E-commerce and internet company DMM.com is set to form a ¥10bn ($89m) venture capital vehicle called DMM Ventures that will acquire minority stakes in early-stage businesses, TechCrunch Japan has reported.
Japan-based DMM runs an online platform that includes e-commerce stores for products including e-books, smartphones and robots, along with information on topics such as cryptocurrency and a tool for practising the English language.
DMM Ventures’ objectives will include supporting the prospects of young entrepreneurs and injecting fresh life into the venturing community.
The fund will also balance out DMM’s existing involvement in acquisitions, according to company president Keiji Kameyama, enabling it to play an earlier role in the business development process.
– Image courtesy of DMM.com