Taiwan’s financial giant CDIB Capital Group and Japan’s state-backed Cool Japan Fund have jointly established a cross-border fund. The fund is called the CDIB Cross Border Innovation Fund (CCBI) and is expected to range in size from $75-100 million US. The fund has secured $62 million US by its first close.
CCBI aims to build a startup ecosystem between Japan and Taiwan, and is the group’s first co-investment with a Japanese partner. The National Development Fund of Taiwan and major Taiwanese companies such as Himax and SYSTEX (TSE: 6214) are also participating in the investment. The fund will focus on mobile commerce, digital transformation (DX), AI/blockchain, and lifestyle industries in Japan.
Since the launch of its Tokyo Innovation Hub in 2022, CCIA (CDIB Capital Innovation Accelerator) has hosted Demo Day events and meetups on an irregular basis to help Taiwanese startups connect with Japanese companies. CDIB Capital Group has over NTD 75 billion ($2.3 billion US) in AUM (assets under management) and has invested in over 200 companies.
via PR Times
