{"id":154638,"date":"2024-05-27T14:36:00","date_gmt":"2024-05-27T05:36:00","guid":{"rendered":"https:\/\/www.kotora.jp/c\/?p=154638"},"modified":"2026-05-27T14:52:39","modified_gmt":"2026-05-27T05:52:39","slug":"154638-2","status":"publish","type":"post","link":"https:\/\/www.kotora.jp/c\/154638-2\/","title":{"rendered":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac"},"content":{"rendered":"\n<p>\u8fd1\u5e74\u3001\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30fb\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306f\u653f\u5e9c\u4e3b\u5c0e\u306e\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u80b2\u62105\u30ab\u5e74\u8a08\u753b\u300d\u306b\u3088\u308b\u5f37\u529b\u306a\u5f8c\u62bc\u3057\u3084\u3001\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u3001DX\uff08\u30c7\u30b8\u30bf\u30eb\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3001GX\uff08\u30b0\u30ea\u30fc\u30f3\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3068\u3044\u3063\u305f\u9818\u57df\u3078\u306e\u5de8\u984d\u306e\u8cc7\u91d1\u6d41\u5165\u306b\u3088\u308a\u3001\u304b\u3064\u3066\u306a\u3044\u307b\u3069\u306e\u5287\u7684\u306a\u9032\u5316\u3092\u9042\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u4e2d\u5fc3\u3067\u3001\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u727d\u5f15\u5f79\u3068\u3057\u3066\u5727\u5012\u7684\u306a\u5b58\u5728\u611f\u3092\u653e\u3063\u3066\u3044\u308b\u306e\u304c\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u3067\u3059\u3002\u304b\u3064\u3066\u306f\u4e00\u90e8\u306e\u91d1\u878d\u30a8\u30ea\u30fc\u30c8\u3084\u30b7\u30ea\u30a2\u30eb\u30a2\u30f3\u30c8\u30ec\u30d7\u30ec\u30ca\u30fc\uff08\u9023\u7d9a\u8d77\u696d\u5bb6\uff09\u3060\u3051\u306b\u958b\u304b\u308c\u305f\u72ed\u304d\u9580\u3067\u3042\u3063\u305fVC\u696d\u754c\u3067\u3059\u304c\u3001\u6295\u8cc7\u30d5\u30a1\u30f3\u30c9\u306e\u5927\u578b\u5316\u3084CVC\uff08\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff09\u306e\u6025\u5897\u306b\u4f34\u3044\u3001\u305d\u306e\u63a1\u7528\u5e02\u5834\u306f\u6025\u901f\u306b\u62e1\u5927\u3057\u3001\u591a\u69d8\u5316\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u30cf\u30a4\u30af\u30e9\u30b9\u8ee2\u8077\u5e02\u5834\u3092\u727d\u5f15\u3059\u308b\u30b3\u30c8\u30e9\u306e\u6700\u65b0\u6c42\u4eba\u30c7\u30fc\u30bf\u3092\u30d9\u30fc\u30b9\u306b\u3001\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u696d\u754c\u306e\u6700\u65b0\u63a1\u7528\u30c8\u30ec\u30f3\u30c9\u3001\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30bb\u30c3\u30c8\u3001\u5e74\u53ce\u6c34\u6e96\u3001\u3055\u3089\u306b\u306f\u672a\u7d4c\u9a13\u304b\u3089VC\u3078\u8ee2\u8077\u3059\u308b\u305f\u3081\u306e\u5b9f\u8df5\u7684\u306a\u6226\u7565\u307e\u3067\u30011\u4e07\u5b57\u3092\u8d85\u3048\u308b\u5727\u5012\u7684\u306a\u30dc\u30ea\u30e5\u30fc\u30e0\u3067\u5fb9\u5e95\u7684\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. \u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u306e\u8ee2\u8077\u5e02\u5834\u30c8\u30ec\u30f3\u30c9\u3068\u696d\u754c\u69cb\u9020<\/h2>\n\n\n\n<p>\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u6295\u8cc7\u984d\u306f\u5e74\u3005\u5897\u52a0\u50be\u5411\u306b\u3042\u308a\u3001\u305d\u308c\u306b\u4f34\u3063\u3066VC\u304c\u904b\u7528\u3059\u308b\u30d5\u30a1\u30f3\u30c9\u306e\u898f\u6a21\u3082\u5de8\u5927\u5316\u3057\u3066\u3044\u307e\u3059\u3002\u6570\u5341\u5104\u5186\u898f\u6a21\u3060\u3063\u305f\u30d5\u30a1\u30f3\u30c9\u304c\u3001\u73fe\u5728\u3067\u306f\u6570\u767e\u5104\u5186\u3001\u5834\u5408\u306b\u3088\u3063\u3066\u306f1,000\u5104\u5186\u3092\u8d85\u3048\u308b\u898f\u6a21\u306e\u30d5\u30a1\u30f3\u30c9\u3082\u767b\u5834\u3059\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u300c\u30d5\u30a1\u30f3\u30c9\u306e\u5927\u578b\u5316\u300d\u3068\u300c\u6295\u8cc7\u5148\u4f01\u696d\u306e\u5897\u52a0\u300d\u304c\u3001VC\u696d\u754c\u306b\u304a\u3051\u308b\u6df1\u523b\u306a\u4eba\u6750\u4e0d\u8db3\u3092\u62db\u3044\u3066\u3044\u307e\u3059\u3002\u3053\u3053\u3067\u306f\u307e\u305a\u3001\u73fe\u5728\u306eVC\u8ee2\u8077\u5e02\u5834\u3092\u7406\u89e3\u3059\u308b\u305f\u3081\u306e3\u3064\u306e\u91cd\u8981\u30c8\u30ec\u30f3\u30c9\u3068\u3001VC\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1-1. \u306a\u305c\u4eca\u3001VC\u306e\u63a1\u7528\u304c\u6d3b\u767a\u5316\u3057\u3066\u3044\u308b\u306e\u304b\uff1f<\/h3>\n\n\n\n<p>VC\u306e\u63a1\u7528\u304c\u6025\u62e1\u5927\u3057\u3066\u3044\u308b\u80cc\u666f\u306b\u306f\u3001\u4ee5\u4e0b\u306e3\u3064\u306e\u793e\u4f1a\u7684\u30fb\u69cb\u9020\u7684\u8981\u56e0\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u653f\u5e9c\u306b\u3088\u308b\u5f37\u529b\u306a\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u652f\u63f4\u653f\u7b56:<\/strong>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3078\u306e\u6295\u8cc7\u984d\u309210\u5146\u5186\u898f\u6a21\u3078\u3068\u5f15\u304d\u4e0a\u3052\u308b\u653f\u5e9c\u306e\u76ee\u6a19\u306b\u4f34\u3044\u3001\u5b98\u6c11\u30d5\u30a1\u30f3\u30c9\u3084\u653f\u5e9c\u7cfb\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u6c11\u9593VC\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u304c\u52a0\u901f\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>CVC\uff08\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff09\u306e\u7206\u767a\u7684\u5897\u52a0:<\/strong>\u5927\u624b\u4e8b\u696d\u4f1a\u793e\u304c\u81ea\u793e\u306e\u30aa\u30fc\u30d7\u30f3\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u3084\u65b0\u898f\u4e8b\u696d\u5275\u51fa\u3092\u76ee\u7684\u306b\u3001\u72ec\u81ea\u306bCVC\u3092\u8a2d\u7acb\u3059\u308b\u30b1\u30fc\u30b9\u304c\u6025\u5897\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u91d1\u878d\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9\u3092\u6301\u305f\u306a\u3044\u4e8b\u696d\u4f1a\u793e\u767a\u306eVC\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u5927\u91cf\u306b\u751f\u307e\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30cf\u30f3\u30ba\u30aa\u30f3\u652f\u63f4\uff08\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\uff09\u306e\u91cd\u8981\u6027\u306e\u9ad8\u307e\u308a:<\/strong>\u5358\u306b\u8cc7\u91d1\u3092\u4f9b\u7d66\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u6295\u8cc7\u5148\u306e\u7d4c\u55b6\u6226\u7565\u3001\u63a1\u7528\u3001\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u3001\u55b6\u696d\u3001\u8ca1\u52d9\u306a\u3069\u3001\u3042\u3089\u3086\u308b\u9762\u3067\u4f34\u8d70\u3059\u308b\u300c\u30cf\u30f3\u30ba\u30aa\u30f3\u578b\u300d\u306e\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u304c\u4e3b\u6d41\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u6295\u8cc7\u3092\u5b9f\u884c\u3059\u308b\u300c\u6295\u8cc7\u62c5\u5f53\u8005\uff08\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\uff09\u300d\u3060\u3051\u3067\u306a\u304f\u3001\u6295\u8cc7\u5148\u306e\u6210\u9577\u3092\u5b9f\u52d9\u9762\u3067\u652f\u63f4\u3059\u308b\u300c\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\u5c02\u9580\u4eba\u6750\u300d\u306e\u30cb\u30fc\u30ba\u304c\u6025\u9a30\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">1-2. VC\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3068\u300c\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u300d\u306e\u5f79\u5272<\/h3>\n\n\n\n<p>VC\u3078\u8ee2\u8077\u3092\u5fd7\u3059\u4e0a\u3067\u3001\u5f7c\u3089\u304c\u3069\u306e\u3088\u3046\u306b\u5229\u76ca\u3092\u4e0a\u3052\u3066\u3044\u308b\u306e\u304b\uff08\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\uff09\u3092\u6b63\u78ba\u306b\u7406\u89e3\u3057\u3066\u304a\u304f\u3053\u3068\u306f\u4e0d\u53ef\u6b20\u3067\u3059\u3002VC\u306e\u53ce\u76ca\u6e90\u306f\u3001\u4e3b\u306b\u4ee5\u4e0b\u306e2\u3064\u3067\u69cb\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>$$\\text{VC\u306e\u7dcf\u53ce\u76ca} = \\text{\u7ba1\u7406\u5831\u916c\uff08Management Fee\uff09} + \\text{\u6210\u529f\u5831\u916c\uff08Carried Interest\uff09}$$<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7ba1\u7406\u5831\u916c\uff08Management Fee\uff09:<\/strong>\u30d5\u30a1\u30f3\u30c9\u306e\u7dcf\u904b\u7528\u6b8b\u9ad8\uff08AUM\uff09\u306b\u5bfe\u3057\u3066\u3001\u4e00\u822c\u7684\u306b\u5e74\u73872.0%\u301c2.5%\u7a0b\u5ea6\u304c\u652f\u6255\u308f\u308c\u307e\u3059\u3002\u3053\u308c\u306fVC\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u55b6\u3059\u308b\u305f\u3081\u306e\u4eba\u4ef6\u8cbb\u3084\u30aa\u30d5\u30a3\u30b9\u306e\u7dad\u6301\u8cbb\u3001\u8abf\u67fb\u8cbb\u306a\u3069\u306e\u56fa\u5b9a\u8cbb\u306b\u5145\u3066\u3089\u308c\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u6210\u529f\u5831\u916c\uff08Carried Interest \/ \u30ad\u30e3\u30ea\u30fc\uff09:<\/strong>\u6295\u8cc7\u3057\u305f\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u304cIPO\uff08\u682a\u5f0f\u516c\u958b\uff09\u3084M&amp;A\uff08\u4f01\u696d\u8cb7\u53ce\uff09\u306b\u3088\u3063\u3066\u30a8\u30b0\u30b8\u30c3\u30c8\uff08\u5229\u76ca\u78ba\u5b9a\uff09\u3057\u305f\u969b\u3001\u51fa\u8cc7\u8005\uff08LP\uff1a\u30ea\u30df\u30c6\u30c3\u30c9\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\uff09\u3078\u306e\u539f\u8cc7\u8fd4\u9084\u5f8c\u306b\u6b8b\u3063\u305f\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\uff08\u58f2\u5374\u76ca\uff09\u306e\u7d0420%\u304c\u3001GP\uff08\u30bc\u30cd\u30e9\u30eb\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\uff1aVC\u306e\u904b\u55b6\u5074\uff09\u306b\u6210\u529f\u5831\u916c\u3068\u3057\u3066\u914d\u5206\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306f\u3001\u3053\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3092\u56de\u3059\u305f\u3081\u306b\u3001\u4ee5\u4e0b\u306e4\u3064\u306e\u30d5\u30a7\u30fc\u30ba\uff08\u6295\u8cc7\u30b5\u30a4\u30af\u30eb\uff09\u3092\u7d76\u3048\u9593\u306a\u304f\u5b9f\u884c\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>\u30d5\u30a7\u30fc\u30ba<\/strong><\/td><td><strong>\u696d\u52d9\u5185\u5bb9<\/strong><\/td><td><strong>\u6c42\u3081\u3089\u308c\u308b\u30b3\u30a2\u30b9\u30ad\u30eb<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>\u2460 \u30bd\u30fc\u30b7\u30f3\u30b0 (Sourcing)<\/strong><\/td><td>\u6295\u8cc7\u5019\u88dc\u3068\u306a\u308b\u6709\u671b\u306a\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3092\u767a\u898b\u30fb\u767a\u6398\u3059\u308b\u3002\u8d77\u696d\u5bb6\u3068\u306e\u4eba\u8108\u69cb\u7bc9\u3001\u30a4\u30d9\u30f3\u30c8\u767b\u58c7\u3001SNS\u6d3b\u7528\u306a\u3069\u3002<\/td><td>\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u80fd\u529b\u3001\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u69cb\u7bc9\u529b\u3001\u884c\u52d5\u529b<\/td><\/tr><tr><td><strong>\u2461 \u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9 (DD)<\/strong><\/td><td>\u6295\u8cc7\u691c\u8a0e\u4f01\u696d\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3001\u5e02\u5834\u898f\u6a21\u3001\u8ca1\u52d9\u72b6\u6cc1\u3001\u6cd5\u52d9\u3001\u6280\u8853\u7684\u306a\u512a\u4f4d\u6027\u3092\u7cbe\u67fb\u30fb\u8a55\u4fa1\u3059\u308b\u3002<\/td><td>\u8ca1\u52d9\u5206\u6790\u529b\u3001\u5e02\u5834\u30ea\u30b5\u30fc\u30c1\u529b\u3001\u6280\u8853\u30fb\u696d\u754c\u306e\u5c02\u9580\u77e5\u8b58<\/td><\/tr><tr><td><strong>\u2462 \u30a8\u30b0\u30bc\u30ad\u30e5\u30fc\u30b7\u30e7\u30f3 (Execution)<\/strong><\/td><td>\u6295\u8cc7\u6761\u4ef6\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3001\u5951\u7d04\u66f8\uff09\u306e\u4ea4\u6e09\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u3067\u306e\u627f\u8a8d\u7372\u5f97\u3001\u51fa\u91d1\u624b\u7d9a\u304d\u3002<\/td><td>\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30fb\u6cd5\u52d9\u77e5\u8b58\u3001\u30bf\u30d5\u306a\u4ea4\u6e09\u529b<\/td><\/tr><tr><td><strong>\u2463 \u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7 \/ \u30e2\u30cb\u30bf\u30ea\u30f3\u30b0<\/strong><\/td><td>\u6295\u8cc7\u5b9f\u884c\u5f8c\u3001\u7d4c\u55b6\u9663\u306b\u4f34\u8d70\u3057\u3066\u58f2\u4e0a\u62e1\u5927\u3001\u7d44\u7e54\u69cb\u7bc9\u3001\u63a1\u7528\u3001\u6b21\u56de\u30e9\u30a6\u30f3\u30c9\u306e\u8cc7\u91d1\u8abf\u9054\u3001\u30a8\u30b0\u30b8\u30c3\u30c8\uff08IPO\/M&amp;A\uff09\u306e\u652f\u63f4\u3092\u884c\u3046\u3002<\/td><td>\u7d4c\u55b6\u30b9\u30ad\u30eb\u3001\u30cf\u30f3\u30ba\u30aa\u30f3\u652f\u63f4\u80fd\u529b\u3001\u8ab2\u984c\u89e3\u6c7a\u529b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">2. VC\u306e\u7a2e\u985e\u3068\u305d\u308c\u305e\u308c\u306e\u63a1\u7528\u7279\u5fb4<\/h2>\n\n\n\n<p>\u4e00\u53e3\u306b\u300c\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u300d\u3068\u8a00\u3063\u3066\u3082\u3001\u305d\u306e\u6bcd\u4f53\u3084\u8a2d\u7acb\u76ee\u7684\u306b\u3088\u3063\u3066\u6027\u8cea\u306f\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002\u30b3\u30c8\u30e9\u306e\u6c42\u4eba\u6848\u4ef6\u3092\u898b\u3066\u3082\u3001\u3069\u306e\u7a2e\u985e\u306eVC\u304b\u306b\u3088\u3063\u3066\u3001\u6c42\u3081\u308b\u4eba\u7269\u50cf\u3001\u30ab\u30eb\u30c1\u30e3\u30fc\u3001\u5e74\u53ce\u4f53\u7cfb\u3001\u305d\u3057\u3066\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u304c\u660e\u78ba\u306b\u5206\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e3b\u8981\u306a4\u3064\u306eVC\u30bf\u30a4\u30d7\u306b\u3064\u3044\u3066\u3001\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4\u3092\u5206\u6790\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-1. \u72ec\u7acb\u7cfbVC<\/h3>\n\n\n\n<p>\u7279\u5b9a\u306e\u89aa\u4f1a\u793e\u3092\u6301\u305f\u305a\u3001\u72ec\u81ea\u306e\u30d5\u30a1\u30f3\u30c9\u3092\u7d44\u6210\u3057\u3066\u904b\u7528\u3059\u308bVC\u3067\u3059\uff08\u4f8b\uff1aJAFCO\u3001\u30a4\u30f3\u30ad\u30e5\u30d9\u30a4\u30c8\u30d5\u30a1\u30f3\u30c9\u3001\u30b0\u30ed\u30fc\u30d3\u30b9\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba\u3001ANRI\u306a\u3069\uff09\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u6295\u8cc7\u306e\u610f\u601d\u6c7a\u5b9a\u30b9\u30d4\u30fc\u30c9\u304c\u5727\u5012\u7684\u306b\u901f\u304f\u3001\u7d14\u7c8b\u306a\u7d4c\u6e08\u7684\u30ea\u30bf\u30fc\u30f3\uff08\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30ea\u30bf\u30fc\u30f3\uff09\u3092\u5fb9\u5e95\u7684\u306b\u8ffd\u6c42\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u63a1\u7528\u50be\u5411:<\/strong> \u91d1\u878d\uff08\u6295\u8cc7\u9280\u884c\u30fbPE\uff09\u3001\u6226\u7565\u30b3\u30f3\u30b5\u30eb\u3001\u307e\u305f\u306f\u30e1\u30ac\u30d9\u30f3\u30c1\u30e3\u30fc\u306eCxO\u3084\u30b7\u30ea\u30a2\u30eb\u30a2\u30f3\u30c8\u30ec\u30d7\u30ec\u30ca\u30fc\u306a\u3069\u3001\u30c8\u30c3\u30d7\u30af\u30e9\u30b9\u306e\u30d3\u30b8\u30cd\u30b9\u30a8\u30ea\u30fc\u30c8\u304c\u96c6\u307e\u308b\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9b45\u529b:<\/strong> \u30a8\u30b0\u30b8\u30c3\u30c8\u6642\u306e\u6210\u529f\u5831\u916c\uff08\u30ad\u30e3\u30ea\u30fc\uff09\u304c\u500b\u4eba\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306b\u9023\u52d5\u3057\u3084\u3059\u3044\u305f\u3081\u3001\u500b\u4eba\u306e\u5b9f\u529b\u6b21\u7b2c\u3067\u6570\u5343\u4e07\u5186\u301c\u6570\u5104\u5186\u898f\u6a21\u306e\u83ab\u5927\u306a\u5831\u916c\u3092\u5f97\u3089\u308c\u308b\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2-2. CVC\uff08\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff09<\/h3>\n\n\n\n<p>\u4e8b\u696d\u4f1a\u793e\u304c\u81ea\u793e\u306e\u8cc7\u91d1\u3092\u6d3b\u7528\u3057\u3001\u672c\u696d\u3068\u306e\u30b7\u30ca\u30b8\u30fc\uff08\u76f8\u4e57\u52b9\u679c\uff09\u5275\u51fa\u3084\u65b0\u898f\u4e8b\u696d\u306e\u958b\u767a\u3092\u76ee\u7684\u306b\u8a2d\u7acb\u3059\u308bVC\u3067\u3059\uff08\u4f8b\uff1a\u30bd\u30cb\u30fc\u3001\u30c8\u30e8\u30bf\u3001NTT\u30c9\u30b3\u30e2\u3001KDDI\u306a\u3069\u306e\u5927\u624b\u4f01\u696d\u7cfb\u30d5\u30a1\u30f3\u30c9\uff09\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u7d4c\u6e08\u7684\u30ea\u30bf\u30fc\u30f3\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u81ea\u793e\u306e\u4e8b\u696d\u3068\u3069\u3046\u9023\u643a\u3067\u304d\u308b\u304b\u300d\u3068\u3044\u3046\u6226\u7565\u7684\u30ea\u30bf\u30fc\u30f3\uff08\u30b9\u30c8\u30e9\u30c6\u30b8\u30c3\u30af\u30ea\u30bf\u30fc\u30f3\uff09\u3092\u6975\u3081\u3066\u91cd\u8996\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u63a1\u7528\u50be\u5411:<\/strong> \u91d1\u878d\u51fa\u8eab\u8005\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u7279\u5b9a\u306e\u696d\u754c\uff08IT\u3001\u88fd\u9020\u696d\u3001\u30e1\u30c7\u30a3\u30ab\u30eb\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u7b49\uff09\u306b\u7cbe\u901a\u3057\u305f\u4e8b\u696d\u4f1a\u793e\u51fa\u8eab\u8005\u300d\u3092\u7a4d\u6975\u7684\u306b\u63a1\u7528\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9b45\u529b:<\/strong> \u89aa\u4f1a\u793e\u306e\u5f37\u529b\u306a\u30a2\u30bb\u30c3\u30c8\uff08\u6280\u8853\u3001\u8ca9\u58f2\u7db2\u3001\u30d6\u30e9\u30f3\u30c9\u529b\uff09\u3092\u6d3b\u7528\u3057\u3066\u6295\u8cc7\u5148\u3092\u5f37\u529b\u306b\u30d0\u30c3\u30af\u30a2\u30c3\u30d7\u3067\u304d\u308b\u70b9\u3084\u3001\u89aa\u4f1a\u793e\u306e\u7d66\u4e0e\u30fb\u798f\u5229\u539a\u751f\u306b\u6e96\u3058\u308b\u3053\u3068\u304c\u591a\u3044\u305f\u3081\u3001\u5b89\u5b9a\u3057\u305f\u74b0\u5883\u3067\u30cf\u30a4\u30af\u30e9\u30b9\u306a\u6295\u8cc7\u696d\u52d9\u306b\u643a\u308f\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2-3. \u91d1\u878d\u6a5f\u95a2\u7cfbVC<\/h3>\n\n\n\n<p>\u9280\u884c\u3001\u8a3c\u5238\u4f1a\u793e\u3001\u4fdd\u967a\u4f1a\u793e\u306a\u3069\u306e\u5927\u624b\u91d1\u878d\u30b0\u30eb\u30fc\u30d7\u5098\u4e0b\u306eVC\u3067\u3059\uff08\u4f8b\uff1aSMBC\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u3001\u307f\u305a\u307b\u30ad\u30e3\u30d4\u30bf\u30eb\u3001\u4e09\u83f1UFJ\u30ad\u30e3\u30d4\u30bf\u30eb\u3001SBI\u30a4\u30f3\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\u306a\u3069\uff09\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u89aa\u4f1a\u793e\u304b\u3089\u306e\u5b89\u5b9a\u3057\u305f\u8cc7\u91d1\u4f9b\u7d66\u304c\u3042\u308a\u3001\u30d5\u30a1\u30f3\u30c9\u898f\u6a21\u304c\u5927\u304d\u3044\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002\u307e\u305f\u3001\u89aa\u4f1a\u793e\u306e\u53d6\u5f15\u5148\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u7db2\u7f85\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u30bd\u30fc\u30b7\u30f3\u30b0\u529b\u3084\u6295\u8cc7\u5148\u306e\u8ca9\u8def\u62e1\u5927\u652f\u63f4\u306b\u304a\u3044\u3066\u5727\u5012\u7684\u306a\u512a\u4f4d\u6027\u3092\u6301\u3061\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u63a1\u7528\u50be\u5411:<\/strong> \u30b0\u30eb\u30fc\u30d7\u5185\u304b\u3089\u306e\u51fa\u5411\u7d44\u3082\u4e00\u5b9a\u6570\u3044\u307e\u3059\u304c\u3001\u30df\u30c9\u30eb\u301c\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\uff08\u4e0a\u5834\u9593\u8fd1\u306e\u6210\u719f\u3057\u305f\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\uff09\u3078\u306e\u6295\u8cc7\u3084IPO\u652f\u63f4\uff08\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\u95a2\u9023\uff09\u3092\u5f37\u5316\u3059\u308b\u305f\u3081\u3001\u6295\u8cc7\u9280\u884c\u51fa\u8eab\u8005\u3084\u8a3c\u5238\u4f1a\u793e\u306e\u516c\u958b\u5f15\u53d7\u90e8\u9580\u51fa\u8eab\u306e\u4e2d\u9014\u63a1\u7528\u3092\u5897\u3084\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9b45\u529b:<\/strong> \u629c\u7fa4\u306e\u5b89\u5b9a\u6027\u3068\u793e\u4f1a\u7684\u4fe1\u7528\u3001\u305d\u3057\u3066\u8c4a\u5bcc\u306a\u6295\u8cc7\u5b9f\u7e3e\u3092\u30d0\u30c3\u30af\u306b\u3001\u30c0\u30a4\u30ca\u30df\u30c3\u30af\u306a\u5927\u578b\u6295\u8cc7\u306b\u95a2\u308f\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2-4. \u653f\u5e9c\u7cfb\u30fb\u5927\u5b66\u5b98\u6c11VC<\/h3>\n\n\n\n<p>\u56fd\u3084\u5730\u65b9\u81ea\u6cbb\u4f53\u3001\u3042\u308b\u3044\u306f\u5927\u5b66\u306e\u6280\u8853\u306e\u5546\u696d\u5316\u3092\u76ee\u7684\u306b\u8a2d\u7acb\u3055\u308c\u305fVC\u3067\u3059\uff08\u4f8b\uff1aINCJ\uff08\u65e7\u7523\u696d\u9769\u65b0\u6a5f\u69cb\uff09\u3001DBJ\u30ad\u30e3\u30d4\u30bf\u30eb\u3001\u6771\u4eac\u5927\u5b66\u30a8\u30c3\u30b8\u30ad\u30e3\u30d4\u30bf\u30eb\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba\uff08UTEC\uff09\u3001\u4eac\u90fd\u5927\u5b66\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u30ad\u30e3\u30d4\u30bf\u30eb\uff08KYOTO-iCAP\uff09\u306a\u3069\uff09\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\uff08\u5b87\u5b99\u3001\u30d0\u30a4\u30aa\u3001\u91cf\u5b50\u3001\u30ed\u30dc\u30c6\u30a3\u30af\u30b9\u3001\u65b0\u7d20\u6750\u306a\u3069\uff09\u3001\u7814\u7a76\u958b\u767a\u578b\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306a\u3069\u3001\u6c11\u9593VC\u3060\u3051\u3067\u306f\u30ea\u30b9\u30af\u3092\u53d6\u308a\u304d\u308c\u306a\u3044\u3001\u4e2d\u9577\u671f\u306e\u80b2\u6210\u304c\u5fc5\u8981\u306a\u793e\u4f1a\u7684\u610f\u7fa9\u306e\u9ad8\u3044\u9818\u57df\u3078\u306e\u6295\u8cc7\u304c\u30e1\u30a4\u30f3\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u63a1\u7528\u50be\u5411:<\/strong> \u7406\u7cfb\u30fb\u533b\u85ac\u7cfb\u306e\u535a\u58eb\u53f7\uff08Ph.D.