Rakuten Ventures has raised about $84 million for its new fund that targets Japanese startups. Managing Partner SaeMin Ahn and investment manager Hogil Doh will run the Singapore-based fund.
Tokyo, January 27, 2016 – Rakuten Ventures today announced the launch of the Rakuten Ventures Japan Fund, a 10 billion yen (approx. US$84 million) venture capital fund targeting investments in startups in Japan.
Building on successes in Israel, Asia Pacific and the USA with Rakuten Ventures 2013 Southeast Asia Fund and 2014 Global Fund, the new Rakuten Ventures Japan Fund aims to empower the expanding community of Japanese startups with advanced technology and business models.
The fund operations will be run out of Singapore by Managing Partner SaeMin Ahn and Investment Manager Hogil Doh.
“We are honored to have a chance to participate in the Japanese startup community,” said SaeMin Ahn. “With the launch of Rakuten Venture Japan Fund, we hope not only to find the right fit in domestic startups but also bridge Western and South East Asian market opportunities with brilliant founders from Japan.”
The new fund is aimed at early and growth stage internet startups in Japan, with a strong focus on unique technologies and business models, as well as high growth potential. Rakuten Ventures will also seek to support business growth by driving synergies with the technologies and platforms of the Rakuten Group.
Going forward, Rakuten Ventures aims to empower entrepreneurs and the Internet industry, and further expand the size and scope of its investments both in Japan and around the world.
About Rakuten Ventures
Rakuten Ventures is an early stage corporate venture capital fund focused on empowering the startup ecosystem to positively affect Internet services globally. The fund was originally launched in 2013 and counts Carousell, Visenze, Coda Payments and Send Anywhere among its investment portfolio. In June 2014, Rakuten Ventures launched a US$100 million global fund to target startups and companies in Israel, Asia Pacific, and the USA, with a focus on companies that can enable better user experience and facilitation, and currently includes PocketMath, Algorithmia, AdsNative, Epic! And OneSignal in its portfolio.