Japanese firm Mixi launches $50 mn India-first fund to empower startups

With his fund, the company aims at empowering early-stage entertainment startups in the country.The newly-launched CVC will serve as an investment vehicle for MIXI to identify and help promising startups in the country.The focus of the CVC will be on startups in the entertainment sector and consumer services, it said in a statement."We believe in India’s startup ecosystem especially in the sector of digital entertainment. We are committed to contribute to startups’ growth with our industry knowledge and assets, and positively impacting the startup ecosystem in India, said Tomoharu Urabe, Principal Partner, Mixi Global Investments, Inc.From FY2019-FY2022, the company made investments totalling around 70 billion yen.“We plan to use 30 to 50 billion yen on M&A and capital and business alliances in the three years from FY2023 to FY2025, said Mixi.“We’re focusing investments on overseas markets, including emerging markets, and are aiming to create global businesses and strengthen global synergies, it added.The company said it will continue promoting overseas investment while aiming for global business growth and the creation of global synergies.--IANS
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