\uff09\u4fdd\u6301\u8005\u3001\u7814\u7a76\u8077\u51fa\u8eab\u8005\u3001\u30d1\u30d6\u30ea\u30c3\u30af\u30bb\u30af\u30bf\u30fc\u3084\u77e5\u8ca1\u306b\u95a2\u3059\u308b\u5c02\u9580\u77e5\u8b58\u3092\u6301\u3064\u4eba\u6750\u304c\u5f37\u304f\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9b45\u529b:<\/strong> \u65e5\u672c\u306e\u6280\u8853\u529b\u3092\u4e16\u754c\u3078\u7fbd\u3070\u305f\u304b\u305b\u308b\u3068\u3044\u3046\u3001\u6975\u3081\u3066\u516c\u5171\u6027\u304c\u9ad8\u304f\u30ed\u30de\u30f3\u306e\u3042\u308b\u6295\u8cc7\u696d\u52d9\u306b\u643a\u308f\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u306e\u5e74\u53ce\u6c34\u6e96\u3068\u5831\u916c\u4f53\u7cfb<\/h2>\n\n\n\n<p>\u30cf\u30a4\u30af\u30e9\u30b9\u8ee2\u8077\u306e\u4ee3\u8868\u683c\u3067\u3042\u308bVC\u3067\u3059\u304c\u3001\u305d\u306e\u7d66\u4e0e\u4f53\u7cfb\u306f\u975e\u5e38\u306b\u7279\u6b8a\u3067\u3042\u308a\u3001\u4e00\u6982\u306b\u300c\u4e00\u5f8b\u3067\u3044\u304f\u3089\u300d\u3068\u8a00\u3046\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002\u57fa\u672c\u7684\u306b\u306f\u4ee5\u4e0b\u306e\u8981\u7d20\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u5e74\u53ce\u304c\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-1. \u8077\u4f4d\uff08\u5f79\u8077\uff09\u5225\u306e\u63a8\u5b9a\u5e74\u53ce\u30ec\u30f3\u30b8<\/h3>\n\n\n\n<p>\u30b3\u30c8\u30e9\u306e\u6c42\u4eba\u30c7\u30fc\u30bf\u3084\u696d\u754c\u306e\u4e00\u822c\u7684\u306a\u5b9f\u52e2\u30ec\u30fc\u30c8\u3092\u57fa\u306b\u3001VC\u696d\u754c\u306e\u5f79\u8077\u5225\u5e74\u53ce\u30ec\u30f3\u30b8\u3092\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>\u8077\u4f4d\uff08\u30bf\u30a4\u30c8\u30eb\uff09<\/strong><\/td><td><strong>\u5e73\u5747\u7684\u306a\u5e74\u9f62\u5c64<\/strong><\/td><td><strong>\u63a8\u5b9a\u5e74\u53ce\u30ec\u30f3\u30b8\uff08\u30d9\u30fc\u30b9\uff0b\u8cde\u4e0e\uff09<\/strong><\/td><td><strong>\u4e3b\u306a\u5f79\u5272\u3068\u696d\u52d9\u7bc4\u56f2<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>\u30a2\u30ca\u30ea\u30b9\u30c8 (Analyst)<\/strong><\/td><td>20\u4ee3\u4e2d\u76e4\u301c\u5f8c\u534a<\/td><td><strong>600\u4e07\u301c900\u4e07\u5186<\/strong><\/td><td>\u30bd\u30fc\u30b7\u30f3\u30b0\u306e\u4e00\u6b21\u30b9\u30af\u30ea\u30fc\u30cb\u30f3\u30b0\u3001\u5e02\u5834\u30fb\u7af6\u5408\u30ea\u30b5\u30fc\u30c1\u3001\u5404\u7a2e\u30c7\u30fc\u30bf\u5206\u6790\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u306e\u8cc7\u6599\u4f5c\u6210\u306a\u3069\u306e\u30b5\u30dd\u30fc\u30c8\u696d\u52d9\u3002<\/td><\/tr><tr><td><strong>\u30a2\u30bd\u30b7\u30a8\u30a4\u30c8 (Associate)<\/strong><\/td><td>20\u4ee3\u5f8c\u534a\u301c30\u4ee3\u524d\u534a<\/td><td><strong>800\u4e07\u301c1,500\u4e07\u5186<\/strong><\/td><td>\u81ea\u4e3b\u7684\u306a\u30bd\u30fc\u30b7\u30f3\u30b0\u3001\u521d\u671f\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3001\u6295\u8cc7\u30c9\u30ad\u30e5\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u3001\u6295\u8cc7\u5148\u4f01\u696d\u306e\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\u5b9f\u52d9\u306e\u62c5\u5f53\u3002<\/td><\/tr><tr><td><strong>\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb (Principal)<\/strong><\/td><td>30\u4ee3\u524d\u534a\u301c40\u4ee3\u524d\u534a<\/td><td><strong>1,200\u4e07\u301c2,500\u4e07\u5186<\/strong><\/td><td>\u6295\u8cc7\u5b9f\u884c\u306e\u6700\u7d42\u5224\u65ad\u306e\u624b\u524d\u307e\u3067\uff08\u30c7\u30a3\u30fc\u30eb\u30ea\u30fc\u30c9\uff09\u3092\u727d\u5f15\u3002\u30bd\u30fc\u30b7\u30f3\u30b0\u304b\u3089\u30a8\u30b0\u30bc\u30ad\u30e5\u30fc\u30b7\u30e7\u30f3\u3001\u58f2\u5374\u307e\u3067\u306e\u5168\u8cac\u4efb\u3092\u6301\u3064\u3002<\/td><\/tr><tr><td><strong>\u30d1\u30fc\u30c8\u30ca\u30fc \/ GP (General Partner)<\/strong><\/td><td>30\u4ee3\u5f8c\u534a\u301c50\u4ee3<\/td><td><strong>2,000\u4e07\u5186\u301c\uff0b\u30ad\u30e3\u30ea\u30fc\uff08\u4e0a\u9650\u306a\u3057\uff09<\/strong><\/td><td>VC\u30d5\u30a1\u30f3\u30c9\u306e\u5171\u540c\u7d4c\u55b6\u8005\u3002LP\uff08\u6295\u8cc7\u5bb6\uff09\u304b\u3089\u306e\u8cc7\u91d1\u8abf\u9054\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u306e\u6700\u7d42\u610f\u601d\u6c7a\u5b9a\u3001VC\u30d5\u30a1\u30f3\u30c9\u81ea\u4f53\u306e\u7d4c\u55b6\u30fb\u6226\u7565\u7b56\u5b9a\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83d\udca1 <strong>\u30b3\u30c8\u30e9\u30b8\u30e3\u30fc\u30ca\u30eb\u30fb\u30a4\u30f3\u30b5\u30a4\u30c8\uff1a<\/strong><\/p>\n\n\n\n<p>\u72ec\u7acb\u7cfbVC\u3084\u30d6\u30c6\u30a3\u30c3\u30af\u578b\u30d5\u30a1\u30f3\u30c9\u306e\u5834\u5408\u3001\u4e0a\u8a18\u306e\u300c\u30d9\u30fc\u30b9\u7d66\uff08\u56fa\u5b9a\u7d66\uff09\u300d\u306b\u52a0\u3048\u3066\u3001\u30d5\u30a1\u30f3\u30c9\u306e\u30a8\u30b0\u30b8\u30c3\u30c8\u5b9f\u7e3e\u306b\u5fdc\u3058\u305f**\u300c\u6210\u529f\u5831\u916c\uff08\u30ad\u30e3\u30ea\u30fc\uff09\u300d**\u304c\u52a0\u7b97\u3055\u308c\u307e\u3059\u3002\u30d5\u30a1\u30f3\u30c9\u304c\u9806\u8abf\u306b\u904b\u7528\u3055\u308c\u3001\u6295\u8cc7\u5148\u304c\u5927\u578bIPO\u3084\u6570\u5341\u5104\u5186\u898f\u6a21\u306eM&amp;A\u3092\u9054\u6210\u3057\u305f\u5834\u5408\u3001\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb\u4ee5\u4e0a\u3067\u3042\u308c\u30701\u56de\u306e\u30a8\u30b0\u30b8\u30c3\u30c8\u3067\u6570\u5343\u4e07\u5186\u3001\u30d1\u30fc\u30c8\u30ca\u30fc\u3067\u3042\u308c\u3070\u6570\u5104\u5186\u306e\u30dc\u30fc\u30ca\u30b9\u304c\u652f\u6255\u308f\u308c\u308b\u30b1\u30fc\u30b9\u3082\u5b9f\u5728\u3057\u307e\u3059\u3002\u9006\u306b\u3001CVC\u3084\u91d1\u878d\u6a5f\u95a2\u7cfbVC\u306e\u5834\u5408\u306f\u3001\u30ad\u30e3\u30ea\u30fc\u306e\u6bd4\u7387\u304c\u4f4e\u3044\u3001\u3042\u308b\u3044\u306f\u5168\u304f\u306a\u3044\u4ee3\u308f\u308a\u306b\u3001\u30d9\u30fc\u30b9\u7d66\u304c\u9ad8\u304f\u3001\u89aa\u4f1a\u793e\u306e\u5b89\u5b9a\u3057\u305f\u8cde\u4e0e\u30c6\u30fc\u30d6\u30eb\u304c\u9069\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u3068\u3044\u3046\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">4. VC\u3078\u306e\u8ee2\u8077\u3067\u5f37\u304f\u6c42\u3081\u3089\u308c\u308b\u300c4\u3064\u306e\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9\u300d<\/h2>\n\n\n\n<p>VC\u696d\u754c\u306f\u57fa\u672c\u7684\u306b\u5373\u6226\u529b\u63a1\u7528\u3067\u3059\u3002\u300c\u8d77\u696d\u5bb6\u3092\u652f\u63f4\u3057\u305f\u3044\u300d\u3068\u3044\u3046\u71b1\u610f\u3060\u3051\u3067\u63a1\u7528\u3055\u308c\u308b\u3053\u3068\u306f\u307e\u305a\u3042\u308a\u307e\u305b\u3093\u3002\u30b3\u30c8\u30e9\u306e\u516c\u958b\u30fb\u975e\u516c\u958b\u6c42\u4eba\u3092\u5206\u6790\u3059\u308b\u3068\u3001VC\u304c\u4e2d\u9014\u63a1\u7528\u3067\u6b32\u3057\u304c\u308b\u4eba\u6750\u306f\u3001\u4e3b\u306b\u4ee5\u4e0b\u306e4\u3064\u306e\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9\u306b\u96c6\u7d04\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4-1. \u91d1\u878d\u6a5f\u95a2\u51fa\u8eab\u8005\uff08\u6295\u8cc7\u9280\u884c\u3001PE\u30d5\u30a1\u30f3\u30c9\u3001\u8a3c\u5238\u4f1a\u793e\u3001\u30e1\u30ac\u30d0\u30f3\u30af\uff09<\/h3>\n\n\n\n<p>\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u306f\u3001\u3059\u3079\u3066\u306eVC\u306b\u304a\u3044\u3066\u5e38\u306b\u6700\u9ad8\u30e9\u30f3\u30af\u306e\u8a55\u4fa1\u3092\u53d7\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u51fa\u8eab\u5143\u306e\u8077\u7a2e:<\/strong> \u6295\u8cc7\u9280\u884c\uff08IBD\uff09\u3001PE\u30d5\u30a1\u30f3\u30c9\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30a8\u30af\u30a4\u30c6\u30a3\uff09\u3001\u8a3c\u5238\u4f1a\u793e\u306e\u516c\u958b\u5f15\u53d7\u90e8\u9580\u30fbM&amp;A\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc\u90e8\u9580\u3001\u30e1\u30ac\u30d0\u30f3\u30af\u306e\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u30c9\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3084\u5927\u4f01\u696d\u55b6\u696d\u3002<\/li>\n\n\n\n<li><strong>\u5f37\u307f:<\/strong> \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3078\u306e\u6df1\u3044\u7406\u89e3\u3001\u8ca1\u52d9\u30e2\u30c7\u30ea\u30f3\u30b0\uff08DCF\u6cd5\u3084\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\u306a\u3069\u3092\u7528\u3044\u305f\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u3001\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306e\u7d4c\u9a13\u3001\u5951\u7d04\u66f8\u7de0\u7d50\uff08\u30a8\u30b0\u30bc\u30ad\u30e5\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u5b9f\u52d9\u80fd\u529b\u3002<\/li>\n\n\n\n<li><strong>VC\u3067\u306e\u6d3b\u8e8d\u30d5\u30a3\u30fc\u30eb\u30c9:<\/strong> \u30df\u30c9\u30eb\u301c\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\uff08\u4e0a\u5834\u524d\u5f8c\u306e\u6210\u719f\u671f\uff09\u306e\u5927\u578b\u30c7\u30a3\u30fc\u30eb\u3001\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u69cb\u9020\u306e\u69cb\u7bc9\u3001IPO\u306b\u5411\u3051\u305f\u8a3c\u5238\u4f1a\u793e\u30fb\u6771\u8a3c\u3068\u306e\u6298\u885