E-commerce firm Rakuten has launched a venture capital fund targeting startups in Japan.
Rakuten Ventures announced on Friday the launch of the Rakuten Ventures Japan Fund, a 10 billion yen (US$84 million) venture capital fund targeting investments in startups in Japan.
Building on successes in Israel, Asia Pacific and the USA with Rakuten Ventures 2013 Southeast Asia Fund and 2014 Global Fund, the new Rakuten Ventures Japan Fund aims to empower the expanding community of Japanese startups with advanced technology and business models.
The fund operations will be run out of Singapore by Managing Partner SaeMin Ahn and Investment Manager Hogil Doh.
Driving Synergies
The new fund is aimed at early and growth stage internet startups in Japan, with a strong focus on unique technologies and business models, as well as high growth potential. «Rakuten Ventures will also seek to support business growth by driving synergies with the technologies and platforms of the Rakuten Group,» said Rakuten CEO Hiroshi Mikitani.
Going forward, Rakuten Ventures aims to empower entrepreneurs and the Internet industry, and further expand the size and scope of its investments both in Japan and around the world.
