GREE Ventures (“GV”), a Tokyo-based venture capital firm, announced the first close of its new AT-II Investment Limited Partnership Fund (“AT-II”) with approximately $37 million in committed capital from investors including leading Japanese companies and financial institutions. GV continues to solicit investments and expects its second closing with approximately $60 million in total commitments at the end of December this year.
As with AT-I (GV’s previous fund), AT-II continues to invest in startups at early and seed stage in the internet sector as a lead investor. Geographically, AT-II is starting to seek investment opportunities in India in addition to Japan and Southeast Asia. The investment size will be between $300,000 to $2 million per company.
GV has made over 30 investments in startups across Japan and Southeast Asia since its inception and has established its status as a leading investor for early-stage startups in Asia. As GV is not a Corporate Venture Capital fund, it does not make investments in sectors that have synergies with the business of GREE Inc, namely gaming and content. GV instead invests in the broader internet and mobile sector, in companies with the potential to scale across the region. It plans to continue realizing strong performance in its portfolio by providing hands-on support and leveraging its resources and network to help companies solve market problems and grow quickly to achieve their potential.
The portfolio companies will also be provided with management advice, help in developing action plans, support in hiring personnel and more. Members of the fund include Yusuke Amano (CEO and Partner), Tatsuo Tsutsumi (Partner) and Albert Shyy (Principal).
GREE Ventures was established in November 2011, it is a subsidiary of Gree Inc., a Japanese gaming and social networking company.
Apart from this, Bangalore-based venture capital fund IDG Ventures India has also closed $150 million India fund today. The VC firm expects to raise the entire money for its $200 million third fund called IDG Ventures India Fund III by the end of this year. IDG’s third India Fund is comparatively larger than its two other funds raised earlier, which had a corpus of $100 million each.
