Venture firm Genesia Ventures has secured Tokyu Fudosan, Marui Group, Mixi, JA Mitsui Leasing and Mizuho Financial Group for a fund with an $80m target.

Japan-based venture capital firm Genesia Ventures has collected $45m for the first close of its second fund, having secured limited partner (LP) commitments from several corporates, DealStreetAsia has reported.

The vehicles LPs include Mizuho Bank and Mizuho Capital, subsidiaries of financial services firm Mizuho Financial Group, as well as machine leasing service JA Mitsui Leasing, payment services firm Marui Group, internet company Mixi and real estate developer Tokyu Fudosan’s TFHD Open Innovation Program.

The fund is more than halfway to its $80m target and is looking to reach a final close by the end of September this year, according to Genesia’s website.

Genesia will initially focus on investments in seed and pre-series A stage companies, supplying up to $5m for each startup, Genesia Ventures principal Yuto Kono told DealStreetAsia.

The firm will seek out new economy and digital media businesses, and technologies such as artificial intelligence, robotics and drones, as well as digital innovations that are redefining traditional industries such as telecommunications, publishing and real estate.

Portfolio companies will be based in Indonesia, Vietnam and Singapore, but Genesia plans to expand to other countries in Southeast Asia at a later date.

Genesia’s portfolio includes LuxStay, the operator of an online marketplace for shared accommodation, as well as online real estate portal Homedy and Sukedachi, the Japan-based operator of an online recruitment marketplace for construction workers.

Image courtesy of Genesia Ventures