Japan's Mixi launches $50m India VC fund
Japanese social media company Mixi has set up a USD 50m corporate venture capital fund targeting Indian start-ups.
Mixi Global Investments will target consumer segments with a special interest in entertainment. The fund will make investments of up to USD 2m per deal, backing about 30 start-ups across the next four years.
It comes on the back of a boom in India’s consumer media technology scene, where EY predicts revenue will grow from INR 291bn (USD 4.5bn) in 2021 to INR 425bn by 2025 – excluding online gaming.
It also marks a period of rapid internationalisation for Japanese VC investors, much of which has involved corporate-focused mandates. The trend has also featured a significant focus on India, with other Japanese investors targeting the country including Strive Ventures, Beyond Next Ventures, and Dream Incubator.
Jafco’s Singapore-based Asia ex-Japan business has likewise pushed aggressively into India, having recently hired its first in-country investment director. It has invested in six Indian companies between September 2021 and March 2023.
Mixi raised about USD 5m in private funding before going public on the Tokyo Stock Exchange in 2006. It has otherwise been active in corporate VC investments via units called Mixi Entertainment Fund and i Mercury Capital.
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