The injection will double the size of its funds to US$200 million
Singapore-based VC firm Rakuten Ventures has announced the injection of US$100 million into its Global Investment Fund, doubling it to US$200 million. The announcement comes on the back of launch of its new US$84 million Japan Fund last year.
With the new influx of funds, the VC arm of Rakuten Group will have a total US$284 million to fund tech startups across all verticals.
Last year, Rakuten Ventures participated in several funding rounds, including a US$8.5 million Series A round in the advertising technology startup AdsNative.
In January this year, it led a US$6 million Series A round in Seoul-based file sharing service Send Anywhere.
“Rakuten Ventures has been given the opportunity to work with some amazing founders who have created great products and businesses,” said Managing Partner SaeMin Ahn in an official press statement. “With the continued progress and growth of those very leaders, we are happy to be able to dream a little bigger and push even further by partnering up with more core technology and service providers.We will work continuously to support invested companies and organizations in taking the next step to meaningful gains and execution.””
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