Japan-headquartered internet group CyberAgent’s corporate venturing unit, CyberAgent Capital (CAC), has formed a ¥6bn ($55.5m) third Japan-focused vehicle dubbed CA Startups Internet Fund 3.
Formed in 2006 as CyberAgent Ventures, CAC operates in 10 cities across eight countries including Japan, China and South Korea as well as various Southeast Asian markets such as Indonesia and Vietnam.
The latest iteration follows CA Startups Internet Funds 1 and 2, which were equipped with $30.4m and $49.3m of capital respectively, as well as the $19m CA Jaic China Internet Fund II, the $5m CA Korea Fund I and the $20.1m Southeast Asia-focused CA Asia Internet Fund I.
The unit has invested in more than 350 early-stage companies, having exited some 50 through initial public offerings, including Crowdworks, Kaizen Platform, Space Market and VisasQ.
In addition, the CyberAgent Group provides industry know-how to CAC’s portfolio companies in areas including business development and public relations.
The corporate also runs Monthly Pitch events which help match seed-phase entrepreneurs with venture capitalists, in addition to the mid-stage Fujita Fund, which is overseen by CyberAgent president and CEO Susumu Fujita.
