IMJ, a venture capital firm based in Japan, is looking homeward with a new fund especially for Japanese startups. Called the IMJ Investment Partners Japan Fund, it has already raised 2 billion yen (about $52 million), and will continue to seek new capital for a potential total of 6 billion yen.
Before launching its Japan Fund, IMJ focused primarily on investments in Southeast Asia. Its portfolio includes property marketplace UrbanIndo, digital payment startups Ayannah, and credit card comparison site iMoney.my.
In an announcement, the firm said it will focus on Series A investments in Japanese startups that want to transform “large existing industries” like finance and healthcare, as well as emerging technologies (including artificial intelligence, the Internet of Things, and blockchain).
IMJ joins other investment firms like Rakuten Ventures, which recently launched an $84 million fund for Japan after focusing on Southeast Asia, and Gree Ventures, which established a $50 million Japan/Southeast Asia fund in 2014.