d\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4-2. \u6226\u7565\u30fb\u7dcf\u5408\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u51fa\u8eab\u8005<\/h3>\n\n\n\n<p>\u69cb\u9020\u5316\u80fd\u529b\u3068\u8ab2\u984c\u89e3\u6c7a\u80fd\u529b\u306b\u9577\u3051\u305f\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u3082\u3001VC\u696d\u754c\u3067\u975e\u5e38\u306b\u91cd\u5b9d\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u51fa\u8eab\u30d5\u30a1\u30fc\u30e0:<\/strong> \u30de\u30c3\u30ad\u30f3\u30bc\u30fc\u3001BCG\u3001\u30d9\u30a4\u30f3\u306a\u3069\u306e\u6226\u7565\u30d5\u30a1\u30fc\u30e0\u3001\u307e\u305f\u306fBig4\uff08Deloitte\u3001PwC\u3001EY\u3001KPMG\uff09\u306a\u3069\u306e\u7dcf\u5408\u30d5\u30a1\u30fc\u30e0\u306e\u6226\u7565\u30fbFAS\u90e8\u9580\u3002<\/li>\n\n\n\n<li><strong>\u5f37\u307f:<\/strong> \u5fb9\u5e95\u7684\u306a\u5e02\u5834\u30ea\u30b5\u30fc\u30c1\uff08TAM\/SAM\/SOM\u306e\u7b97\u51fa\uff09\u3001\u7af6\u5408\u5206\u6790\u3001\u6295\u8cc7\u5148\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u7d4c\u55b6\u6226\u7565\u30fbPMI\uff08\u30dd\u30b9\u30c8\u30fb\u30de\u30fc\u30b8\u30fb\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u7b56\u5b9a\u3001\u7d44\u7e54\u30fb\u63a1\u7528\u306e\u4ed5\u7d44\u307f\u5316\u3002<\/li>\n\n\n\n<li><strong>VC\u3067\u306e\u6d3b\u8e8d\u30d5\u30a3\u30fc\u30eb\u30c9:<\/strong> \u4e3b\u306b\u6295\u8cc7\u5b9f\u884c\u5f8c\u306e\u300c\u30cf\u30f3\u30ba\u30aa\u30f3\u652f\u63f4\uff08\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\uff09\u300d\u3002\u6210\u9577\u304c\u505c\u6ede\u3057\u3066\u3044\u308b\u6295\u8cc7\u5148\u306b\u5165\u308a\u8fbc\u307f\u3001\u7d4c\u55b6\u9663\u3068\u4e00\u7dd2\u306b\u4e8b\u696d\u3092\u30b0\u30ed\u30fc\u30b9\u3055\u305b\u308b\u5c40\u9762\u3067\u5727\u5012\u7684\u306a\u30d0\u30ea\u30e5\u30fc\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4-3. \u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7CXO\u30fb\u30e1\u30ac\u30d9\u30f3\u30c1\u30e3\u30fc\u51fa\u8eab\u8005<\/h3>\n\n\n\n<p>\u300c\u81ea\u3089\u4e8b\u696d\u3092\u7acb\u3061\u4e0a\u3052\u3001\u62e1\u5927\u3057\u305f\u7d4c\u9a13\u300d\u3092\u6301\u3064\u5b9f\u52d9\u5bb6\u306f\u3001\u8fd1\u5e74\u7279\u306b\u72ec\u7acb\u7cfbVC\u3084\u30b7\u30fc\u30c9\u671f\uff08\u5275\u696d\u671f\uff09\u3092\u30bf\u30fc\u30b2\u30c3\u30c8\u3068\u3059\u308bVC\u304b\u3089\u7d76\u5927\u306a\u652f\u6301\u3092\u5f97\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u51fa\u8eab\u4f01\u696d\u30fb\u8077\u7a2e:<\/strong> \u30ea\u30af\u30eb\u30fc\u30c8\u3001\u30b5\u30a4\u30d0\u30fc\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u3001\u30e1\u30eb\u30ab\u30ea\u306a\u3069\u306e\u30e1\u30ac\u30d9\u30f3\u30c1\u30e3\u30fc\u3067\u306e\u4e8b\u696d\u958b\u767a\uff08BizDev\uff09\u3001\u30d7\u30ed\u30c0\u30af\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\uff08PdM\uff09\u3002\u307e\u305f\u306f\u3001\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u5275\u696d\u30e1\u30f3\u30d0\u30fc\u3001CFO\u3001COO\u3001CHRO\u306a\u3069\u306eCXO\u7d4c\u9a13\u8005\u3002<\/li>\n\n\n\n<li><strong>\u5f37\u307f:<\/strong> \u8d77\u696d\u5bb6\u3068\u540c\u3058\u76ee\u7dda\uff08\u8a00\u8449\u3001\u82e6\u52b4\u3001\u30b9\u30d4\u30fc\u30c9\u611f\uff09\u3067\u4f1a\u8a71\u304c\u3067\u304d\u308b\u5727\u5012\u7684\u306a\u5171\u611f\u529b\u3002\u30d7\u30ed\u30c0\u30af\u30c8\u306e\u30b0\u30ed\u30fc\u30b9\u30cf\u30c3\u30af\u3001\u30bc\u30ed\u30a4\u30c1\u306e\u7d44\u7e54\u3065\u304f\u308a\u3001\u30ea\u30a2\u30eb\u306a\u6ce5\u81ed\u3044\u55b6\u696d\u7d44\u7e54\u306e\u69cb\u7bc9\u3002<\/li>\n\n\n\n<li><strong>VC\u3067\u306e\u6d3b\u8e8d\u30d5\u30a3\u30fc\u30eb\u30c9:<\/strong> \u5275\u696d\u671f\uff08\u30b7\u30fc\u30c9\u30fb\u30a2\u30fc\u30ea\u30fc\uff09\u306e\u30bd\u30fc\u30b7\u30f3\u30b0\u3002\u8d77\u696d\u5bb6\u304b\u3089\u306e\u4fe1\u983c\u3092\u52dd\u3061\u53d6\u308a\u3084\u3059\u304f\u3001\u300c\u3042\u306e\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u304b\u3089\u6295\u8cc7\u3092\u53d7\u3051\u305f\u3044\u300d\u3068\u601d\u308f\u305b\u308b\u5c5e\u4eba\u7684\u306a\u5f37\u307f\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4-4. \u7279\u5b9a\u306e\u6280\u8853\u30fb\u696d\u754c\u306e\u5c02\u9580\u5bb6\uff08\u7406\u7cfb\u535a\u58eb\u3001\u30a8\u30f3\u30b8\u30cb\u30a2\u3001\u30e1\u30c7\u30a3\u30ab\u30eb\u3001\u77e5\u8ca1\uff09<\/h3>\n\n\n\n<p>\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u3084\u30d0\u30a4\u30aa\u3001SaaS\u3001AI\u306a\u3069\u3001\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u306e\u9032\u5316\u304c\u305d\u306e\u307e\u307e\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306b\u76f4\u7d50\u3059\u308b\u9818\u57df\u3067\u306f\u3001\u6280\u8853\u304c\u7406\u89e3\u3067\u304d\u308b\u5c02\u9580\u5bb6\u3067\u306a\u3051\u308c\u3070\u6b63\u3057\u3044\u6295\u8cc7\u5224\u65ad\uff08\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\uff09\u304c\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9:<\/strong> IT\u30a8\u30f3\u30b8\u30cb\u30a2\u3001\u30c7\u30fc\u30bf\u30b5\u30a4\u30a8\u30f3\u30c6\u30a3\u30b9\u30c8\u3001\u88fd\u85ac\u4f1a\u793e\u30fb\u533b\u7642\u6a5f\u95a2\u51fa\u8eab\u8005\uff08\u533b\u5e2b\u3001\u7814\u7a76\u54e1\uff09\u3001\u5927\u5b66\u306e\u7814\u7a76\u8005\u3001\u77e5\u8ca1\u5f01\u8b77\u58eb\u3001\u7279\u8a31\u5e81\u51fa\u8eab\u8005\u3002<\/li>\n\n\n\n<li><strong>\u5f37\u307f:<\/strong> \u8ad6\u6587\u306e\u8aad\u89e3\u529b\u3001\u6700\u5148\u7aef\u6280\u8853\u306e\u5b9f\u73fe\u53ef\u80fd\u6027\uff08\u30d5\u30a3\u30fc\u30b8\u30d3\u30ea\u30c6\u30a3\uff09\u306e\u8a55\u4fa1\u3001\u77e5\u8ca1\u6226\u7565\u306e\u69cb\u7bc9\u3001\u696d\u754c\u7279\u6709\u306e\u898f\u5236\u30fb\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\uff08\u30ec\u30ae\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u628a\u63e1\u3002<\/li>\n\n\n\n<li><strong>VC\u3067\u306e\u6d3b\u8e8d\u30d5\u30a3\u30fc\u30eb\u30c9:<\/strong> \u653f\u5e9c\u7cfbVC\u3001\u5927\u5b66\u767a\u5b98\u6c11VC\u3001\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u7279\u5316\u578b\u30d5\u30a1\u30f3\u30c9\u3002\u6280\u8853\u7684\u306a\u512a\u4f4d\u6027\u3092\u898b\u6975\u3081\u3001\u4e16\u754c\u6a19\u6e96\u306b\u306a\u308a\u5f97\u308b\u6280\u8853\u30b7\u30fc\u30ba\u3092\u767a\u6398\u30fb\u80b2\u6210\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">5. \u3010\u5e74\u4ee3\u5225\u30fb\u672a\u7d4c\u9a13\u5411\u3051\u3011VC\u8ee2\u8077\u3092\u6210\u529f\u3055\u305b\u308b\u5177\u4f53\u7684\u30b9\u30c6\u30c3\u30d7<\/h2>\n\n\n\n<p>\u300c\u91d1\u878d\u3084\u6226\u7565\u30b3\u30f3\u30b5\u30eb\u306e\u51fa\u8eab\u3067\u306f\u306a\u3044\u304b\u3089\u3001VC\u3078\u306e\u8ee2\u8077\u306f\u8ae6\u3081\u308b\u3079\u304d\u304b\uff1f\u300d\u3068\u3044\u3046\u3068\u3001\u6c7a\u3057\u3066\u305d\u3093\u306a\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u8fd1\u5e74\u306f\u3001\u3054\u81ea\u8eab\u306e\u5e74\u9f62\u3068\u5f37\u307f\u3092\u6b63\u3057\u304f\u30d1\u30c3\u30b1\u30fc\u30b8\u30f3\u30b0\uff08\u81ea\u5df1\u30d6\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\uff09\u3067\u304d\u308c\u3070\u3001\u672a\u7d4c\u9a13\u304b\u3089\u3067\u3082VC\u306e\u4e16\u754c\u3078\u98db\u3073\u8fbc\u3080\u30eb\u30fc\u30c8\u304c\u958b\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u3053\u3067\u306f\u3001\u5e74\u9f62\u5225\u306e\u63a1\u7528\u8981\u4ef6\u3068\u3001\u672a\u7d4c\u9a13\u304b\u3089VC\u3092\u76ee\u6307\u3059\u305f\u3081\u306e\u300c\u9006\u7b97\u30ad\u30e3\u30ea\u30a2\u6226\u7565\u300d\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-1. 20\u4ee3\uff08\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u301c\u30b8\u30e5\u30cb\u30a2\u67a0\uff09\uff1a\u5727\u5012\u7684\u306a\u884c\u52d5\u529b\u3068\u5730\u982d\u306e\u826f\u3055<\/h3>\n\n\n\n<p>20\u4ee3\u306e\u63a1\u7528\u306b\u304a\u3044\u3066\u3001VC\u304c\u6700\u3082\u91cd\u8996\u3059\u308b\u306e\u306f\u300c\u30ab\u30eb\u30c1\u30e3\u30fc\u30de\u30c3\u30c1\u300d\u3068\u300c\u7d20\u76f4\u3055\uff08\u30e9\u30fc\u30ca\u30d3\u30ea\u30c6\u30a3\uff09\u300d\u3001\u305d\u3057\u3066\u300c\u30bd\u30fc\u30b7\u30f3\u30b0\u3067\u6ce5\u81ed\u304f\u52d5\u3051\u308b\u884c\u52d5\u529b\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6c42\u3081\u3089\u308c\u308b\u8981\u7d20:<\/strong> * \u8ca1\u52d9\u306e\u57fa\u790e\u77e5\u8b58\uff08\u7c3f\u8a182\u7d1a\u7a0b\u5ea6\u3084\u8ca1\u52d9\u8af8\u8868\u304c\u8aad\u3081\u308b\u30ec\u30d9\u30eb\u306f\u6700\u4f4e\u9650\u5fc5\u9808\uff09\n<ul class=\"wp-block-list\">\n<li>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u696d\u754c\u3001\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u3001\u6700\u65b0\u30c8\u30ec\u30f3\u30c9\u306b\u5bfe\u3059\u308b\u7d14\u7c8b\u306a\u30aa\u30bf\u30af\u7684\u95a2\u5fc3\u30fb\u60c5\u5831\u611f\u5ea6<\/li>\n\n\n\n<li>\u30cd\u30c3\u30c8\u30ef\u30fc\u30ad\u30f3\u30b0\u529b\uff08\u8d77\u696d\u5bb6\u306e\u96c6\u307e\u308b\u30a4\u30d9\u30f3\u30c8\u3078\u81ea\u3089\u98db\u3073\u8fbc\u3093\u3067\u3044\u3051\u308b\u6ce5\u81ed\u3055\uff09<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6226\u7565:<\/strong>\u307e\u305a\u306f\u300c\u30a2\u30ca\u30ea\u30b9\u30c8\u300d\u307e\u305f\u306f\u300c\u30b8\u30e5\u30cb\u30a2\u30fb\u30a2\u30bd\u30b7\u30a8\u30a4\u30c8\u300d\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u72d9\u3044\u307e\u3059\u3002\u9762\u63a5\u3067\u306f\u300c\u81ea\u5206\u304c\u3082\u3057\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306a\u3089\u3001\u4eca\u3069\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306b\u6295\u8cc7\u3057\u305f\u3044\u304b\u3001\u305d\u306e\u7406\u7531\u306f\u4f55\u304b\u300d\u3092\u5fb9\u5e95\u7684\u306b\u8a00\u8a9e\u5316\u3057\u305f\u300e\u30de\u30a4\u6295\u8cc7\u4eee\u8aac\uff08\u6295\u8cc7\u30d4\u30c3\u30c1\u8cc7\u6599\uff09\u300f\u3092\u4f5c\u6210\u3057\u3066\u6301\u53c2\u3059\u308b\u3068\u3001\u4ed6\u306e\u5019\u88dc\u8005\u306b\u5727\u5012\u7684\u306a\u5dee\u3092\u3064\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">5-2. 