Japan’s Genesia Ventures receives $45 mln in first close of its 2nd fund

Japanese investment firm Genesia Ventures has received about $45 million in the first close of its second fund.

The final close of the new fund, expected by the end of September this year, will raise $80 to $100 million and invest in Japan and Southeast Asia-based startups.

The new fund aims to invest up to $5 million in startups especially seed and pre-series A stages for its initial and follow-on investments in Indonesia, Vietnam and Singapore for investments, and expand to Thailand, Malaysia, Philippines and India at a later juncture.

Further, the fund will make investments in digital transformation, new economy or digital media content and frontier technologies such as artificial intelligence, robots, drones and low-earth-orbit satellites.