Rakuten Ventures, the corporate venturing arm of Japan-based e-commerce firm Rakuten, launched a ¥10bn ($85m) fund today that will invest in startups in its home country.
Rakuten Ventures Japan Fund will target early and growth-stage companies, particularly those with as high growth potential, unique technologies and business models. It also aims to find startups that can synergise with its parent company’s technology and offerings.
Although its investment focus is in Japan, the fund will be run out of Singapore by SaeMin Ahn, who will act as managing partner, and investment manager Hogil Doh.
Ahn said: “We are honoured to have a chance to participate in the Japanese startup community.
“With the launch of Rakuten Venture Japan Fund, we hope not only to find the right fit in domestic startups but also bridge western and Southeast Asian market opportunities with brilliant founders from Japan.”
Rakuten Ventures was originally launched in 2013 with a $10m Southeast Asian-focused fund, which was joined the following year by a $100m fund for investments in startups based in the US, Israel and Asia Pacific region, and a $100m fintech fund in November 2015.