Japan’s startup-focused investment firm CyberAgent Ventures announced today that it has formed a new fund worth 5 billion yen (about $50 million) called CA Startup Internet Fund No.2. This is because of closing their previous fund CA Startup Internet Fund No.1.
Comparing to the previous one worth about $24 million, the new fund is almost double in size and is planned for investment of an amount ranging from $100,000 to $1 million in every single startup they choose. The company’s vice president Tomoki Shirakawa explained how they plan to proceed from here:
We’ll keep looking to companies in the internet business space but planning to expand our coverage beyond it. I don’t mean we will lower a threshold. We’ll be on the lookout for interesting startups and try to discuss with more entrepreneurs.
Increasing opportunities to meet up with aspiring and active entrepreneurs is one of their focus. As part of such an effort, they will hold a meetup event called Startup Workout on July 2nd, where Takaya Shinozuka, CEO of Japan’s members-only hotel booking site operator Loco Partners, will share his success and failure experiences with an audience.
Shirakawa says his team is always looking forward to hearing from entrepreneurs and aspiring entrepreneurs. So if you have any good idea in your mind, I’d recommend you not to hesitate to drop him a line.