Japan’s Shinsei Bank has established a corporate venturing fund for internet companies called Femto Growth Capital Investment Fund.

The limited partners in the fund include Organization for Small & Medium Enterprises and Regional Innovation, Japan; Shinsei Bank; Création Capital; and Interlink.

The management of Japan-based bank Shinsei’s Y1.6bn ($10.6m) fund will be managed jointly with internet investment advisory firm Tetsuya Isozaki & Associates.

The fund will look to invest up to Y300m in internet platform businesses and financial services. One of its first deals includes a $2m investment inPiece of Cake, a Japan-based digital content provider, alongside games developer CyberAgent’s Ventures unit.

In July last year, Shinsei set up a venture investment fund targeting early-stage mobile entertainment companies primarily in Asia with media group Gumi, followed by Shinsei Corporate Investment in November 2012.

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