Oak Capital invests $6.6m in Japan's K-Lab

Set up in 2000, the company's flagship apps include social role playing game (RPG) Lord of Dragons and rhythm game Love Live! School Idol Festival - both of which are available on the Apple App Store and Google Play.

The company listed on the Tokyo Stock Exchange Mothers (market of the high-growth and emerging stocks) in September 2011 and first section of the Tokyo Stock Exchange in May 2012. As of the end of June the company had JPY1.79billion of paid in capital.

According to a release, the company intends to use the capital investment to expand the business globally.

This is the second Japanese mobile game developer to receive VC funding this month. KDDI Open Innovation Fund joined CyberAgent Ventures and Japanese entertainment company FuRyu in committing a total JPY230 million to Japanese game developer Mutations Studio.

During last month's AVCJ Japan Forum, venture capital investors remarked that the mobile internet space held the most promise in a largely untapped Japanese VC space.

"In the past, the US was ahead when it came to offering internet services but with the migration to smartphones and mobile internet, countries like Japan and Korea are becoming major players," said Soichi Tajima, president of CyberAgent Ventures. "There is room to create more business in emerging economies and this is where Japanese VCs can play a role."

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• North Asia
• Technology
• Venture
• Japan
• TMT
• Venture