Japan-based venture capital firm Infinity Venture Partners (IVP) has secured $32m from backers including several corporates for its third fund, The Bridge reported yesterday.
Human resources company Recruit Holdings, game developer Sammy Networks, mobile content developer Orso, social network operator Mixi, internet holding company United and investment bank Daiwa Securities are among the limited partners to have invested in the fund, Infinity e.ventures Asia III.
IVP has invested approximately $128m in 40 start-ups since it was founded in 2009, targeting early-stage companies in Japan and China.
Companies the firm has invested in according to its website include daily deals provider Groupon Japan, app data provider App Annie and YouTube network Maker Studios.
IVP plans to close the fund at $100m in 2015, and will seek to raise funding from foreign backers that have invested in its first two funds.
Japan-based corporates to have committed capital to IVP in the past include telecommunications firms KDDI and OPT, internet company DeNA and financial services provider Mitsubishi UFJ Capital.