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GREE sets up venture fund to invest in SE Asian internet start ups

Getting in on the ground floor

GREE sets up venture fund to invest in SE Asian internet start ups
There are plenty of development funds at the moment.

Japanese social mobile gaming platform GREE has been involved in some already, but hidden away in its most recent financial statement is the news that the cash-rich outfit is going one better and setting up its own investment outfit.

Early bird

Labelled GREE Ventures, it will be formed in November 2011 in the form of the GV-1 Investment Partnership, which will have an initial capitalisation of ¥2 billion (around $25 million).

The plan is that it will give the company access to southeast Asian start-ups that are in the internet sector - and we'd presume gaming too - as it provides them with early round funding.

[source: GREE PDF p17]
Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.