KDDI (TYO: 9433) revealed a flurry of investment plans today. First, the telecommunications firm announced the KDDI Open Innovations Fund (operated by Global Brain) deposited US$8 million into four American startups. Education firm Edmodo, digital media publishing platform Issuu, seat upgrade app Pogoseat, and TechCrunch competitor VentureBeat all received funding but individual terms were not disclosed. KDDI noted that a key reason for investing in these companies is their collective potential for trying to enter the Japanese market.
It is unclear if that US$8 million was the last of the initial $50 million fund established in 2012, but, regardless, KDDI is reloading and launching a new innovation fund – again with a price tag of US$50 million. With KDDI’s latest move, it is starting to look like venture capital has become a new proxy battle for Japanese telecoms. Docomo has a US$109 million fund and Softbank is working on a US$250 million fund. ...continue reading ...
Tech In Asia 7/14/2014 [en]
- CVC has been more and more increasing recently in Japan. Telecom companies have been definitely leading the trend. Media, advertising, and manufacturing companies are following.