KDDI and Global Brain form $50M second fund, strengthening investments in US startups



Japanese telco KDDI and investment firm Global Brain announced earlier this week that they have jointly formed KDDI Open Innovation Fund II, valued at 5 billion yen ($49.4 million). This follows their previous investment initiative KDDI Open Innovation Fund I which was valued at the same amount and formed back in February 2012.

Our readers may recall the telecom company announced that it had partnered with 13 top Japanese companies in their incubation program to strengthen their support in nourishing tech startups and entrepreneurs. We understand that they will use the new fund to invest in prominent startups born out of the program.

In addition, the both companies also announced that they have invested 800 million yen ($7.9 million) in four tech companies in the US: Edmondo (social network platform for the educational industry), Issuu (digital publishing and sharing service), Pogoseat (seat upgrade service for live events), and VentureBeat (tech news media). Global Brain recently set up an office in San Francisco and is now closely working with US-based incubators to strengthen their efforts in exploring high-profile startups that they can invest in.