Japan-based mobile gaming company KLab is set to transfer its corporate venturing activity to a newly formed unit called KLab Venture Partners, Tech in Asia reported yesterday.
KLab has up until now conducted its investments through KLab Ventures, a venture capital fund that acted as a joint venture between it and Japan-based financial services firm SBI, but KLab Venture Partners will operate as a wholly owned subsidiary.
The company is in the process of raising capital for KLab Venture Partners and aims to close the fund by the end of 2015. The unit will seek out IT technology developers in Japan, the US and Southeast Asia, and intends to open an office in the Philippines next year.
Companies that have received funding from KLab Ventures include gameplay recording app Kamcord, online reward platform Yoyo Holdings and music hardware developer Beatrobo. It will continue to support its portfolio with follow-on investments.