Dogan Beta, Japan-based investment and consulting services firm Dogan’s venture capital arm, has launched its fourth vehicle with $14m from limited partners (LPs) including a range of corporates.
The Beta 2020 Fund was formed on May 15 this year and is targeting ¥2.5bn ($23.3m) for its final close. The $14m first close was anchored by financial services firm Yamaguchi Financial Group (YMFG), which put up roughly 67% of the capital.
Mobility and insurance group Daiichi Koutsu Sangyo and QTnet, a subsidiary of electric utility Kyushu Electric Power, also invested, as did media company Fukuoka Broadcasting, apparel and real estate group Sehm, property developer Meiji Sangyo and other, undisclosed backers.
Dogan is currently seeking additional external investors for the Beta 2020 Fund, which will back entrepreneurs based in the Kyushu region of Japan that are developing innovative projects.
The initiative is expected to run for 12 years and combine Dogan’s entrepreneurial support system and YMFG’s local startup business development work to foster the Kyushu ecosystem.
