Japan’s Beenos Group has launched $60 Mn fund to invest in early stage startups. The fund will be invested in technology startups focusing on internet and mobile across India, Southeast Asia, Japan and the US.
Launched by founder and former CEO of Beenos, Teruhide Sato, BEENEXT will be based in Singapore and has already figured out around six startups for investment.
The fund aims to back hand-picked entrepreneurs with capital, operational expertise and access to a global network.
BEENEXT will invest somewhere between $100K to single digit million dollars in early stage startups.
Beenos, a global conglomerate that consists of a business incubator, is more ecommerce and online payments focused in its investments. As a seed accelerator, it has invested in over 50 companies in Japan and over 85 investments globally including investment in Indian startups like ShopClues, Citrus Pay, KartRocket, BuyHatke and Droom.
Beenos has committed to invest over $5 Mn into BEENEXT, alongside a bunch of individual investors who have built companies in the US, Japan and Southeast Asia.
Teruhide Sato has also been investing in his personal capacity. One of his recent picks from India is Lookup. He said, “I will be looking at India (for investments) for the next 10-15 years.”
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