Eight Roads leads $8m round for Japan's Port
Eight Roads Ventures Japan has led a JPY900 million ($7.9 million) round of funding for Tokyo-based online content developer Port.
Existing investors Mitsubishi UFJ Capital and Global Brain Corporation also participated in the round, according to a statement. The new capital will be used to improve media content, strengthen technical capabilities, and launch new businesses.
Port primarily offers hiring and social media consulting services to Japanese businesses. It also operates several vertical media sites, including career-building tips site CareerPark and travel tips site Tabimo. The company is preparing for the beta test of its medical consulting platform Port Medical, which will allow patients suffering from chronic illnesses to consult doctors online.
Eight Roads, formerly known as Fidelity Growth Partners, is active across several markets in Asia. Its investments in Japan in the last year include a $5 million Series B round for online ticketing platform Peatix led by DG Incubation, and an $8.2 million round for social restaurant guide Retty.
Global Brain has also supported a number of players in Asia's online media space; last month it committed $7 million in Series A funding to Singapore-based adtech company Eyeota, alongside Infinity e.Ventures and Project A Ventures, and it led a $19 million Series B round with Telstra Ventures for Indian mobile ad platform Adnear.
The firm recently joined with Mitsui Fudosan-sponsored 31 Ventures to launch a JPY5 billion fund aimed at investing in start-ups globally.
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