Japan-based CyberAgent Ventures is spreading its wings by earmarking a new $16m Chinese-focused mobile internet start-up fund.
CyberAgent Ventures, the corporate venturing unit of Japanese internet company CyberAgent, is branching out its Asia investment strategy once again with the news that it will raise a $16m (CNY100M) yuan-denominated fund this May to invest solely in Chinese companies. Joey Dai, the head of CyberAgent’s Beijing office confirmed the news to the Wall Street Journal.
The maiden vehicle will be invested in mobile internet companies, largely specialising in social networking and games for smartphones. The fund will commit between…
