AVCJ

Japan's Venture United raises $11m fund

  • Andrew Woodman
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Venture United - the corporate investment arm of Japanese media group United - has raised a new JPY1.26 billion yen ($11 million) fund focusing on internet-related start-ups.

The fund's investors include the Digital Advertising Consortium (DAC), the Organization for Small & Medium Enterprises and Regional Innovation Japan (SMRJ), SBI Securities, Fusion Communication - a unit of e-commerce firm Rakuten - and ad agency Hakuhodo.

According to a release, the so-called DAC Venture United Fund No. 1 will have a five year life-span with the option to extend for two years.

AVCJ Research shows that this is the fourth fund raised by Venture United - formerly Netage Capital Partners.

Previous investments by Venture United and its parent company - which is known for developing it own smartphone home screen app CocoPPa - include: Lifenet Insurance; social shopping site Enigmo; game developer Unoh, which was acquired by Zynga in 2010; and mobile advertising service Nobot, which was acquired by KDDI unit Mediba.

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