The corporate venturing unit of CyberAgent has set up an incubation office in Tokyo, while the unit’s first fund raised Y2bn ($24m) in February.
The office was 1,200 metres squared and would be for the unit’s portfolio companies and its partners, CyberAgent said.
CyberAgent also said Japan-based social networking companies Mixi and Xing as well as mobile marketing company D2 Communications and the Organization for Small & Medium Enterprises and Regional Innovation, part of the country’s Ministry of the Economy, Trade and Industry, had backed its fund, CA Startup Internet Fund I, along with other corporations and institutional investors.