30\u4ee3\uff08\u30df\u30c9\u30eb\u301c\u5373\u6226\u529b\u67a0\uff09\uff1a\u524d\u8077\u306e\u5c02\u9580\u6027\u3068\u518d\u73fe\u6027\u306e\u3042\u308b\u30b9\u30ad\u30eb\u306e\u8a3c\u660e<\/h3>\n\n\n\n<p>30\u4ee3\u3067\u306e\u8ee2\u8077\u306e\u5834\u5408\u3001\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u63a1\u7528\u306e\u67a0\u306f\u307b\u307c\u3042\u308a\u307e\u305b\u3093\u3002\u300c\u5165\u793e\u3057\u30663\u30f6\u6708\u4ee5\u5185\u306b\u3001\u3069\u306e\u3088\u3046\u306a\u30d0\u30ea\u30e5\u30fc\u3092\u51fa\u305b\u308b\u304b\u300d\u304c\u53b3\u3057\u304f\u554f\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6c42\u3081\u3089\u308c\u308b\u8981\u7d20:<\/strong>\n<ul class=\"wp-block-list\">\n<li>\u524d\u8077\u306b\u304a\u3051\u308b\u9855\u8457\u306a\u5b9f\u7e3e\uff08\u4f8b\uff1a\u30b3\u30f3\u30b5\u30eb\u3067\u306e\u65b0\u898f\u4e8b\u696dPJ\u30ea\u30fc\u30c9\u3001\u4e8b\u696d\u4f1a\u793e\u3067\u306e\u58f2\u4e0a\u30ae\u30cd\u30b9\u8a18\u9332\u3001M&amp;A\u306e\u30a8\u30b0\u30bc\u30ad\u30e5\u30fc\u30b7\u30e7\u30f3\u7d4c\u9a13\u306a\u3069\uff09<\/li>\n\n\n\n<li>\u6295\u8cc7\u5148\u3092\u5177\u4f53\u7684\u306b\u30b0\u30ed\u30fc\u30b9\u3067\u304d\u308b\u300c\u6b66\u5668\u300d\uff08Web\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u3001\u63a1\u7528\u3001\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306a\u3069\uff09<\/li>\n\n\n\n<li>\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001\u3042\u308b\u3044\u306f\u8907\u96d1\u306a\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u9593\u306e\u8abf\u6574\u80fd\u529b<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6226\u7565:<\/strong>\u3054\u81ea\u8eab\u306e\u5f37\u307f\u304c\u6700\u3082\u6d3b\u304d\u308b\u300cVC\u306e\u30bf\u30a4\u30d7\u300d\u3092\u6b63\u78ba\u306b\u898b\u6975\u3081\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\n<ul class=\"wp-block-list\">\n<li><strong>\u4e8b\u696d\u4f1a\u793e\u3067\u306e\u65b0\u898f\u4e8b\u696d\u30fb\u55b6\u696d\u7d4c\u9a13\u8005 \u27a1\ufe0f CVC\u3001\u307e\u305f\u306f\u30cf\u30f3\u30ba\u30aa\u30f3\u578b\u72ec\u7acb\u7cfbVC<\/strong><\/li>\n\n\n\n<li><strong>\u91d1\u878d\u30fb\u8ca1\u52d9\u30fb\u516c\u8a8d\u4f1a\u8a08\u58eb\u30fb\u7a0e\u7406\u58eb \u27a1\ufe0f \u91d1\u878d\u6a5f\u95a2\u7cfbVC\u3001\u307e\u305f\u306f\u30df\u30c9\u30eb\u30fb\u30ec\u30a4\u30bf\u30fc\u7279\u5316\u578bVC<\/strong><\/li>\n\n\n\n<li><strong>\u7814\u7a76\u958b\u767a\u30fb\u7406\u7cfb\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9 \u27a1\ufe0f \u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u30fb\u5927\u5b66\u767aVC<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">5-3. \u672a\u7d4c\u9a13\u8005\u304c\u4eca\u3059\u3050\u59cb\u3081\u308b\u3079\u304d\u300cVC\u8ee2\u8077\u3078\u306e\u4ed5\u8fbc\u307f\u300d<\/h3>\n\n\n\n<p>\u3082\u3057\u3001\u73fe\u6642\u70b9\u3067\u30b9\u30da\u30c3\u30af\u3084\u7d4c\u9a13\u304c\u8db3\u308a\u306a\u3044\u3068\u611f\u3058\u3066\u3044\u308b\u5834\u5408\u3001\u4ee5\u4e0b\u306e\u30b9\u30c6\u30c3\u30d7\u3092\u534a\u5e74\u301c1\u5e74\u304b\u3051\u3066\u4ed5\u8fbc\u3080\u3053\u3068\u3067\u3001VC\u3078\u306e\u8ee2\u8077\u78ba\u7387\u3092\u5287\u7684\u306b\u9ad8\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>\u3010\u672a\u7d4c\u9a13\u304b\u3089\u306eVC\u8ee2\u8077\u30ed\u30fc\u30c9\u30de\u30c3\u30d7\u3011\n\n&#91;STEP 1: \u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u6751\u3078\u6f5c\u5165]\n\u30fb\u8d77\u696d\u5bb6\u3001\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306eX\uff08\u65e7Twitter\uff09\u3084note\u3092\u6bce\u65e5\u7db2\u7f85\u7684\u306b\u30c1\u30a7\u30c3\u30af\u3002\n  \u6700\u65b0\u306e\u8cc7\u91d1\u8abf\u9054\u30cb\u30e5\u30fc\u30b9\uff08INITIAL\u3084PR TIMES\uff09\u3092\u8aad\u307f\u8fbc\u307f\u3001\u69cb\u9020\u3092\u7406\u89e3\u3059\u308b\u3002\n       \u25bc\n&#91;STEP 2: \u30ae\u30d6\uff08\u8ca2\u732e\uff09\u304b\u3089\u59cb\u3081\u308b]\n\u30fb\u8208\u5473\u306e\u3042\u308b\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3084\u3001\u72d9\u3063\u3066\u3044\u308bVC\u306e\u6295\u8cc7\u5148\u4f01\u696d\u306e\u30a4\u30d9\u30f3\u30c8\u30fb\u624b\u4f1d\u3044\u306b\n  \u30d7\u30ed\u30dc\u30ce\uff08\u30dc\u30e9\u30f3\u30c6\u30a3\u30a2\uff09\u3084\u8907\u696d\u3068\u3057\u3066\u53c2\u52a0\u3002\u4eba\u8108\u3068\u300c\u30ea\u30a2\u30eb\u306a\u4e8b\u696d\u611f\u899a\u300d\u3092\u63b4\u3080\u3002\n       \u25bc\n&#91;STEP 3: \u6295\u8cc7\u4eee\u8aac\u306e\u30c9\u30ad\u30e5\u30e1\u30f3\u30c8\u5316]\n\u30fb\u300c\u81ea\u5206\u304c1\u5104\u5186\u6301\u3063\u3066\u3044\u305f\u3089\u6295\u8cc7\u3057\u305f\u3044\u672a\u4e0a\u5834\u4f01\u696d5\u9078\u300d\u3092\u30c6\u30fc\u30de\u306b\u3001\n  \u5e02\u5834\u5206\u6790\u3001\u7af6\u5408\u512a\u4f4d\u6027\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3001\u30a8\u30b0\u30b8\u30c3\u30c8\u30b9\u30c8\u30fc\u30ea\u30fc\u3092\u307e\u3068\u3081\u305f\u72ec\u81ea\u306e\u30ec\u30dd\u30fc\u30c8\u3092\u4f5c\u6210\u3002\n       \u25bc\n&#91;STEP 4: \u5c02\u9580\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\uff08\u30b3\u30c8\u30e9\u7b49\uff09\u3078\u306e\u76f8\u8ac7]\n\u30fb\u975e\u516c\u958b\u6c42\u4eba\u306e\u7372\u5f97\u3068\u3001\u4f5c\u6210\u3057\u305f\u30ec\u30dd\u30fc\u30c8\u3084\u8077\u52d9\u7d4c\u6b74\u66f8\u306e\u30d6\u30e9\u30c3\u30b7\u30e5\u30a2\u30c3\u30d7\u3092\u884c\u3046\u3002\n<\/code><\/pre>\n\n\n\n<h2 class=\"wp-block-heading\">6. \u30b3\u30c8\u30e9\u306e\u6c42\u4eba\u30c7\u30fc\u30bf\u304b\u3089\u8aad\u307f\u89e3\u304f\u3001VC\u8ee2\u8077\u3067\u6709\u5229\u306b\u306a\u308b\u8cc7\u683c\u30fb\u30b9\u30ad\u30eb<\/h2>\n\n\n\n<p>VC\u306e\u6c42\u4eba\u3092\u691c\u7d22\u3059\u308b\u3068\u3001\u5fc5\u9808\u8981\u4ef6\uff08Must\uff09\u3084\u6b53\u8fce\u8981\u4ef6\uff08Want\uff09\u306b\u7279\u5b9a\u306e\u8cc7\u683c\u3084\u30b9\u30ad\u30eb\u304c\u983b\u7e41\u306b\u767b\u5834\u3057\u307e\u3059\u3002\u3053\u308c\u3089\u3092\u6301\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u3001\u66f8\u985e\u9078\u8003\u3084\u9762\u63a5\u306b\u304a\u3044\u3066\u3001\u57fa\u790e\u77e5\u8b58\u306e\u8a3c\u660e\u3068\u3057\u3066\u975e\u5e38\u306b\u5f37\u529b\u306a\u30b7\u30b0\u30ca\u30eb\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6-1. \u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30fb\u30d3\u30b8\u30cd\u30b9\u7cfb\u306e\u91cd\u8981\u8cc7\u683c<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u516c\u8a8d\u4f1a\u8a08\u58eb \/ \u7c73\u56fd\u516c\u8a8d\u4f1a\u8a08\u58eb (USCPA):<\/strong>\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\uff08\u7279\u306b\u8ca1\u52d9\u30fb\u7a0e\u52d9DD\uff09\u306b\u304a\u3044\u3066\u7121\u985e\u306e\u5f37\u3055\u3092\u767a\u63ee\u3057\u307e\u3059\u3002\u6295\u8cc7\u5148\u4f01\u696d\u306e\u4f1a\u8a08\u76e3\u67fb\u5bfe\u5fdc\u3084\u3001IPO\u6e96\u5099\u306e\u30d5\u30a7\u30fc\u30ba\u3067\u975e\u5e38\u306b\u91cd\u5b9d\u3055\u308c\u308b\u305f\u3081\u3001\u3069\u306eVC\u304b\u3089\u3082\u5f15\u304f\u624b\u3042\u307e\u305f\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8 (CMA) \/ CFA\uff08\u516c\u8a8d\u8ca1\u52d9\u5206\u6790\u58eb\uff09:<\/strong>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u7ba1\u7406\u3001\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u624b\u6cd5\u3092\u4f53\u7cfb\u7684\u306b\u7406\u89e3\u3057\u3066\u3044\u308b\u8a3c\u660e\u306b\u306a\u308a\u307e\u3059\u3002\u7279\u306b\u91d1\u878d\u6a5f\u95a2\u7cfbVC\u3084\u5916\u8cc7\u7cfb\u30d5\u30a1\u30f3\u30c9\u306b\u304a\u3044\u3066\u9ad8\u304f\u8a55\u4fa1\u3055\u308c\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>MBA\uff08\u7d4c\u55b6\u5b66\u4fee\u58eb\uff09\uff1a<\/strong>\u6d77\u5916\u306eVC\u30d5\u30a1\u30f3\u30c9\u3084\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u5c55\u958b\u3092\u8996\u91ce\u306b\u5165\u308c\u3066\u3044\u308b\u72ec\u7acb\u7cfb\u30c8\u30c3\u30d7VC\u3067\u306f\u3001MBA\u30db\u30eb\u30c0\u30fc\u306e\u6bd4\u7387\u304c\u975e\u5e38\u306b\u9ad8\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u7d4c\u55b6\u5168\u822c\u306e\u4f53\u7cfb\u7684\u306a\u77e5\u8b58\u306b\u52a0\u3048\u3001\u56fd\u5185\u5916\u306e\u5f37\u529b\u306a\u30a2\u30eb\u30e0\u30ca\u30a4\uff08\u540c\u7a93\u751f\uff09\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304c\u30bd\u30fc\u30b7\u30f3\u30b0\u306b\u6d3b\u304d\u308b\u305f\u3081\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">6-2. \u5b9f\u52d9\u3067\u5fc5\u9808\u3068\u306a\u308b\u30bd\u30d5\u30c8\u30b9\u30ad\u30eb\u30fb\u30cf\u30fc\u30c9\u30b9\u30ad\u30eb<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u8ca1\u52d9\u30e2\u30c7\u30ea\u30f3\u30b0\uff08Excel \/ \u30b9\u30d7\u30ec\u30c3\u30c9\u30b7\u30fc\u30c8\uff09\uff1a<\/strong>\u6295\u8cc7\u5019\u88dc\u4f01\u696d\u306e\u8ca1\u52d9\u8af8\u8868\uff08P\/L\u3001B\/S\u3001C\/F\uff09\u3092\u9023\u52d5\u3055\u305b\u3001\u5c06\u6765\u306e\u696d\u7e3e\u4e88\u6e2c\u3084\u682a\u4e3b\u9593\u5354\u5b9a\uff08\u30ad\u30e3\u30c3\u30d7\u30c6\u30fc\u30d6\u30eb\uff09\u306e\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u30b9\u30e0\u30fc\u30ba\u306b\u4f5c\u6210\u3067\u304d\u308b\u30b9\u30ad\u30eb\u306f\u3001\u30a2\u30bd\u30b7\u30a8\u30a4\u30c8\u8077\u306e\u5fc5\u9808\u5b9f\u52d9\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u82f1\u8a9e\u529b\uff08\u30d3\u30b8\u30cd\u30b9\u30ec\u30d9\u30eb\u4ee5\u4e0a\uff09\uff1a<\/strong>\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u5e02\u5834\u304c\u30b0\u30ed\u30fc\u30d0\u30eb\u5316\u3059\u308b\u4e2d\u3001\u6d77\u5916\u306e\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08LP\uff09\u304b\u3089\u306e\u8cc7\u91d1\u8abf\u9054\u3084\u3001\u6295\u8cc7\u5148\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u6d77\u5916\u9032\u51fa\uff08\u30af\u30ed\u30b9\u30dc\u30fc\u30c0\u30fc\u652f\u63f4\uff09\u3001\u3055\u3089\u306b\u306f\u6d77\u5916\u306e\u5148\u9032\u7684\u306a\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3078\u306e\u76f4\u63a5\u6295\u8cc7\u3092\u884c\u3046VC\u304c\u5897\u52a0\u3057\u3066\u3044\u307e\u3059\u3002\u30d3\u30b8\u30cd\u30b9\u82f1\u8a9e\uff08\u5951\u7d04\u66f8\u306e\u8aad\u89e3\u3001\u4ea4\u6e09\u3001\u82f1\u8a9e\u3067\u306e\u30d4\u30c3\u30c1\uff09\u304c\u3067\u304d\u308b\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306e\u5e02\u5834\u4fa1\u5024\u306f\u8df3\u306d\u4e0a\u304c\u3063\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">7. VC\u3078\u306e\u4e2d\u9014\u8ee2\u8077\u306b\u304a\u3051\u308b\u9762\u63a5\u5bfe\u7b56\u3068\u300c\u6295\u8cc7\u30d4\u30c3\u30c1\u300d\u306e\u6975\u610f<\/h2>\n\n\n\n<p>VC\u306e\u63a1\u7528\u9762\u63a5\u306f\u3001\u4e00\u822c\u7684\u306a\u4e8b\u696d\u4f1a\u793e\u3084\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u306e\u9762\u63a5\u3068\u306f\u5168\u304f\u6bdb\u8272\u304c\u7570\u306a\u308a\u307e\u3059\u3002\u306a\u305c\u306a\u3089\u3001\u9762\u63a5\u5b98\u3067\u3042\u308b\u30d1\u30fc\u30c8\u30ca\u30fc\u305f\u3061\u306f\u300c\u65e5\u3005\u3001\u8d77\u696d\u5bb6\u304b\u3089\u30d4\u30c3\u30c1\uff08\u30d7\u30ec\u30bc\u30f3\uff09\u3092\u53d7\u3051\u3001\u6295\u8cc7\u306e\u30b8\u30e3\u30c3\u30b8\u3092\u4e0b\u3057\u3066\u3044\u308b\u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u300d\u3060\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u5f7c\u3089\u306e\u5fc3\u3092\u52d5\u304b\u3059\u305f\u3081\u306b\u306f\u3001\u5358\u306b\u5fd7\u671b\u52d5\u6a5f\u3092\u8a9e\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u300c\u3042\u306a\u305f\u81ea\u8eab\u304c\u512a\u79c0\u306a\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u306e\u601d\u8003\u3092\u6301\u3063\u3066\u3044\u308b\u3053\u3068\u300d\u3092\u9762\u63a5\u306e\u5834\u3067\u8a3c\u660e\u3057\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7-1. \u9762\u63a5\u3067\u5fc5\u305a\u805e\u304b\u308c\u308b\u300c3\u5927\u8cea\u554f\u300d\u3068\u56de\u7b54\u306e\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">\u8cea\u554f\u2460\uff1a\u300c\u6700\u8fd1\u6ce8\u76ee\u3057\u3066\u3044\u308b\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3068\u3001\u305d\u306e\u7406\u7531\u3092\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u300d<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>NG\u56de\u7b54:<\/strong> \u300c\u30bf\u30a4\u30df\u30fc\u3084\u30e1\u30eb\u30ab\u30ea\u3067\u3059\uff08\u65e2\u306b\u8ab0\u3082\u304c\u77e5\u3063\u3066\u3044\u308b\u5de8\u5927\u4f01\u696d\uff09\u300d\u300c\u751f\u6210AI\u9818\u57df\u5168\u822c\u306b\u6ce8\u76ee\u3057\u3066\u3044\u307e\u3059\uff08\u62bd\u8c61\u7684\u3059\u304e\u308b\uff09\u300d\u3002<\/li>\n\n\n\n<li><strong>OK\u56de\u7b54:<\/strong> \u300c\u79c1\u306f\u3007\u3007\u3068\u3044\u3046\u30b7\u30fc\u30c9\u671f\u306eSaaS\u4f01\u696d\u306b\u6ce8\u76ee\u3057\u3066\u3044\u307e\u3059\u3002\u306a\u305c\u306a\u3089\u3001\u73fe\u5728\u3007\u3007\u696d\u754c\u3067\u306f\u6cd5\u5f8b\u6539\u6b63\u306b\u4f34\u3046DX\u306e\u5f37\u5236\u529b\u304c\u50cd\u3044\u3066\u304a\u308a\uff08\u30de\u30af\u30ed\u30c8\u30ec\u30f3\u30c9\uff09\u3001\u540c\u793e\u306f\u73fe\u5834\u306e\u6ce5\u81ed\u3044\u904b\u7528\u306b\u5373\u3057\u305f\u30d7\u30ed\u30c0\u30af\u30c8\u3067\u5148\u884c\u512a\u4f4d\u6027\u3092\u7bc9\u3044\u3066\u3044\u307e\u3059\u3002\u73fe\u5728\u306e\u63a8\u5b9a\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306b\u5bfe\u3057\u3066\u3001TAM\uff08\u7372\u5f97\u53ef\u80fd\u306a\u6700\u5927\u5e02\u5834\u898f\u6a21\uff09\u306e\u62e1\u5927\u4f59\u5730\u304c\u3007\u500d\u3042\u308a\u3001\u6570\u5e74\u4ee5\u5185\u306b\u3007\u3007\u793e\u306b\u3088\u308bM&amp;A\u3001\u307e\u305f\u306fIPO\u3092\u72d9\u3048\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u3042\u308b\u3068\u8003\u3048\u3066\u3044\u308b\u304b\u3089\u3067\u3059\u3002\u300d<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u8cea\u554f\u2461\uff1a\u300c\u8d77\u696d\u5bb6\u304b\u3089\u300e\u3042\u306a\u305f\uff08\u5f53VC\uff09\u304b\u3089\u6295\u8cc7\u3092\u53d7\u3051\u305f\u3044\u300f\u3068\u601d\u3063\u3066\u3082\u3089\u3046\u305f\u3081\u306b\u3001\u3042\u306a\u305f\u306f\u4f55\u3092\u30ae\u30d6\uff08\u63d0\u4f9b\uff09\u3067\u304d\u307e\u3059\u304b\uff1f\u300d<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>NG\u56de\u7b54:<\/strong> \u300c\u4e00\u751f\u61f8\u547d\u30cf\u30f3\u30ba\u30aa\u30f3\u3067\u30b5\u30dd\u30fc\u30c8\u3057\u307e\u3059\u300d\u300c\u524d\u8077\u306e\u30b3\u30f3\u30b5\u30eb\u306e\u30ce\u30a6\u30cf\u30a6\u3092\u63d0\u4f9b\u3057\u307e\u3059\uff08\u5177\u4f53\u6027\u304c\u306a\u3044\uff09\u300d\u3002<\/li>\n\n\n\n<li><strong>OK\u56de\u7b54:<\/strong> \u300c\u79c1\u306b\u306f\u524d\u8077\u306e\u4e8b\u696d\u4f1a\u793e\u3067\u3001\u3007\u3007\u9818\u57df\u306e\u6cd5\u4eba\u55b6\u696d\u7d44\u7e54\u3092\u30bc\u30ed\u304b\u3089\u7acb\u3061\u4e0a\u3052\u3001\u58f2\u4e0a\u3092\u3007\u5104\u5186\u306b\u30b0\u30ed\u30fc\u30b9\u3055\u305b\u305f\u518d\u73fe\u6027\u306e\u3042\u308b\u30d7\u30ed\u30bb\u30b9\u304c\u3042\u308a\u307e\u3059\u3002\u30b7\u30fc\u30c9\u30fb\u30a2\u30fc\u30ea\u30fc\u671f\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u304c\u6700\u3082\u8e93\u304d\u3084\u3059\u3044\u300e\u6700\u521d\u306e10\u793e\u306e\u30a8\u30f3\u30bf\u30fc\u30d7\u30e9\u30a4\u30ba\u9867\u5ba2\u958b\u62d3\uff08PMF\uff09\u300f\u306b\u304a\u3044\u3066\u3001\u79c1\u306e\u6301\u3064\u3007\u3007\u696d\u754c\u306e\u5f79\u54e1\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u306e\u7d39\u4ecb\u3068\u3001\u55b6\u696d\u30d7\u30ed\u30bb\u30b9\u306e\u6a19\u6e96\u5316\u3068\u3044\u3046\u5f62\u3067\u3001\u6295\u8cc7\u76f4\u5f8c\u304b\u3089\u5177\u4f53\u7684\u306a\u58f2\u4e0a\u8ca2\u732e\u304c\u53ef\u80fd\u3067\u3059\u3002\u300d<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">7-2. \u5b9f\u8df5\uff01\u300c\u30de\u30a4\u6295\u8cc7\u30d4\u30c3\u30c1\uff08\u63d0\u6848\u66f8\uff09\u300d\u306e\u4f5c\u6210\u30d5\u30ec\u30fc\u30e0\u30ef\u30fc\u30af<\/h4>\n\n\n\n<p>\u66f8\u985e\u9078\u8003\u3092\u901a\u904e\u3057\u30012\u6b21\u9762\u63a5\u3084\u6700\u7d42\u9762\u63a5\u306b\u81e8\u3080\u969b\u306f\u3001A4\u7528\u7d193\u301c5\u679a\u7a0b\u5ea6\u306e\u300c\u6295\u8cc7\u63d0\u6848\u30ec\u30dd\u30fc\u30c8\u300d\u3092\u81ea\u4e3b\u7684\u306b\u4f5c\u6210\u3057\u3066\u6301\u53c2\u3059\u308b\u3053\u3068\u3092\u5f37\u304f\u63a8\u5968\u3057\u307e\u3059\u3002\u3053\u308c\u304c\u3067\u304d\u308b\u5019\u88dc\u8005\u306f\u5168\u4f53\u306e\u6570\uff05\u3057\u304b\u3044\u306a\u3044\u305f\u3081\u3001\u63d0\u51fa\u3059\u308b\u3060\u3051\u3067\u4e00\u6c17\u306b\u63a1\u7528\u6700\u6709\u529b\u5019\u88dc\u306b\u8e8d\u308a\u51fa\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u69cb\u6210\u6848\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>\u3010\u30de\u30a4\u6295\u8cc7\u30d4\u30c3\u30c1\u8cc7\u6599\u306e\u57fa\u672c\u69cb\u6210\u3011\n1. \u6295\u8cc7\u63a8\u5968\u4f01\u696d\u306e\u6982\u8981\uff08\u4f1a\u793e\u540d\u3001\u5275\u696d\u8005\u3001\u4e8b\u696d\u5185\u5bb9\u3001\u3053\u308c\u307e\u3067\u306e\u8abf\u9054\u984d\uff09\n2. \u306a\u305c\u4eca\u306a\u306e\u304b\uff1f\uff08\u30de\u30af\u30ed\u74b0\u5883\u306e\u5909\u5316\u3001\u6cd5\u6539\u6b63\u3001\u6280\u8853\u30c8\u30ec\u30f3\u30c9\u3001\u672a\u89e3\u6c7a\u306e\u6df1\u3044\u8ab2\u984c\uff09\n3. \u7af6\u5408\u512a\u4f4d\u6027\uff08\u4ed6\u793e\u304c\u771f\u4f3c\u3067\u304d\u306a\u3044\u30a2\u30bb\u30c3\u30c8\u3001\u53c2\u5165\u969c\u58c1\u3001\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u5916\u90e8\u6027\uff09\n4. \u5e02\u5834\u898f\u6a21\uff08TAM \/ SAM \/ SOM \u306e\u30ed\u30b8\u30ab\u30eb\u306a\u63a8\u8a08\uff09\n5. \u6295\u8cc7\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u3068\u30a8\u30b0\u30b8\u30c3\u30c8\uff08\u60f3\u5b9a\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3001\u8abf\u9054\u91d1\u984d\u3001IPO\/M&amp;A\u306e\u30b7\u30ca\u30ea\u30aa\uff09\n6. \u81ea\u5206\u304c\u62c5\u5f53\u30ad\u30e3\u30d4\u30bf\u30ea\u30b9\u30c8\u3068\u3057\u3066\u5b9f\u884c\u3057\u305f\u3044\u30cf\u30f3\u30ba\u30aa\u30f3\u652f\u63f4\u30d7\u30e9\u30f3\n<\/code><\/pre>\n\n\n\n<h2 class=\"wp-block-heading\">8. \u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u8ee2\u8077\u5f8c\u306e\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\uff08\u30dd\u30b9\u30c8VC\uff09<\/h2>\n\n\n\n<p>VC\u3068\u3044\u3046\u30ad\u30e3\u30ea\u30a2\u306f\u3001\u305d\u308c\u81ea\u4f53\u304c\u975e\u5e38\u306b\u30a8\u30ad\u30b5\u30a4\u30c6\u30a3\u30f3\u30b0\u3067\u751f\u6daf\u3092\u304b\u3051\u308b\u4fa1\u5024\u306e\u3042\u308b\u8077\u696d\u3067\u3059\u304c\u3001VC\u3092\u7d4c\u9a13\u3057\u305f\u5f8c\u306e\u300c\u30dd\u30b9\u30c8VC\uff08\u305d\u306e\u5f8c\u306e\u30ad\u30e3\u30ea\u30a2\uff09\u300d\u306e\u9078\u629e\u80a2\u306e\u5e83\u3055\u3082\u3001\u30cf\u30a4\u30af\u30e9\u30b9\u4eba\u6750\u3092\u5f15\u304d\u3064\u3051\u308b\u5927\u304d\u306a\u9b45\u529b\u3067\u3059\u3002<\/p>\n\n\n\n<p>VC\u3067\u6570\u5e74\u9593\u3001\u6570\u5341\u793e\u306e\u8d77\u696d\u5bb6\u306e\u6804\u67af\u76db\u8870\u3092\u7279\u7b49\u5e2d\u3067\u773a\u3081\u3001\u8ca1\u52d9\u30fb\u7d4c\u55b6\u30fb\u7d44\u7e54\u3065\u304f\u308a\u306e\u30ce\u30a6\u30cf\u30a6\u3092\u53e9\u304d\u8fbc\u307e\u308c\u305f\u4eba\u6750\u306f\u3001\u5e02\u5834\u304b\u3089\u6975\u3081\u3066\u9ad8\u3044\u8a55\u4fa1\u3092\u53d7\u3051\u307e\u3059\u3002\u4e3b\u306a\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">8-1. \u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306eCFO\u3001COO\u3001\u7d4c\u55b6\u4f01\u753b\u8cac\u4efb\u8005<\/h3>\n\n\n\n<p>\u6700\u3082\u4e00\u822c\u7684\u306a\u30d1\u30b9\u306e\u4e00\u3064\u3067\u3059\u3002\u6295\u8cc7\u5148\u3001\u3042\u308b\u3044\u306f\u5916\u90e8\u306e\u6025\u6210\u9577\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306b\u3001\u7d4c\u55b6\u5e79\u90e8\uff08CXO\uff09\u3068\u3057\u3066\u8fce\u3048\u5165\u308c\u3089\u308c\u308b\u30b1\u30fc\u30b9\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u7279\u306b\u3001VC\u51fa\u8eab\u306eCFO\u306f\u300c\u6295\u8cc7\u5bb6\u304c\u3069\u306e\u3088\u3046\u306a\u76ee\u7dda\u3067\u