Japan’s Gree Ventures closes second fund at $67m

The fund, named AT-II Investment Limited Partnership Fund, was launched in April last year. Apart from Gree, the fund has also received third-party capital from Japanese corporate and financial institutions such as the Organization for Small & Medium Enterprises and Regional Innovation, and members of the Mizuho Financial including Mizuho Bank, Mizuho Securities Principal Investment, and Mizuho Capital, a statement said. 

While Gree Venture’s first fund was focused on Southeast Asia and Japan, the second fund will also look at India as a target. It plans to act as a lead investor in each deal, providing financing of $500,000 to $3 million for seed to Series A stage internet start-ups.

The second fund has so far invested in ten Asian start-ups, including Indonesian mobile payments platform Ayopop, and Indian female-focused content platform PopXo.  

Established in 2011 with current assets under management of about $120 million, Gree Ventures has made more than 40 investments in Asian start-ups. While Gree Ventures operates independently, the GP does not make investments in sectors that have business synergies with Gree – primarily in the gaming and media sectors. Through leveraging Gree’s domestic and overseas network, the VC firm says it can identify promising investment targets in the broadly defined internet sector and provide deeper support to portfolio companies.

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• Topics
• North Asia
• Fundraising
• Venture
• Technology
• Early-stage
• Japan
• TMT
• Gree Ventures