Fuji Startup Ventures (FSV), the corporate venturing arm of Japan-based media group Fuji Media, launched a second vehicle sized at ¥5bn ($45.8m) yesterday.
Founded in 2013, FSV targets advertisement, artificial intelligence, e-commerce, education, entertainment and internet-of-things technology developers. Its $16m first fund concentrated on early-stage internet and mobile-focused companies.
The new fund will have a similar focus but will not limit its investments to specific sectors, expanding to cover areas including medical and financial technologies according to Nikkei.
The vehicle will participate in mid and later-stage deals in Japan and elsewhere over the next decade, in a bid to drive strategic alliances on behalf of the corporate.
FSV has publicly disclosed 16 investments out of its initial fund including bilingual education app developer SmartEducation and 3D printing technology provider Kabaku. Kabaku is among its exits, along with classified advertising platform Jimoty and online technology news portal The Bridge.
Fuji Media intends to also expand the scope of business and content partnerships with portfolio companies through the second fund, accessing their technology and expertise in the process.
