Japan-based mobile solution provider IMJ Corporation has joined forces with US-based Fenox Venture Capital to form IMJ Fenox, a $4m investment fund that will target start-ups in south-east Asia.
According to IMJ, the corporate venturing unit will invest for a 74.37% stake in the fund and Fenox will make up the balance.
IMJ’s existing corporate venturing unit, IMJ Venture Partners, which invests and acts as an incubator of digital marketing companies, will be merged to the new company.
The fund will specialise in mobile, internet and software technologies in south-east Asia, Japan and the US.
The fund will be managed from Singapore.