# Naoki Aoyagi

> Naoki Aoyagi is a seed investor at Parallel (San Francisco) backing Fashion and Internet. See 10 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Parallel](https://shizune.co/investors/profile/react-inc)
- Location: San Francisco, United States
- Total investments: 10
- Last investment: Nov 2019
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/naokiaoyagi
- X (Twitter): https://twitter.com/naoki
- Facebook: https://www.facebook.com/naoki.aoyagi.54

Naoki Aoyagi is a Senior Vice President at GREE, Inc. and Chief Executive Officer of GREE International, Inc. He joined GREE, Inc. in March 2006 from Deutsche Bank, where he had specialized in tech and media sector IPOs and M&A advisory work. At GREE, Aoyagi oversaw the Company's partnership with KDDI and its IPO before leading thedevelopment of GREE’s global operations, a role he continues today. Aoyagi earned a bachelor's degree in policy management from Keio University in 2002.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $2.1M–$11M |
| Series A | $1.3M–$74M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Fashion | 2 | 20% |
| Internet | 2 | 20% |
| Software | 2 | 20% |
| SNS | 1 | 10% |
| Apps | 1 | 10% |

26 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 4 | 40% |
| Angel | 2 | 20% |
| Series A | 2 | 20% |
| Funding Round | 1 | 10% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Enechain | enechain provides liquidity in Japan’s energy market by brokering OTC transactions of energy. |  | Angel | Nov 01, 2019 |  |
| Parallel | Parallel is a virtual hangout platform that allows sharing content with friends. On the social networking site Parallel, users can enjoy a variety of content while chatting with their close friends. It enables the creation of a room where anyone who has been invited may enter and can immediately begin speaking. |  | Seed | Jan 01, 2019 |  |
| Holmes | Holmesis a cloud contract system to consistently carry out the creation, conclusion and management of contracts in the cloud. | $73.7M | Series A | Nov 01, 2018 |  |
| One Nova | One Nova (ワンノバ) is a lifestyle brand and online platform that offers a range of innerwear products, such as men's boxers. | $2.8M | Angel | Aug 01, 2018 |  |
| GMO Flatt Security | Flatt Security is a cyber security company for all developers. | $3.8M | Seed | Apr 17, 2018 |  |
| Justincase | justInCase, Inc. is the first pure InsurTech insurance company started its business in July 2018 in Japan. justInCase was founded by experienced actuaries and data scientists. justInCase provides AI based smartphone insurance, API based accident insurance, P2P insurance, COVID-19 insurance, as well as AI based healthtech insurance. | $4.3M | Seed | Feb 11, 2018 |  |
| Justincase | justInCase, Inc. is the first pure InsurTech insurance company started its business in July 2018 in Japan. justInCase was founded by experienced actuaries and data scientists. justInCase provides AI based smartphone insurance, API based accident insurance, P2P insurance, COVID-19 insurance, as well as AI based healthtech insurance. | $2.1M | Seed | Nov 29, 2017 |  |
| AppBrew | AppBrew is a technology company that develops internet services focused on the beauty industry. The company operates the LIPS platform, which features user reviews and various campaigns for social commerce. AppBrew also offers a marketing tool called "LIPS for BRANDS" to help beauty companies analyze user behavior and design strategies. | $10.8M | Seed | Oct 30, 2017 |  |
| Wamazing | WAmazing provides free subscriber identification module (SIM) cards that allow foreign travelers to register before their arrival in Japan. Through an app, WAmazing also provides tourists with free internet services of up to 500MB. The service aims to prevent visitors from being locked out of free wifi because of sign-up pages in Japanese thatdemand a local phone number.WAmazing was founded in 2016 and is based in Tokyo, Japan. | $141.7M |  | Sep 07, 2017 |  |
| Wamazing | WAmazing provides free subscriber identification module (SIM) cards that allow foreign travelers to register before their arrival in Japan. Through an app, WAmazing also provides tourists with free internet services of up to 500MB. The service aims to prevent visitors from being locked out of free wifi because of sign-up pages in Japanese thatdemand a local phone number.WAmazing was founded in 2016 and is based in Tokyo, Japan. | $1.3M | Series A | Sep 07, 2017 |  |

10 of 10 investments shown.

## Co-investors
- [500 Startups Japan](https://shizune.co/investors/profile/500startups-japan) — VC Fund, 3 deals together
- [ANRI](https://shizune.co/investors/profile/anri) — VC Fund, 2 deals together
- [BEENEXT](https://shizune.co/investors/profile/bee-next) — VC Fund, 2 deals together
- [Beenos Partners](https://shizune.co/investors/profile/beenos-partners) — VC Fund, 2 deals together
- [JAFCO](https://shizune.co/investors/profile/jafco-co-ltd) — VC Fund, 1 deal together
- [Mizuho Capital](https://shizune.co/investors/profile/mizuho-capital) — VC Fund, 1 deal together

## About Parallel

VC Fund · Tokyo, Japan

Parallel is a virtual hangout platform that allows sharing content with friends. On the social networking site Parallel, users can enjoy a variety of content while chatting with their close friends. It enables the creation of a room where anyone who has been invited may enter and can immediately begin speaking.

5 contacts available at Parallel.

| Name | Title | Profile |
| --- | --- | --- |
| Ayataro Nakagawa | CEO | https://shizune.co/investors/profile/ayataro-nakagawa |
| Daiki Hara | Co-Founder | https://shizune.co/investors/profile/daiki-hara |
| Kensuu Al | CEO | https://shizune.co/investors/profile/kensuu-al |
| Minoru Aoki | Co-Founder | https://shizune.co/investors/profile/minoru-aoki |
| Naoki Aoyagi | CEO | https://shizune.co/investors/profile/naoki-aoyanagi |

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## FAQ

### What does Naoki Aoyagi invest in?

Naoki Aoyagi invests primarily in Fashion, Internet and Software startups, most often at Seed and Angel stage. Most of the 10 investments tracked by Shizune back companies in Japan. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Naoki Aoyagi's check size?

Naoki Aoyagi typically joins rounds of $2.1M–$11M at Seed and $1.3M–$74M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Naoki Aoyagi participates in.

### When did Naoki Aoyagi last invest?

The most recent investment recorded for Naoki Aoyagi closed in Nov 2019. Shizune tracks 10 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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