Incubate Fund Launches a USD 91M Fund For Seed Stage Startups in Japan and Asia


Japanese venture capital firm, Incubate Fund has launched a new USD 91 million fund named Incubate Fund III, which will carry out large-scale investments for seed stage startups in Japan and Asia. The investors in this fund include INCJ, Yahoo Japan Corporation, Sumitomo Mitsui Banking Corporation, Tencent Holdings, Sega Sammy, Mistletoe, Mixi, Tokyo Broadcasting Holdings, Development Bank of Japan and with participation from other private investors.

“Through this fund, we aim to create and develop Japan’s next generation of industry by working closely with our Limited Partners, who invested in our fund,” said Incubate Fund. In May 2010, the firm had secured its Incubate Fund I for USD 448 million and in March 2013, it has raised USD 336 for its Incubate Fund II.

In the last five years, the firm had invested in more than 120 companies including Gumi, Ceres, Realworld, Voyage Group, Minnano Wedding Co. Media Do, Pokelabo, Froute Corporation, Aiming, and Sansan among others.

Incubate Fund III has already made its first US investment in driving app Drivemode, while previously it’s portfolio companies were based out in Japan and Southeast Asia. The fund will focus on the various sectors including media, entertainment, gaming, online commerce, logistics, medical, financial, real estate, and housing.

Also, Japanese telecom and Internet corporation, Softbank went on an investment spree last year in India and other APAC nations. The country’s e-commerce firm, Rakuten, which had already made several major investments in Southeast Asia, launched a USD 100 million fund to focus on startups in US, Israel and APAC region.

Image Source: offshorewind

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