Japan-based e-commerce firm Beenos has invested $5m in Beenext, a $60m fund launched by the company’s founder Teruhide Sato, Tech in Asia reported on Monday.
The fund will operate out of Singapore and focus on startups based across Japan, India, Southeast Asia and the US that are developing technology for the internet and mobile sectors.
The remaining capital will be provided by private investors, while Beenext will offer funding, operational know-how and access to a global network.
Five startups in India have so far attracted funding from Beenext, including e-commerce company Shopclues, payments processing service Citrus Pay, and KartRocket, which handles payments processing and shipping for e-commerce sites.
BuyHatke enables users to find the best deals across several e-commerce companies, and Droom operates a marketplace for new and second-hand cars.