Salesforce launches $100m Japan VC fund

The firm said Japan Trailblazer Fund would leverage a doubling in the size of the Japanese cloud services market between 2018 and 2022 to more than $13 billion. Investees are set to benefit from access to an existing Salesforce Ventures network of 40 Japanese portfolio companies.

Previous investments in the country include automated online accounting software developer Freee, career networking services company BizReach, and cloud-based attendance management system provider TeamSpirit. In 2016, Salesforce Ventures backed a Series C round for Sansan, a cloud-based business card management services company.

"There is incredible innovation happening in Japan today, and the Japan Trailblazer Fund represents our continued commitment to Japanese startup growth and customer success," John Somorjai, an executive vice president at Salesforce Ventures, said in a statement. "With this new fund, we are excited to further support innovative Japanese entrepreneurs and empower the next generation of enterprise cloud companies that will benefit our customers."

Activity among corporate VCs is ramping up in Asia as strategics look to access new technology and position themselves for future growth. Recent activity in Japan includes the creation of Panasonic Ventures and Alliance Ventures, which combines the resources of Nissan Motor, Mitsubishi Motors and France's Renault. Last month, telecom giant NTT Corporation set up a $500 million VC fund that will focus on digital technologies, including cybersecurity.

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• Topics
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