The internet and e-commerce company's Rakuten FinTech Fund will target European and US startups which can bring strategic benefits to its subsidiaries in the sector.

Japan-based internet and e-commerce firm Rakuten launched a $100m strategic corporate venturing fund today that will target investments in early to mid-stage financial technology companies.

Rakuten FinTech Fund will look to invest in startups and growth-stage companies in the US and Europe with strategic relevance. Oskar Mielczarek de la Miel will run the fund as managing partner.

The strategic element of the unit will fuel development of Rakuten subsidiaries such as Rakuten Card, Rakuten Securities, Rakuten Bank and Rakuten Life…

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