Gree Ventures, the corporate venturing fund launched by Japan-based internet media company Gree on Wednesday last week, has laid out more specific plans as to where it plans to invest, according to technology investment website Penn Olson.
Penn Olson quotes Tatsuo Tsutsumi, a representative of Gree, as disclosing that out of the ¥2bn ($25.7m) set aside for the fund, half will be invested in Indonesia.
Tsutsumi is quoted as saying: "[Our focus is on] content (including gaming) and advertisement. Now we are considering investing in some Indonesian startups. We will plan to establish the investment arm in Indonesia, however [we] don’t have a good candidate now. So we are looking for good talent in Indonesia."
Founded in 2004, Gree operates Japan’s largest social network. Gree Ventures was launched with the express aim of investing in internet-related startups in East and SouthEast Asia, and follows Gree’s acquisition of US-based social mobile gaming platform OpenFeint for $104m in April.