Genesia Ventures CEO Soichi Tajima (L) and Southeast Asia Head Takahiro Suzuki
Tokyo-headquartered VC firm Genesia Ventures has announced the first close of its third fund at approximately US$90 million.
Investors include Canal Ventures, GREE, Japan Investment Corporation, Mizuho Bank, Mizuho Capital, and Oriental Land Innovations.
Similar to the first and second funds, Fund 3 is focused on investments in pre-seed and seed-stage startups in Japan and Southeast Asia. The investment size will increase to a maximum of US$4 million per company, including follow-on investments.
The final close of Genesia Venture Fund 3 Investment Limited Partnership is scheduled for August 2022 at a target corpus of US$130 million.
Fund 3 will continue to invest with a similar mandate as the first and second funds and invest primarily in the following areas:
- Digital transformation: business models around digital transformation, such as SaaS that improves business structures of various industries and platforms that eliminate complex layers,
- New economy: Business models such as OMO, C2C (e-commerce, service), sharing economy, decentralised platforms, etc., that optimise individual empowerment and customer experiences,
- Media and entertainment, such as content, VR, and AR that provide value in the form of moving experiences,
- Frontier tech: New industries, including robotics, digital twinning, and space technologies, and areas relating to digital innovation through the application of information sciences.
Genesia Ventures was founded in August 2016 by CEO and General Partner Soichi Tajima. To date, it has invested in more than 100 pre-seed and seed-stage startups in Japan and Southeast Asia.
The first fund completed its final close in December 2017 with a total of US$35 million. It invested in 47 pre-seed and seed-stage startups (35 in Japan, 10 in Southeast Asia, and two in other markets as of January 31, 2022).
Fund II completed its final closing in October 2020 with a corpus of US$70 million and invested in 59 companies (41 in Japan, 16 in SEA, and two in other markets as of January 31, 2022).
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The post Genesia Ventures hits US$90M first close of Fund III, targets US$130M final close in August appeared first on e27.