Akatsuki Entertainment Technology (AET) Fund, the $50m investment fund managed by Japan-headquartered mobile game developer Akatsuki, has invested undisclosed sums in five US-based startups.
Founded in 2010, Akatsuki develops mobile games and also produces feature films and other entertainment content through its US-based film and television division, Akatsuki Entertainment USA.
The company launched AET Fund in late 2017 to back startups focusing on innovative entertainment technologies such as virtual reality (VR), augmented reality and mixed reality products.
Akatsuki has already used the vehicle to back more than 20 startups in the US and India to date. Its new investments include Blutag, a voice-based shopping startup that graduated from e-commerce, connected device and cloud computing company Amazon’s accelerator.
The vehicle has also provided cash for Karuna Labs, a developer of VR software designed to treat chronic pain; video-based shopping startup Popshop; mobile video editing platform Trash; and Steereo, a music marketing and analytics technology developer that graduated from accelerator Quake Capital in 2018.