Genesia Ventures, a Tokyo-based venture capital firm, has announced the first closing of its third fund, which is valued at over $90 million.
Canal Ventures, GREE, Japan Investment Corporation, Mizuho Bank, Mizuho Capital, and Oriental Land Innovations are among the investors.
Fund 3 is targeted at pre-seed and seed-stage firms in Japan and Southeast Asia, similar to the first and second funds. The maximum investment amount per firm will be US $4 million, including follow-on investments.
The ultimate close of Genesia Venture Fund 3 Investment Limited Partnership, with a target corpus of US $130 million, is set for August 2022.
Soichi Tajima, the CEO and General Partner of Genesia Ventures started the firm in August 2016. It has invested in over 100 pre-seed and seed-stage companies in Japan and Southeast Asia to far.
The initial fund, which raised $35 million in total, had its ultimate closure in December 2017. It made 47 pre-seed and seed-stage investments (35 in Japan, 10 in Southeast Asia, and two in other markets as of January 31, 2022).
Fund II, which had a corpus of $70 million and invested in 59 firms, reached its final close in October 2020. (41 in Japan, 16 in SEA, and two in other markets as of January 31, 2022).
