Tokyo-based venture capital firm Genesia Ventures announced the final closing of its second fund worth USD 75 million on Monday, which will target Japanese and Southeast Asian startups in the fields of digital transformation and media, among others.
The fund, launched in January last year, had already raised USD 45 million at the time, with a target to reach USD 80 million by the end of September. However, Genesia Ventures was only able to raise USD 75 million, falling just short of its target.
The fund will be used to target early-stage startups in Japan and Southeast Asia. Its most recent investment was in BuyMed in April, a Vietnamese healthcare startup that received USD 2.5 million in a pre-Series A funding from Genesia and Sequoia Capital India’s seed-stage fund Surge.
Genesia Ventures, founded in 2016, has already invested in 47 seed and early-stage startups in Japan and Southeast Asia from its first fund totaling USD 35 million which was completed in December 2017, according to the statement.