Gree Ventures raises Asia start-up fund worth $50m

Reading Time: 2 minutes

venture_capitalTokyo-based venture capital firm Gree Ventures announced that is has collected cash for its second start-up fund of around 5 billion yen (some $50 million). The fund, dubbed AT-I Investment Limited Partnership, has attracted key regional investors including parent company Gree, SME Support Japan, Credit Saison, Ateam, and Mizuho Capital.

A second closing will be announced this summer as Gree Ventures continues fundraising. As with previous investments, the firm will take a broad approach that excludes gaming. The fund will be allocated to series A investments ranging from roughly $1 million to $3 million per company.

“Although a wholly owned subsidiary of Gree, Gree Ventures does not seek synergies with its parent company, in contrast to the standard practice of many corporate venture capital firms, maintaining a broad approach to the overall ICT sector instead of targeting investments in the gaming and content publishing sectors that comprise Gree’s core business,” the company announced in a statement.

Gree Ventures has already invested in 13 startups – the bulk of which are located in Japan and Indonesia (with one in Singapore). The new fund will maintain its focus on East Asia, with the exception of China, while broadening its reach into Southeast Asia.

“While we’re still interested in Indonesia and Singapore, we’ll also be broadening our field of view to take in Southeast Asia as a whole, particularly markets like Thailand and the Philippines,” Ronan Hand, a Gree Ventures spokesperson, said according to Tech in Asia.

He added that the investment team would seek out start-ups that specialise in building up proven consumer internet business models, but in markets where no winner for certain verticals has emerged.

Some of Gree Venture’s notable investments include online women’s fashion store Berrybenka, ad tech company Geniee (that handles 1 trillion bid requests every month) and crowd sourcing platform Kaizen. One of its Indonesian portifolio companies, PriceArea, was acquired by Yello Mobile earlier this month.

The news came just after the arrival of another new fund, established by Singapore-based Monk’s Hill Ventures for an even bigger $80 million, and also a $620 million fund announced by GGV Capital.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Tokyo-based venture capital firm Gree Ventures announced that is has collected cash for its second start-up fund of around 5 billion yen (some $50 million). The fund, dubbed AT-I Investment Limited Partnership, has attracted key regional investors including parent company Gree, SME Support Japan, Credit Saison, Ateam, and Mizuho Capital.

Reading Time: 2 minutes

venture_capitalTokyo-based venture capital firm Gree Ventures announced that is has collected cash for its second start-up fund of around 5 billion yen (some $50 million). The fund, dubbed AT-I Investment Limited Partnership, has attracted key regional investors including parent company Gree, SME Support Japan, Credit Saison, Ateam, and Mizuho Capital.

A second closing will be announced this summer as Gree Ventures continues fundraising. As with previous investments, the firm will take a broad approach that excludes gaming. The fund will be allocated to series A investments ranging from roughly $1 million to $3 million per company.

“Although a wholly owned subsidiary of Gree, Gree Ventures does not seek synergies with its parent company, in contrast to the standard practice of many corporate venture capital firms, maintaining a broad approach to the overall ICT sector instead of targeting investments in the gaming and content publishing sectors that comprise Gree’s core business,” the company announced in a statement.

Gree Ventures has already invested in 13 startups – the bulk of which are located in Japan and Indonesia (with one in Singapore). The new fund will maintain its focus on East Asia, with the exception of China, while broadening its reach into Southeast Asia.

“While we’re still interested in Indonesia and Singapore, we’ll also be broadening our field of view to take in Southeast Asia as a whole, particularly markets like Thailand and the Philippines,” Ronan Hand, a Gree Ventures spokesperson, said according to Tech in Asia.

He added that the investment team would seek out start-ups that specialise in building up proven consumer internet business models, but in markets where no winner for certain verticals has emerged.

Some of Gree Venture’s notable investments include online women’s fashion store Berrybenka, ad tech company Geniee (that handles 1 trillion bid requests every month) and crowd sourcing platform Kaizen. One of its Indonesian portifolio companies, PriceArea, was acquired by Yello Mobile earlier this month.

The news came just after the arrival of another new fund, established by Singapore-based Monk’s Hill Ventures for an even bigger $80 million, and also a $620 million fund announced by GGV Capital.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid