Sho-Zemi Innovation Ventures, the corporate venturing arm of Japan-based tutoring school network Sho-Zemi, plans to open an office in Singapore and target startups in Southeast Asia, DealStreetAsia reported on Monday.
Sho-Zemi is also preparing to raise its first fund, which it hopes to close at around $10m, and which would be invested over three-to-four years. The unit focuses on education-related startups and invests in seed and series A rounds, providing cash amounts ranging from a few tens of thousands of dollars to $1m.
The Singapore office will serve as a connecting hub for the firm’s investments in Japan, North America and Europe. Sho-Zemi also plans to collaborate with an as yet unnamed accelerator in the city-state.
Sho-Zemi revealed plans earlier this month to open its first base outside Japan in Silicon Valley, joining the EdTech Innovation Lab at Stanford University-based GSVLabs.
Sho-Zemi has only made one investment to date, participating in a $1m seed round for game studio Monkimun in March 2015, alongside investment firm Incuvest and assorted angel investors.