CyberAgent Ventures, the corporate venturing unit of the eponymous Japan-based games group, is launching a crowdfunding business subsidiary called CyberAgent Crowd Funding later this summer. The new subsidiary will aim to match student driven venture projects and investors.
To date, Y40m( $415,000) has been earmarked for the fund, which will be invested over the next year with a view to raise $1m each month for its listed projects.
While crowdfunding is still in its infancy in Japan, the number of platforms is growing. Other examples of existing crowdfunding services includes Readyfor, Capfire and Green Girl, noted a Tech in Asia report. According to news reports, crowdfunding platform, One More, which provides ASP service and consulting projects raised YEN20m ($208,000) from individual investors to date.