Japan's MIXI Launches India First $50 Million Fund According to the company, the newly launched CVC will serve as an investment vehicle for MIXI to identify and help promising startups in India
By Teena Jose
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Japanese mobile entertainment company, MIXI has announced the launch of its India-first $50 million Corporate Venture Capital (CVC). The brand aims at empowering early-stage entertainment startups in the country.
According to the company, the newly launched CVC will serve as an investment vehicle for MIXI to identify and help promising startups in India. It also added the focus of the CVC will be on startups in the entertainment sector and consumer services.
"We believe in India's startup ecosystem especially in the sector of digital entertainment. MIXI is a business operator in social network and mobile entertainment apps. We are committed to contribute to startups' growth with our industry knowledge and assets, and positively impact the startup ecosystem in India," said Tomoharu Urabe, principal partner, MIXI Global Investments, Inc.
From FY19 to FY22, the company claims to have made investments totaling around 70 billion yen with the aim of developing new pillars of business and creating synergies with their existing businesses.
"We plan to use 30-50 billion yen on M&A, capital, and business alliances in the three years from FY23 to FY25. We're focusing investments on overseas markets, including emerging markets, and are aiming to create global businesses and strengthen global synergies," noted the company.
Moreover, the company said it will continue promoting overseas investment while aiming for global business growth and the creation of global synergies.
