Japanese mobile entertainment company MIXI Global Investments Inc., has floated its first India-focused corporate venture capital fund worth $50 million to invest in early-stage entertainment and consumer services startups in the country, per an announcement.
The newly-launched fund will serve as an investment vehicle for MIXI to identify and help promising startups in India, MIXI Global said in a press statement.
The plan includes investing in the rapidly growing Indian market and leveraging its assets and expertise in B2C services in the digital entertainment area to create synergies with portfolio companies, the statement added.
“We believe in India’s startup ecosystem, especially in the sector of digital entertainment. MIXI is a business operator in social networks and mobile entertainment apps and aims to contribute to startups’ growth with our industry knowledge and assets, positively impacting the startup ecosystem in India,” said Tomoharu Urabe, Principal Partner, MIXI Global Investments Inc.
The company stated that it will continue promoting overseas investment while aiming for global business growth and the creation of global synergies.
From FY19 to FY22, the company claims to have made investments totalling around 70 billion yen. Going forward, it is looking to spend anywhere between $200-350 million in mergers and acquisitions as well as in business partnerships between FY23 and FY25.