Japan's CyberAgent invests in Taiwanese start-up

According to Focus Taiwan, the deal was for a 15-20% stake and is CyberAgent's first investment in a Taiwanese company since it opened its Taipei office last year.

The investment was made through the CA-JAIC China Internet Fund II, which is jointly managed by CyberAgent Ventures and Japan Asia Investment (JAIC). The fund, which reached a final close in April 2011 at $19.8million, focuses on start-up and early-stage IT companies based in mainland China, Taiwan and Hong Kong.

Launched 11 months ago, the iCook site currently has 70,000 registered users and 10,000 user-generated food recipes.

In a statement published on its website, CyberAgent Ventures said it believed that iCook.tw has strong potential to become the leading recipe-themed social networking platform in Taiwan. The company will take advantage of CyberAgent's wide network of resources to enhance growth and value.

Cyber Agent Ventures, the venture capital arm of Tokyo-based internet firm CyberAgent, has offices in Japan, China, Taiwan, Vietnam, Indonesia and opened its newest office in Korea in July. 

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• Topics
• Greater China
• Venture
• Early-stage
• Technology
• GPs
• North Asia
• Japan
• Taiwan (China)
• CyberAgent Ventures
• Venture