The venture capital arm of GMO Internet Group company and Japan-based venture capital firm, GMO VenturePartners, has launched GMO VenturePartners Fund III.

GMO Venture Partners, which in January spun out from Japan-based GMO Internet Group, has launched a Y1bn ($12m) venture fund which will focus on opportunities in the south east Asia region.

The GMO VenturePartners Fund III’s first investment is Coda Payments, a start-up enabling micropayments in Southeast Asia using advanced carrier-billing technology.

Since 2005 GMO VP has operated a number of funds including the Y2.3bn Social Ad & Commerce Technology fund established in 2011.

GMO’s previous investments include China-based technology…