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GREE Ventures Closes Second Fund AT-II At $67 Mn

GREE Ventures Closes Second Fund AT-II At $67 Mn

Tokyo-based venture capital firm, GREE Ventures has announced the final close of its new fund AT-II Investment Limited Partnership Fund. The fund has a committed capital of $67 Mn, as per an official statement.

Main investors in the AT-II fund include the Organization for Small & Medium Enterprises and Regional Innovation, JAPAN; GREE Inc.; and members of the Mizuho Financial Group including Mizuho Bank, Mizuho Securities Principal Investment, and Mizuho Capital.

The VC firm had announced the first close of its new AT-II Investment Limited Partnership Fund (“AT-II”), launched in April 2016. Members of the fund include Yusuke Amano (CEO and Partner), Tatsuo Tsutsumi (Partner), Albert Shyy (Principal), and Nikhil Kapur (Associate).

In addition to Japan and Southeast Asia that were the primary target regions of the first fund AT-I, the second fund also targets investments in India. AT-II will provide funding to venture companies in the broadly defined Internet sector. It is planning to act as a lead investor, providing financing of US $0.5 Mn to US $3 million for Seed- to Series A-stage startups.

Established in November 2011, GREE Ventures is a subsidiary of GREE, a Japanese gaming and social networking company. According to a company statement, the VC firm has assets under management of roughly US $120 Mn.

The fund has already invested in 10 Asian startups. Earlier this year, Jakarta-based payments platform Ayopop secured $1 Mn in a Seed round. In April 2017, Delhi-based online media network for women, POPxo closed a $3.1 Mn round of funding led by existing investors Kalaari Capital and IDG Ventures India, Japan’s GREE Ventures, Summit Media (Philippines), Atul Goel, and Gurpreet Singh also participated in this round of funding.

Just yesterday, it was reported that Japanese conglomerate SoftBank Raised $93 Bn For Vision Fund. The fund aims to raise the corpus to $100 Bn by the end of this year. Last week, New Jersey-based VC firm, Honeywell Ventures launched $100 Mn investment fund for early stage tech startups.