Your Entrepreneurship Journey Starts Here.

The Build 80 Program by REAPRA, is about the path that the entrepreneur has chosen to embark on. As venture builders, our role, is to ensure that this journey is one that is purpose-driven, well-meaning and ultimately, a path towards the discovery of your better self.
And it will only begin, once you are ready for it.

REAPRA, Has A Way

The REAPRA Way is a guiding methodology that focuses on growth, through research and practice. At its core, it includes key elements of learning by doing, conceptual approaches to managing complexity and a journey towards mastery. Our goal is to nurture industry leaders, who will enable society in the future.

Learning by Doing (LBD)

LBD refers to a theory of education expounded by American philosopher John Dewey. He theorized that learning should be relevant and practical, not just passive and theoretical. At REAPRA, every team member is expected to be a practicing specialist, not only in their own field, but to also go above and beyond their perceived limitations.  

Managing Complexity

Complexity management is a methodology that deals with the analysis and optimization of complexity in business enterprises. The effects of complexity pertain to all business processes, especially along the value chain, to which complexity management requires a holistic approach, coupled with REAPRA’s unique self-reflection model.

Journey towards Mastery

By taking cue from both living and historical masters of their individual craft, REAPRA seeks to extracting the essence of the mastery journey, as expounded by author, Robert Greene, and to apply to each and every member of our organisation, in becoming the better version of ourselves.

Grounded in Reality 

The principles to which we subscribe to are all grounded in real and actual business applications, based on the experience of our founder,
Shuhei Morofuji. 

Shuhei morofuji

Shuhei, who founded SMS - one of the largest Asian healthcare information platforms with presence in over 13 countries and over 30 different revenue streams - is your quintessential entrepreneur.

After being the CEO for 11 years, he relinquished his position at SMS in 2013, and embarked on a journey to support the start-up scene. To which REAPRA was founded, and B80P, came into being.

The first, at 25

Shuhei Morofuji's path, upon graduation, seemed destined to be that of the average salaryman in Japan. However Shuhei wanted something else, a better, different way towards defining his own success. He had a keen appetite for the study of different business models since childhood, to which in University, he started to create small businesses to learn and to test his ideas. It was this experimental mindset, and his unwillingness to accept the path of an average salaryman, that led him to start his own company at 25.

02

Identifying promising business fields

Despite his lack of experience in the healthcare industry, and it’s high barriers to entry, Shuhei took the path less taken and sought to improve the situation of Japan’s ageing population - an industry that he identified as a promising business field. Based on his observation of key fundamental indicators, this segment was primed for long-term growth. The percentage of older people in Japan would only continue to rise and more importantly, this group of people held most of the country’s assets. Going into traditional healthcare services like retirement villages or aged care facilities, would require a lot of investment, and Shuhei had very limited resources. Thus, he needed to find an asset-light business model that could solve the growing pains of the sector.

03

His first failure

Shuhei raised a small round of funding from friends and family to start this business, and he was determined to build a profitable business with this hard-earned capital. But his first foray into the market did not go well. The business was an online agency that specialised in helping elderly people find accommodation, complete with suitable facilities and available care. But when Japan’s long-term care insurance system came into operation in 2000, competition increased and fees dropped, rendering the business unprofitable. Failure is incredibly hard to accept in the Japanese culture, but Shuhei remained undaunted. He soldiered on and began research on the problems faced by the traditional healthcare operators. To which he identified the biggest pain point was in recruitment. In response, he set-up SMS Co., Ltd, starting with an online recruitment tool to connect hospitals and retirement homes with staff. This business model became profitable in less than 12 months of operations.

04

Building an eco-system

Even with this initial success, Shuhei pressed on, not stopping at just a single product offering. With profits earned from the online recruitment tool, SMS was able to expand into other B2B and B2C revenue models. It now operates more than 20 web-based services to meet the needs of the elderly healthcare and medical industries, companies supplying it, those working in it and the elderly themselves. These include platforms that provide healthcare advice from industry professionals to the people caring for elderly relatives. It is also an online community for care workers and managers as well as a healthcare certification platform for those employed in the sector and an education admission referral platform for healthcare training schools. With 80 per cent of Japan’s numerous elderly-care companies consisting of independent, often family-run, companies, SMS developed a dedicated information management system, which is now used by more than 15,000 operators. The interconnectivity of the various business models feeds unique data that empowers SMS' big data capabilities, to identify new areas of opportunity and to drive growth. Building an eco-system of profitable businesses, and its ability to be ahead of the curve in identifying new opportunities, is SMS' overarching strategy to build a sustainable company for the next 50 to 100 years.

