Tokyo-based web integrator IMJ teams up with Fenox Capital, plans to invest in SE Asia


imjfenox_logoTokyo-based web/mobile solutions company IMJ (JASDAQ:4305) has announced a partnership with Fenox Capital, a Silicon Valley-based VC firm. The companies have established a fund worth about $4 million dedicated to investing in startups in the South East Asia region. In terms of the fund’s capital allocation, IMJ takes a 74.37% stake and Fenox makes up the rest.

Fenox Capital was co-founded in the late 1990s by American businessman Anis Uzzaman, who has spent many years in Japan and has many connections in the local business community. IMJ is known for having integrated notable Japanese e-commerce sites such as Tsutaya Online or Sony Store. IMJ Investment Partners, the existing investment arm of IMJ, will be completely absorbed by the new company.

According the announcement, the new VC company will set up local offices in Singapore, Jakarta, and Tokyo, and expects to explore seed investment opportunities in seed- and growth-stage startups in the region.