Japan’s Infinity Venture Partners raises $20M from Taiwan government for its third fund



See the original story in Japanese.

Infinity Venture Partners (aka IVP), an investment fund focused on early-stage startups in Japan, China and Taiwan as well as elsewhere, announced today that it has secured an additional $25 million in funding for Infinity e.ventures Asia III, L.P. (“IVP third fund” for short), meaning that the funding raised has reached $75 million in total to date. Starting with $32 million back in November of 2014, the fund has now more than doubled from the original size; the aim now is to fundraise $100 million in total by the second half of 2016. Coinciding with this announcement, the firm unveiled that the total valuation of all three of its funds including the third fund is now valued at three times the initial funding amount.

Limited partners, or simply investors, for the third fund include Recruit Holdings, Daiwa Securities, Sammy Networks, Orso, Mixi and United, in addition to other individual business owners of internet and mobile services in Japan and the rest of the world. Of the $25 million additional funding raised at this time, IVP told The Bridge that it has fundraised $20 million from Taiwan’s state-run National Development Fund, Executive Yuan (NDF).

Aiming to help Taiwanese startups grow internationally, NDF has invested in incubation and investment initiatives including 500 Startups, Taiwanese accelerator AppWorks, 360ip, Industry Technology Investment Corporation, among others.

IVP has been proactively supporting global expansion efforts of Taiwanese endeavors such as Pinkoi and KKBox, both of which are outstanding in terms of successful market entry into the Japanese market. The firm has an incubation space called TechTemple in three locations in China – Beixinqiao (Beijing), Sanlitun (Beijing) and Shenzhen – which may have encouraged the Taiwanese government to consider it as being relevant to helping Taiwanese startups expand into the Chinese market that many of them are likely to target.

See also:

Edited by “Tex” Pomeroy