GREE Ventures closes $50M fund to target Asian startups

GREE Ventures closes $50M fund to target Asian startups

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GREE Ventures has just announced the initial closing of its second fund. Dubbed the AT-I Investment Limited Partnership, this is a 5 billion yen fund (or about $50 million) which it will use to target tech startups in Japan and South East Asia, mostly series A stage companies at about 100 million yen to 300 million yen per company ($1 million to $3 million).

Investors in the fund include GREE Inc, SME Support Japan, Credit Saison, Ateam Inc, and Mizuho Capital. The announcement notes that a second closing will likely come later this summer.

GREE Ventures (PDF)