On Wednesday, Tokyo-based independent venture capital Infinity Venture Partners (IVP) LLP announced that Japan’s second largest telecommunication company KDDI has committed to invest on IVP Fund B, L.P. The fund has fundraised from Japanese tech ventures, and is investing in mobile start-up companies in Japan and Mainland China. (Refer to these Asiajin article [1][2] for more details about IVP Fund.) It’s worth about USD14.6M as of Oct. 16th, and KDDI will have the second largest share of the fund in the amount of investment when the company redeem the commitment. KDDI’s amount of the investment is not disclosed.
KDDI invested in the country’s second largest social network service GREE[J] in 2006, and intends to be more aggressive to invest in potential application developers and service providers in the world’s mobile industry.
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Masaru IKEDA
It is a good news and great achivement for the IVP that Japan’s second largest telecommunication company KDDI has committed to invest on IVP fund B. They like to invest in mobile companies of Japan.
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I think it is a good announcement that Japan’s second largest telecommunication company KDDI has committed to invest on IVP Fund B.
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