Japan-based venture capital firm Headline Asia has closed its fourth vehicle at more than $100m featuring various corporate limited partners (LPs), DealStreetAsia reported today.
Diversified conglomerate Abico Group, digital media company Gree’s Strive fund (formerly Gree Ventures), social media platform operator Mixi and retail group Otto contributed to the fund, as did state-owned National Development Fund of Taiwan and private investor Kotaro Chiba.
Founded in 2009 as Infinity Ventures before rebranding as Headline Asia in May this year alongside fellow VC firm E.Ventures (formerly BV Capital), the firm focuses on early-stage internet, e-commerce and financial technology developers based in northeast Asia.
The firm initially announced the size of the fourth fund to be $120m when it reached a first close of undisclosed size in early 2019 featuring Mixi, Gree Ventures and Chiba. It intends to back some 40 companies, providing between $1m and $5m per deal.
Akio Tanaka, founding partner of Headline Asia, told DealStreetAsia: “We hope to deliver a unique global perspective to local investments in Asia, and look forward to growing with the next generation of great entrepreneurs.”
