The Japan-based app developer will target areas including e-commerce and online-to-offline technologies through the Rakuten-backed fund.
Venture United, an investment subsidiary of Japan-based app developer United, has closed a fund at ¥1.2bn ($11m), The Bridge has reported.
Investors in the fund include Japanese state-run business investor SME Support, Rakuten-owned telecommunications company Fusion Communications, online security company SBI Securities, and advertising agencies Hakuhodo and Digital Advertising Consortium.
Venture United has already invested in a number of Japan-based startups, including internet life insurance company Lifenet Insurance, social merchandising platform Enigmo and entertainment services company Unoh. Gaming company Zynga…
