Genesia Ventures, a Japanese venture capital firm, announced on Wednesday that the third fund’s final close brought in $110 million.
In a statement, Genesia Ventures mentioned a number of companies that had invested in the fund, including Canal Ventures, Cygames, DBJ Capital, FFG Venture Business Partners, GREE Ventures, JA Mitsui Leasing, Japan Investment Corporation, Mizuho Capital, Mizuho Bank, Oriental Land Innovations, Sumitomo Mitsui Trust Bank, and Withus.
Genesia Ventures Chief Executive Officer and General Partner Soichi Tajima claim that the company has backed over 140 startups, mostly in Japan and Southeast Asia, that address issues such as the circular economy, prosperous lifestyle, equal access to knowledge and opportunities, knowledge, coexistence and symbiosis, and a healthy society.
He also said the firm has set forth its mission to “build a platform that creates sustainable industries in Asia,” which is an initiative aimed at building a platform that enables the creation of sustainable, large-scale industries in cooperation with stakeholders that form our society throughout Asia.
“These are efforts to provide the knowledge and networks necessary to maximize the probability of success and the corporate value of startups that take on challenges of creating large-scale industries,” he said.
The Southeast Asian startup market, which serves as the main arena of competition for the overseas investment team, has expanded to a size that far outpaces the Japanese market in terms of both the total amount and number of fundraising, according to Takahiro Suzuki, Genesia Ventures Head of Investments in Southeast Asia / General Partner.
He claims that in recent years, talented businesspeople from the region have joined forces with businesspeople from other markets, such as India, Europe, and America, to build solutions for the Southeast Asian market.
Additionally, he claimed that venture capitalists are expanding their operations into Southeast Asia from North America, India, South Korea, Greater China, Europe, and other nations and regions.
“I believe that the startup ecosystems in Asia, especially between Southeast Asia and India are becoming more seamless,” he said.
Independent venture capital firm Genesia Ventures helps pre-seed and seed-stage startups with funding and management assistance.
With three offices in Japan (Tokyo), Indonesia (Jakarta), and Vietnam (Ho Chi Minh City), it aims to create a platform for the development of substantial sustainable industries throughout Asia, working with stakeholders such as startups, businesses, investors, governments, and non-profits.
By the end of 2023, the company also intends to open an office there. In addition, it will invest in startups with operations in Japan, Southeast Asia, and India.
With a total of $35 million raised, the first fund finished its final close in December 2017.
