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The new AT-II fund will invest between US$300,000 to US$2 million per company

Tokyo-based venture capital firm GREE Ventures (GV) today announced the completion of the first close of its new AT-II Investment Limited Partnership Fund (“AT-II”), consisting of approximately US$37 million of committed capital from investors including leading Japanese companies and financial institutions.

According to an official statement, the firm expects its second closing with total commitment of approximately US$60 million at the end of December.

AT-II will continue on investing in early and seed stage startups as per it predecessor, AT-I. The investment size will vary between US$300,000 to US$2 million per company.

The firm also stated that in addition to Japan and Southeast Asia, it will also look for opportunities in India.

“As GV is not a Corporate Venture Capital fund, it does not make investments in sectors that have synergies with the business of GREE Inc, namely gaming and content. GV instead invests in the broader internet and mobile sector, in companies with the potential to scale across the region,” according to the statement.

Also Read: Startups should first figure out what makes them tick: GREE Ventures’ Albert Shyy

The firm also stated that it will continue to “realise strong performance in its portfolio by providing hands-on support and leveraging its resources and network to help companies solve market problems and grow quickly to achieve their potential.”

GV was established in November 2011, and is currently led by CEO Yusuke Amano.

Its portfolio companies include Bukalapak, Berrybenka, Ayannah, Ticketstreet, and Pie (which recently been acquired by Google).

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Image Credit: GREE Ventures

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