Japan's Global Brain targets $174m for sixth fund
Japanese venture capital firm Global Brain has launched its sixth fund, targeting JPY20 billion ($174 million), which will be deployed in domestic technology companies.
The vehicle has reached a first close of $130 million and is expected to be fully committed by mid-2017. According to a statement, LPs include the Cool Japan Fund, travel agency JTB, Sumitomo Mitsui Banking Corporation, Sumitomo Forestry, Information Services International-Dentsu, electronics company Koden and KDDI Open Innovation Fund.
It is likely to concentrate on the internet-of-things, robotics, education, tourism and inbound industries. Invested companies will be supported in international networking via Global Brain contacts in the US, Korea, Southeast Asia and Israel. This effort will aim to strengthen Japan's profile and global competitiveness.
"With the Tokyo Olympics and Paralympics happening in 2020, Japan is in a time of change," Yasuhiko Yurimoto, president and CEO of Global Brain said, according to Tech In Asia. "We want to create an ecosystem that links [this progress] to a future beyond the Olympics."
Founded in 1998, Global Brain typically invests in seed to middle-stage IT start-ups, and as of October claimed about $242 million in funds under management. It launched a JPY5 billion VC fund alongside 31 Ventures earlier this year.
Recent investment by the firm includes participation in a $20 million round for online printing start-up Raksul and a $5 million Series A for US-based financial technology company Coins.
More on Fundraising
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.