SoftBank Group said on Friday its Seoul-based venture capital unit focusing on early-stage investments has raised a 317 billion won ($270 million) fund.
SoftBank Ventures Asia’s new fund will invest in early-stage startups globally with a focus on Asia.
The new fund, which aims to close in the next six months with investors including South Korea’s National Pension Service, reflects a renewed appetite by SoftBank for early-stage investing.
While SoftBank’s Saudi-backed, $100 billion Vision Fund bestrides the investing scene for late-stage startups, the group’s Chief Operating Officer Marcelo Claure in March launched a $5 billion, Latin American-focused fund.
Previous investments by SoftBank Ventures Asia, which was established in 2000 before its remit was expanded earlier this year, include South Korean gaming company Nexon, and Indonesian e-commerce firm Tokopedia.
