Japan’s Incubate Fund Launching India-Specific $27 Million Startup Fund

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Japanese venture capital fund, Incubate Fund is set to raise $27 million India dedicated fund by the end of the year for investing in promising Indian startups, Nikkei Asian Review reported on Tuesday.

Dubbed as Incubate Fund India, the fund will be launched this summer and the Tokyo-based venture capital specialist will invest 3 billion yen ($27 million) by the end of the year.

General partner of Incubate Fund, Nao Murakami, along with other experienced Japanese staff will be stationed in Silicon Valley of India, Bangalore, to scout for startups to invest in.

Incubate Fund, which invests in seed- to early-stage internet businesses, has raised a total of $137.2 million across three funds, their latest being Incubate Fund III, which was announced on January 2015 and raised a total of $91 million, according the data by Crunchbase.

Last month, Incubate Fund participated in pre Series A round of StayAbode, a start-up that is building co-living spaces.

In December, Indore-based Shopkirana, that connects brands and traditional retailers with the help of technology and supply chain innovation, has raised $2 million from investors that include Incubate Fund.

In October, GamingMonk, a Delhi-based e-Sports gaming startup raised ₹4 crore from Incubate Fund and former MD of Google, Rajan Anandan.

Incubate Fund has had 7 exits and one of the notable exits include GameWith, a Japnese gaming media firm, which has recently invested $100,000 in GamingMonk this month.

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