CyberAgent launches $50m start-up fund
CyberAgent Ventures, the corporate VC arm the Japanese internet firm, has formed a new fund worth JPY5 billion ($49 million).
The fund, called CA Startup Internet Fund No.2, is almost double the size of its predecessor.
CyberAgent's last start-up fund launched in July 2011 with a corpus of JPY2.5 billion and is now fully deployed. Recent investments include 3D product marketplace operator Kabuku, food delivery service OKan and private photo sharing application Spicy Cinnamon.
According to a release, the new fund will continue to focus on internet-related businesses but will also branch out into other areas such as internet-of-things (IoT). It plans to make investments of $100,000 to $1 million.
The news comes a month after Gree Ventures held an initial close on its second fund, AT-I Investment, of JPY5 billion ($50 million). The fund is targeting areas such as consumer internet, mobile services, marketing technology and cloud services.
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