4f01\u696d\u3092\u898b\u308b\u304b\u300d\u300c\u6b21\u306e\u8cc7\u91d1\u8abf\u9054\uff08\u30b7\u30ea\u30fc\u30baA\u3001B\u306a\u3069\uff09\u3067\u682a\u4e3b\u9593\u5951\u7d04\u3092\u3069\u3046\u7d44\u3080\u3079\u304d\u304b\u300d\u300cIPO\u306b\u5411\u3051\u305f\u5be9\u67fb\u3092\u3069\u3046\u30af\u30ea\u30a2\u3059\u308b\u304b\u300d\u3092\u5b8c\u74a7\u306b\u719f\u77e5\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u4e0a\u5834\u3092\u76ee\u6307\u3059\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u7d4c\u55b6\u9663\u306b\u3068\u3063\u3066\u5589\u304b\u3089\u624b\u304c\u51fa\u308b\u307b\u3069\u6b32\u3057\u3044\u4eba\u6750\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">8-2. \u8d77\u696d\u5bb6\uff08\u30a2\u30f3\u30c8\u30ec\u30d7\u30ec\u30ca\u30fc\uff09\u3078\u306e\u8ee2\u8eab<\/h3>\n\n\n\n<p>VC\u3068\u3057\u3066\u591a\u304f\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3092\u5206\u6790\u3057\u3001\u4f55\u304c\u6210\u529f\u3057\u3001\u4f55\u304c\u5931\u6557\u3059\u308b\u304b\u3068\u3044\u3046\u300c\u578b\u300d\u3092\u5b66\u3093\u3060\u5f8c\u3001\u81ea\u3089\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3092\u8d77\u696d\u3059\u308b\u30b1\u30fc\u30b9\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u306e\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304c\u3042\u308b\u305f\u3081\u3001\u5275\u696d\u521d\u671f\u306e\u30b7\u30fc\u30c9\u8cc7\u91d1\u3092\u304b\u3064\u3066\u306e\u540c\u50da\u3084\u4fe1\u983c\u95a2\u4fc2\u306e\u3042\u308b\u4ed6\u306eVC\u304b\u3089\u30b9\u30e0\u30fc\u30ba\u306b\u8abf\u9054\u3067\u304d\u308b\u3068\u3044\u3046\u3001\u5727\u5012\u7684\u306a\u30a2\u30c9\u30d0\u30f3\u30c6\u30fc\u30b8\u3092\u6301\u3063\u3066\u30b9\u30bf\u30fc\u30c8\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">8-3. PE\u30d5\u30a1\u30f3\u30c9\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30a8\u30af\u30a4\u30c6\u30a3\uff09\u3078\u306e\u30b9\u30c6\u30c3\u30d7\u30a2\u30c3\u30d7<\/h3>\n\n\n\n<p>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\uff08\u672a\u4e0a\u5834\u30d9\u30f3\u30c1\u30e3\u30fc\uff09\u3092\u5bfe\u8c61\u3068\u3059\u308bVC\u304b\u3089\u3001\u3088\u308a\u6210\u719f\u3057\u305f\u4e2d\u5805\u30fb\u5927\u4f01\u696d\u306e\u30de\u30b8\u30e7\u30ea\u30c6\u30a3\u682a\uff08\u904e\u534a\u6570\uff09\u3092\u53d6\u5f97\u3057\u3066\u4f01\u696d\u4fa1\u5024\u3092\u518d\u751f\u30fb\u5411\u4e0a\u3055\u305b\u308b\u300cPE\u30d5\u30a1\u30f3\u30c9\u300d\u3078\u30b9\u30c6\u30c3\u30d7\u30a2\u30c3\u30d7\u3059\u308b\u30ad\u30e3\u30ea\u30a2\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u30c7\u30a3\u30fc\u30eb\u898f\u6a21\u304c\u6570\u767e\u5104\u301c\u6570\u5343\u5104\u5186\u898f\u6a21\u3068\u975e\u5e38\u306b\u5927\u304d\u304f\u3001\u3088\u308a\u9ad8\u5ea6\u306a\u8ca1\u52d9\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u3084LBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u7b49\u306e\u77e5\u8b58\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u304c\u3001\u5e74\u53ce\u6c34\u6e96\u306f\u3055\u3089\u306b\u8df3\u306d\u4e0a\u304c\u308b\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">9. \u307e\u3068\u3081\uff1a\u30b3\u30c8\u30e9\u3092\u6d3b\u7528\u3057\u3066\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u3078\u306e\u5207\u7b26\u3092\u63b4\u3080<\/h2>\n\n\n\n<p>\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u696d\u754c\u306f\u3001\u65e5\u672c\u306e\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u6700\u524d\u7dda\u3067\u3042\u308a\u3001\u500b\u4eba\u306e\u88c1\u91cf\u3001\u5f97\u3089\u308c\u308b\u30b9\u30ad\u30eb\u3001\u4eba\u8108\u3001\u305d\u3057\u3066\u7d4c\u6e08\u7684\u30ea\u30bf\u30fc\u30f3\u306e\u3069\u308c\u3092\u3068\u3063\u3066\u3082\u3001\u73fe\u4ee3\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u8ee2\u8077\u5e02\u5834\u306b\u304a\u3044\u3066\u6700\u9ad8\u5cf0\u306e\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u3092\u79d8\u3081\u305f\u30a8\u30ad\u30b5\u30a4\u30c6\u30a3\u30f3\u30b0\u306a\u9818\u57df\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3001\u305d\u306e\u4eba\u6c17\u306e\u9ad8\u3055\u3068\u96c7\u7528\u306e\u5c02\u9580\u6027\u306e\u9ad8\u3055\u3086\u3048\u306b\u3001\u300c\u4e00\u822c\u306e\u8ee2\u8077\u30b5\u30a4\u30c8\u306b\u306f\u51fa\u56de\u3089\u306a\u3044\u975e\u516c\u958b\u6c42\u4eba\u300d\u304c\u5168\u4f53\u306e\u5927\u304d\u306a\u5272\u5408\u3092\u5360\u3081\u3066\u3044\u308b\u306e\u304c\u5b9f\u60c5\u3067\u3059\u3002\u307e\u305f\u3001\u30d5\u30a1\u30f3\u30c9\u3054\u3068\u306e\u30ab\u30eb\u30c1\u30e3\u30fc\u3084\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306e\u9055\u3044\u306f\u3001\u5916\u304b\u3089\u898b\u3066\u3044\u308b\u3060\u3051\u3067\u306f\u975e\u5e38\u306b\u5206\u304b\u308a\u306b\u304f\u304f\u3001\u30df\u30b9\u30de\u30c3\u30c1\u304c\u8d77\u3053\u308a\u3084\u3059\u3044\u696d\u754c\u3067\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30cf\u30a4\u30af\u30e9\u30b9\u30fb\u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u8ee2\u8077\u306b\u5f37\u307f\u3092\u6301\u3064\u300c\u30b3\u30c8\u30e9\uff08KOTORA\uff09\u300d\u3067\u306f\u3001\u72ec\u7acb\u7cfbVC\u3001\u5927\u624bCVC\u3001\u91d1\u878d\u6a5f\u95a2\u7cfb\u30d5\u30a1\u30f3\u30c9\u306e\u30b7\u30cb\u30a2\u5c64\u3084\u30d1\u30fc\u30c8\u30ca\u30fc\u3068\u76f4\u63a5\u30d1\u30a4\u30d7\u3092\u6301\u3061\u3001\u696d\u754c\u306e\u6700\u65b0\u52d5\u5411\u3084\u5404\u30d5\u30a1\u30f3\u30c9\u306e\u300c\u672c\u5f53\u306e\u63a1\u7528\u8981\u4ef6\u300d\u3092\u719f\u77e5\u3057\u305f\u5c02\u9580\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u304c\u591a\u6570\u5728\u7c4d\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u3054\u81ea\u8eab\u306e\u73fe\u5728\u306e\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9\uff08\u91d1\u878d\u30fb\u30b3\u30f3\u30b5\u30eb\u30fb\u4e8b\u696d\u4f1a\u793e\uff09\u304cVC\u3067\u3069\u3046\u8a55\u4fa1\u3055\u308c\u308b\u304b\u77e5\u308a\u305f\u3044<\/li>\n\n\n\n<li>\u975e\u516c\u958b\u306e\u512a\u826fCVC\u30fbVC\u6c42\u4eba\u6848\u4ef6\u3092\u78ba\u8a8d\u3057\u305f\u3044<\/li>\n\n\n\n<li>\u9762\u63a5\u5bfe\u7b56\u3068\u3057\u3066\u3001\u6295\u8cc7\u30d4\u30c3\u30c1\u8cc7\u6599\u306e\u30ec\u30d3\u30e5\u30fc\u3084\u30d6\u30e9\u30c3\u30b7\u30e5\u30a2\u30c3\u30d7\u306e\u30b5\u30dd\u30fc\u30c8\u3092\u53d7\u3051\u305f\u3044<\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u3088\u3046\u306a\u60f3\u3044\u3092\u304a\u6301\u3061\u306e\u65b9\u306f\u3001\u307e\u305a\u306f\u30b3\u30c8\u30e9\u306e\u7121\u6599\u8ee2\u8077\u652f\u63f4\u30b5\u30fc\u30d3\u30b9\u306b\u767b\u9332\u3057\u3001\u30d7\u30ed\u306e\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u3068\u306e\u30ad\u30e3\u30ea\u30a2\u30df\u30fc\u30c6\u30a3\u30f3\u30b0\u304b\u3089\u3001VC\u696d\u754c\u3078\u306e\u6311\u6226\u306e\u4e00\u6b69\u3092\u8e0f\u307f\u51fa\u3057\u3066\u307f\u3066\u306f\u3044\u304b\u304c\u3067\u3057\u3087\u3046\u304b\u3002\u3042\u306a\u305f\u306e\u3053\u308c\u307e\u3067\u306e\u30ad\u30e3\u30ea\u30a2\u306e\u7d50\u6676\u304c\u3001\u6b21\u306e\u65e5\u672c\u306e\u672a\u6765\u3092\u5275\u308b\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3092\u7206\u767a\u7684\u306b\u30b0\u30ed\u30fc\u30b9\u3055\u305b\u308b\u6700\u9ad8\u306e\u6b66\u5668\u306b\u306a\u308b\u306f\u305a\u3067\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u8fd1\u5e74\u3001\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30fb\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306f\u653f\u5e9c\u4e3b\u5c0e\u306e\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u80b2\u62105\u30ab\u5e74\u8a08\u753b\u300d\u306b\u3088\u308b\u5f37\u529b\u306a\u5f8c\u62bc\u3057\u3084\u3001\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u3001DX\uff08\u30c7\u30b8\u30bf\u30eb\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3001GX\uff08\u30b0\u30ea\u30fc\u30f3\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3068\u3044\u3063\u305f\u9818\u57df\u3078\u306e [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":130988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","wp-seo-meta-description":"","wp-seo-meta-robots":[]},"categories":[1],"tags":[],"class_list":{"0":"post-154638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized","8":"c-entry"},"acf":{"moreSummary":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kotora.jp/c\/154638-2\/\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL\" \/>\n<meta property=\"og:description\" content=\"\u8fd1\u5e74\u3001\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30fb\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306f\u653f\u5e9c\u4e3b\u5c0e\u306e\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u80b2\u62105\u30ab\u5e74\u8a08\u753b\u300d\u306b\u3088\u308b\u5f37\u529b\u306a\u5f8c\u62bc\u3057\u3084\u3001\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u3001DX\uff08\u30c7\u30b8\u30bf\u30eb\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3001GX\uff08\u30b0\u30ea\u30fc\u30f3\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3068\u3044\u3063\u305f\u9818\u57df\u3078\u306e [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kotora.jp/c\/154638-2\/\" \/>\n<meta property=\"og:site_name\" content=\"KOTORA