Start of Support||Funding Amount / Type|
|1. After School||After-school programs for elementary-school children led by local “citizen teachers.”||December 2013||20 million yen / Grant|
|2. Teach For Japan||Recruiting of young teachers primarily with business backgrounds and dispatching them to public schools.||January 2015||30 million yen (with milestones) / Grant|
Communications Department The Nippon Foundation