Japan's MPower backs construction workers' platform

Sukedachi is positioned as a matchmaking platform for construction companies and workers that is able to promote greater income stability for a sector employing some 5m people. MPower said it had an “overwhelming share of the industry’s matching market” with 170,000 registered companies and workers.

Several unspecified existing investors joined the investment. The company’s last round came in 2019, with Sparx Asset Management, Hitachi Koki, and JAI Mitsui Leasing providing JPY500m, according to AVCJ Research. Earlier backers include Genesia Ventures, KLab Venture Partners, Itochu Technology Ventures, Legend Partners, and Persol Innovation Fund.

Miwa Seki, a general partner at MPower, has joined the company as an external director with a view to promoting the integration of ESG practices. Seki, previously an investment banker for Morgan Stanley and Japan lead for asset manager Clay Finlay, founded MPower last year alongside former Goldman Sachs executives Kathy Matsui and Yumiko Murakami.

“We are striving to address social issues such as improving the incomes and status of construction workers while aiming to solve industry-wide labour shortages as well,” Yoichi Wagatsuma, president and CEO of Sukedach, said in a statement.

Private equity activity in this niche includes J-Star exiting a 20% stake in Aki-Japan, a construction worker training service, in April last year. J-Star, which typically deploys in a range of JPY1-3 billion, had acquired 100% of the company two months prior.

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• Topics
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• MPower Partners
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