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Rakuten launches $84m Japan venture fund

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Rakuten Ventures, the corporate VC arm of Japanese e-commerce giant Rakuten, has launched a JPY10 billion ($84 million) fund targeting start-ups in Japan.

The Rakuten Ventures Japan Fund will seek investment opportunities in early and growth stage Japanese internet start-ups. It will focus on companies with unique technologies and business models that offer potential for synergies with Rakuten Group's businesses, along with the venture arm's other portfolio companies.

Rakuten Ventures' Managing Partner Saemin Ahn and Investment Manager Hogil Doh will run the fund operations, which will be based in Singapore.

"We are honored to have a chance to participate in the Japanese startup community," said Ahn in a statement. "With the launch of Rakuten Venture Japan Fund, we hope not only to find the right fit in domestic startups but also bridge Western and South East Asian market opportunities with brilliant founders from Japan."

Rakuten's previous funds have tended to focus outside of the country: it launched a $100 million global VC fund in 2014 focused on start-ups in Asia-Pacific, Israel and the US; and the $100 million global fintech fund that it launched last year is intended to operate primarily in the US and Europe, at least at first.

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