05

IPO in 5

In bringing SMS from start-up to IPO in just 5 years, Shuhei has established himself as one of the fastest, and also the youngest entrepreneur in Japanese history to do so. SMS was listed on the Tokyo Stock Exchange’s Mothers section for high-growth start-up companies in 2008, at a market cap of over USD 60M and was promoted to the main board in 2011. As the populations of other Asian countries continue to age rapidly, SMS was well-positioned to expand outside of its home country, to which Japan now has a 20-year head start on this sector. With the capital raised through the IPO, SMS expanded into China, as well as in the greying nations of South Korea and Taiwan.

06

Stepping aside to ensure sustainability

Having run SMS for a decade, Shuhei decided the time had come to step aside for the next CEO to take the reins. His study of organisational longevity brought the realisation that companies run by their founders over a long period of time, tend to underperform - often becoming vehicles to implement the founder’s will. In order to develop an organisation that can thrive for 50 or 100 years, it was thus important to nurture talent within the company and provide a progression path for them, to potentially become the next CEO. Thus in 2014, Shuhei passed the baton on to the next CEO, Natsuki Goto, and since taking over, Goto has doubled SMS’ revenue. Today the market cap is above USD 1 billion, and Shuhei continues to own about 20% of the company.

07

Dedicated to a new mission

As part of his new mission, Shuhei has moved to Southeast Asia, as he was drawn by the long term growth prospects and complexity of the markets in the region. He began his research and started angel investing in 2014 to understand the business landscape and behaviour of entrepreneurs. He saw many untapped business opportunities in Southeast Asia and was encouraged by the eagerness and adaptability of entrepreneurs in the region. He then decided that the best way forward was to build businesses in SEA, at scale. At 35, he dedicated himself to this new mission. And so began Reapra, a venture builder that invests in self-motivated entrepreneurs who are driven to build long term sustainable businesses.

An Unconventional Approach

We're looking for businesses that can last longer than just a lifetime. At the heart of Reapra’s investment philosophy lies the Promising Business Field, a heavily researched methodology that we apply to evaluate opportunities for their long-term potential.

Alignment with 
Our Mission and Vision

This affects the growth and development of every business in our portfolio by these reasons — first, Reapra’s ecosystem of subsidiaries are driven by the same mission to collaborate and co-learn. Second, the confidence of Reapra stakeholders to continually invest and grow the business as a partner with Reapra’s long term view on investment.

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Manoeuvring Market Economics & Dynamics

We provide a checking function to ensure no oversight on regulatory constraints that may inhibit the business. Reapra invests in research on market trends and demographic shifts to understand economies and consumer behavior changes. The entrepreneur can tap upon our knowledge and research expertise to tackle production value chain challenges or design the business strategy.

Visionary Venture Building

Whether from just an idea or an early stage start-up, we are interested in entrepreneurs who focus on scaling or transforming traditional business models through digitization.

We are keen to discover nascent industry segments that have great potential to scale and not yet dominated by one or few players.

Strong and clear value proposition

Niche focus to test the product-market fit, in order to navigate complex macro-level market dynamics.

Lean model

Driving organic growth by tapping into technology or creative strategies to effectively manage sales and operation costs well below market norms.

Active Two-Way Partnership

We provide value-add to all portfolio companies through our mentorship, hands-on support and extensive business network to support growth.

The Build 80 Journey

Coming together to shape your entrepreneurship experience

It's about cultivating the next generation of entrepreneurs

Our commitment at REAPRA, is to coach entrepreneurs to develop their innate capabilities, to turn weaknesses into strengths and; to create profitable, valuable and sustainable companies.

It’s About Hands-On Support

The team at REAPRA are all functional specialists in their own right. With a wealth of experience that translates to practical, applicable and real-world support by way of on ground consultancy and mentorship. In our midst, we have specialists in the functional fields of Technology, Research, Finance, Human Resource, as well as Marketing & PR. 

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Adaptable. Flexible.
And Committed.

We are here for the long run. Typical VCs funds are inherently confined by their mandate and fund life, so they look for financial returns in a relatively shorter time span. At REAPRA, we look to become a 100-year company. Our efforts are geared towards this vision. Our teams are purposefully designed to support individual entrepreneurs in depth, to look into nurturing their personal development first, to which we then apply the right support framework for that particular business.

Ready to kickstart
your entrepreneurship
journey with us?