JOURNAL\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kotorakotora\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-27T05:36:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-27T05:52:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u57f7\u7b46\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"1\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/\"},\"author\":{\"name\":\"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#\\\/schema\\\/person\\\/29f743cd7e5d2a53c8dcb2bb252da071\"},\"headline\":\"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac\",\"datePublished\":\"2024-05-27T05:36:00+00:00\",\"dateModified\":\"2026-05-27T05:52:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/\"},\"wordCount\":248,\"publisher\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2026\\\/01\\\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png\",\"articleSection\":[\"\u5168\u822c\"],\"inLanguage\":\"ja\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/\",\"name\":\"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2026\\\/01\\\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png\",\"datePublished\":\"2024-05-27T05:36:00+00:00\",\"dateModified\":\"2026-05-27T05:52:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#breadcrumb\"},\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ja\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2026\\\/01\\\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png\",\"contentUrl\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2026\\\/01\\\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png\",\"width\":800,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/154638-2\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u30db\u30fc\u30e0\",\"item\":\"https:\\\/\\\/www.kotora.jp/c\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#website\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/\",\"name\":\"\u30b3\u30c8\u30e9\u696d\u754c\u60c5\u5831\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.kotora.jp/c\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ja\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#organization\",\"name\":\"\u682a\u5f0f\u4f1a\u793e\u30b3\u30c8\u30e9\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ja\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2020\\\/05\\\/melmagalogo.png\",\"contentUrl\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2020\\\/05\\\/melmagalogo.png\",\"width\":166,\"height\":97,\"caption\":\"\u682a\u5f0f\u4f1a\u793e\u30b3\u30c8\u30e9\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/kotorakotora\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/#\\\/schema\\\/person\\\/29f743cd7e5d2a53c8dcb2bb252da071\",\"name\":\"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ja\",\"@id\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2024\\\/03\\\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2024\\\/03\\\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png\",\"contentUrl\":\"https:\\\/\\\/www.kotora.jp/c\\\/images\\\/2024\\\/03\\\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png\",\"caption\":\"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09\"},\"description\":\"\u91d1\u878d\u3001\u30b3\u30f3\u30b5\u30eb\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u5c64\u3001\u7d4c\u55b6\u5e79\u90e8\u30fb\u30a8\u30b0\u30bc\u30af\u30c6\u30a3\u30d6\u8ee2\u8077\u652f\u63f4\u306e\u30b3\u30c8\u30e9\u3002\u7c21\u5358\u7121\u6599\u767b\u9332\u3067\u3001\u5404\u696d\u754c\u3092\u719f\u77e5\u3057\u305f\u30ad\u30e3\u30ea\u30a2\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u304c\u975e\u516c\u958b\u6c42\u4eba\u306a\u3069\u591a\u6570\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u6c42\u4eba\u304b\u3089\u3042\u306a\u305f\u306e\u6700\u65b0\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002\",\"url\":\"https:\\\/\\\/www.kotora.jp/c\\\/user-profile\\\/ownedmedia\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.kotora.jp/c\/154638-2\/","og_locale":"ja_JP","og_type":"article","og_title":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL","og_description":"\u8fd1\u5e74\u3001\u65e5\u672c\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30fb\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306f\u653f\u5e9c\u4e3b\u5c0e\u306e\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u80b2\u62105\u30ab\u5e74\u8a08\u753b\u300d\u306b\u3088\u308b\u5f37\u529b\u306a\u5f8c\u62bc\u3057\u3084\u3001\u30c7\u30a3\u30fc\u30d7\u30c6\u30c3\u30af\u3001DX\uff08\u30c7\u30b8\u30bf\u30eb\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3001GX\uff08\u30b0\u30ea\u30fc\u30f3\u30c8\u30e9\u30f3\u30b9\u30d5\u30a9\u30fc\u30e1\u30fc\u30b7\u30e7\u30f3\uff09\u3068\u3044\u3063\u305f\u9818\u57df\u3078\u306e [&hellip;]","og_url":"https:\/\/www.kotora.jp/c\/154638-2\/","og_site_name":"KOTORA JOURNAL","article_publisher":"https:\/\/www.facebook.com\/kotorakotora\/","article_published_time":"2024-05-27T05:36:00+00:00","article_modified_time":"2026-05-27T05:52:39+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png","type":"image\/png"}],"author":"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09","twitter_card":"summary_large_image","twitter_misc":{"\u57f7\u7b46\u8005":"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09","\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593":"1\u5206"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.kotora.jp/c\/154638-2\/#article","isPartOf":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/"},"author":{"name":"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09","@id":"https:\/\/www.kotora.jp/c\/#\/schema\/person\/29f743cd7e5d2a53c8dcb2bb252da071"},"headline":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac","datePublished":"2024-05-27T05:36:00+00:00","dateModified":"2026-05-27T05:52:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/"},"wordCount":248,"publisher":{"@id":"https:\/\/www.kotora.jp/c\/#organization"},"image":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png","articleSection":["\u5168\u822c"],"inLanguage":"ja"},{"@type":"WebPage","@id":"https:\/\/www.kotora.jp/c\/154638-2\/","url":"https:\/\/www.kotora.jp/c\/154638-2\/","name":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac - KOTORA JOURNAL","isPartOf":{"@id":"https:\/\/www.kotora.jp/c\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/#primaryimage"},"image":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png","datePublished":"2024-05-27T05:36:00+00:00","dateModified":"2026-05-27T05:52:39+00:00","breadcrumb":{"@id":"https:\/\/www.kotora.jp/c\/154638-2\/#breadcrumb"},"inLanguage":"ja","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.kotora.jp/c\/154638-2\/"]}]},{"@type":"ImageObject","inLanguage":"ja","@id":"https:\/\/www.kotora.jp/c\/154638-2\/#primaryimage","url":"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png","contentUrl":"https:\/\/www.kotora.jp/c\/images\/2026\/01\/\u30a2\u30a4\u30ad\u30e3\u30c3\u30c1_\u30c7\u30d5\u30a9\u30eb\u30c8.png","width":800,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/www.kotora.jp/c\/154638-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u30db\u30fc\u30e0","item":"https:\/\/www.kotora.jp/c\/"},{"@type":"ListItem","position":2,"name":"\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u8ee2\u8077\u5e02\u5834\u306e\u5b8c\u5168\u653b\u7565\uff1a\u6c42\u3081\u3089\u308c\u308b\u30b9\u30ad\u30eb\u30fb\u5e74\u53ce\u52d5\u5411\u30fb\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u30fbCVC\u306e\u53f0\u982d\u307e\u3067\u3092\u5fb9\u5e95\u89e3\u8aac"}]},{"@type":"WebSite","@id":"https:\/\/www.kotora.jp/c\/#website","url":"https:\/\/www.kotora.jp/c\/","name":"\u30b3\u30c8\u30e9\u696d\u754c\u60c5\u5831","description":"","publisher":{"@id":"https:\/\/www.kotora.jp/c\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.kotora.jp/c\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ja"},{"@type":"Organization","@id":"https:\/\/www.kotora.jp/c\/#organization","name":"\u682a\u5f0f\u4f1a\u793e\u30b3\u30c8\u30e9","url":"https:\/\/www.kotora.jp/c\/","logo":{"@type":"ImageObject","inLanguage":"ja","@id":"https:\/\/www.kotora.jp/c\/#\/schema\/logo\/image\/","url":"https:\/\/www.kotora.jp/c\/images\/2020\/05\/melmagalogo.png","contentUrl":"https:\/\/www.kotora.jp/c\/images\/2020\/05\/melmagalogo.png","width":166,"height":97,"caption":"\u682a\u5f0f\u4f1a\u793e\u30b3\u30c8\u30e9"},"image":{"@id":"https:\/\/www.kotora.jp/c\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/kotorakotora\/"]},{"@type":"Person","@id":"https:\/\/www.kotora.jp/c\/#\/schema\/person\/29f743cd7e5d2a53c8dcb2bb252da071","name":"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09","image":{"@type":"ImageObject","inLanguage":"ja","@id":"https:\/\/www.kotora.jp/c\/images\/2024\/03\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png","url":"https:\/\/www.kotora.jp/c\/images\/2024\/03\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png","contentUrl":"https:\/\/www.kotora.jp/c\/images\/2024\/03\/kotora_250\uff08\u30ed\u30b4\u306a\u3057\uff09-1-150x150.png","caption":"\u30b3\u30c8\u30e9\uff08\u5e83\u5831\u30c1\u30fc\u30e0\uff09"},"description":"\u91d1\u878d\u3001\u30b3\u30f3\u30b5\u30eb\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u5c64\u3001\u7d4c\u55b6\u5e79\u90e8\u30fb\u30a8\u30b0\u30bc\u30af\u30c6\u30a3\u30d6\u8ee2\u8077\u652f\u63f4\u306e\u30b3\u30c8\u30e9\u3002\u7c21\u5358\u7121\u6599\u767b\u9332\u3067\u3001\u5404\u696d\u754c\u3092\u719f\u77e5\u3057\u305f\u30ad\u30e3\u30ea\u30a2\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u304c\u975e\u516c\u958b\u6c42\u4eba\u306a\u3069\u591a\u6570\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u6c42\u4eba\u304b\u3089\u3042\u306a\u305f\u306e\u6700\u65b0\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002","url":"https:\/\/www.kotora.jp/c\/user-profile\/ownedmedia\/"}]}},"_links":{"self":[{"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/posts\/154638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/comments?post=154638"}],"version-history":[{"count":1,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/posts\/154638\/revisions"}],"predecessor-version":[{"id":154644,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/posts\/154638\/revisions\/154644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/media\/130988"}],"wp:attachment":[{"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/media?parent=154638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/categories?post=154638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kotora.jp/c\/wp-json\/wp\/v2\/tags?post=154638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}