Japan's Rebright launches $20m fund for India start-ups
Rebright Partners - an early-stage investor backed by a consortium of Japanese internet companies - has formed a JPY2.4 billion ($20 million) fund to invest technology start-ups in India.
The new fund, called Rebright Partners II Investment Partnership, will focus on consumer mobile technology businesses. The fund is Rebright's third after its maiden Southeast Asia vehicle, which launched in 2011, and the Indonesia-focused Batavia Incubator.
According to a release, to conicide with the fund launch, Rebright has appointed Brij Bhasin, from Bangalore-based accelerator GSF, as an investment manager in India, while Takumi Kawai of Deloitte Tohmatsu will fill the same role in Southeast Asia.
Rebright's investments in the India include big data start-up Tookitaki and news curation app Newsinsorts. According to a report by industry consultant eMarketer, India is set to overtake the US as the second-largest market for smart phone users in 2016.
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