Japan-headquartered entertainment group Sega Sammy has launched a $20m fund, in partnership with venture capital firm Fenox Venture Capital.
Fenox will manage the fund, which will invest globally in advanced technologies, backing startups with the potential to collaborate with Sega Sammy in future. The two are also partnering to establish a co-working space in the city of Tokyo.
The firm was appointed general partner of Sega Sammy’s corporate venture capital fund in 2015 and has since funded portfolio companies including emotion recognition software provider Affectiva, personal assistant developer X.ai and quantum computing technology business QC Ware.
Haruki Satomi, president and chief operating officer of Sega Sammy, said: “We have been investing in the world’s top startups with Fenox Venture Capital for three years.
“We are delighted to expand the scale of the fund and increase our investments in cutting edge technologies around the world, helping us to strengthen our business activities on a global scale.”
Formed through the merger of games producer Sega and pachinko manufacturer Sammy, the corporate has more than 70 subsidiaries operating in activities including digital gaming and amusement machines, toys, animation production and resort facilities.