Japan-based venture capital firm Genesia Ventures closed its second fund at roughly ¥8bn ($76.3m) on Monday, with several corporates chipping in as limited partners (LPs).
Canal Ventures, Canon Marketing Japan, Hakuhodo DY Ventures, Mizuho Capital, Oriental Land Innovations and TFHD Open Innovation Program invested on behalf of IT services firm Nihon Unisys, imaging technology producer Canon, marketing firm Hakuhodo DY, financial services firm Mizuho Financial Group, theme park operator Oriental Land Company and property developer Tokyu Fudosan Holdings respectively.
Printing services firm Dai Nippon Printing, digital media company Gree, retailer Marui Group and internet company Mixi were also among the LPs, as were brokerage Aizawa Securities, leasing services firm JA Mitsui Leasing, state-owned Development Bank of Japan and Mizuho Financial Group’s Mizuho Bank and Mizuho Securities Principal Investment subsidiaries.
Founded in 2016, Genesia Ventures invests in and partners seed and early-stage companies that are based in Japan and Southeast Asia.
The firm has offices in Tokyo, Japan; Jakarta, Indonesia; and Ho Chi Minh City, Vietnam, and its $35m first fund has a portfolio of 47 startups across the region including Autify, Bobobox and Docquity.
Genesia Venture Fund II reached its $45m first close in January 2019, by which time it had already received backing from JA Mitsui Leasing, Marui Group, Mixi, Mizuho Bank, Mizuho Capital and TFHD Open Innovation Program. It was initially targeting an $80m final close for the vehicle by September 2019.
The second fund will have a similar focus to its predecessor and will concentrate on software-as-a-service, e-commerce, augmented and virtual reality technologies among others.
