YJ Capital, the corporate venturing arm of internet company Yahoo Japan, has invested an undisclosed sum in venture capital firm Monk’s Hill Ventures’ first fund, TechCrunch reported earlier today.
Yahoo Japan is a joint-venture between internet company Yahoo and telecommunications company SoftBank.
Founded in 2014, Monk’s Hill is aiming to secure $80m for its inaugural fund and close it by the end of September 2015. The fund is expected to operate for four to five years and primarily target startups in Southeast Asia and companies from other geographies that want to expand into that market.
Yahoo Japan and Monk’s Hill will give each other access to their respective networks and work together to identify deals.