GREE Ventures, a Tokyo-based venture capital firm, has announced the first close of its new AT-II Investment Limited Partnership Fund (“AT-II”), launched in April this year. The fund has a committed capital of $37 Mn from investors including leading Japanese companies and financial institutions. It is expected to have its second closing with $60 Mn funds at the end of December this year.
Geographically, AT-II is starting to seek investment opportunities in India in addition to Japan and Southeast Asia. It will invest between $300,000 to $2 Mn in early and seed stage startups working in internet sector as a lead investor.
The selected startups will also be provided with management advice, help in developing action plans, support in hiring personnel and more.
Members of the fund include Yusuke Amano (CEO and Partner), Tatsuo Tsutsumi (Partner), Albert Shyy (Principal), and Nikhil Kapur (associate).
Earlier, in May 2014, it launched AT-I Investment Limited Partnership, a $50 Mn fund, that invests in internet-related companies across Southeast and East Asia. It also created a $12 Mn virtual reality investment fund in April this year.
Established in November 2011, Gree Ventures is a subsidiary of Gree, a Japanese gaming and social networking company. Unlike traditional corporate VCs, Gree Ventures doesn’t invest in areas aligned with its parent company.