Skyland Ventures’ second fund to provide $10m for robotics, VR, AI startups

Tokyo-based early stage investor Skyland Ventures this morning announced that it has raised a US$10 million fund, the firm’s second since launching in 2012. Founder and managing partner Max Kinoshita tells Tech in Asia that the fund will be used for seed and pre-seed investments in approximately 30 startups focusing on personal robotics, virtual reality (VR), artificial intelligence (AI), and video communications.

“We’re looking for young geniuses,” Max (pictured above, front and center) says. “It’s easy to raise money at the seed stage now, but there’s almost no one willing to invest at the pre-seed level.”

Skyland Ventures’ second fund will allocate approximately US$150,000 for initial investments, and between US$50,000 and US$500,000 for follow-ons.

The firm is looking specifically at domestic startups and US-based startups with Japanese founders, ideally under 30 years of age. It finds them through university outreach programs, bi-annual events featuring young entrepreneurs, and weekly open-house pitch events at its co-working space – Hive Shibuya – which is run in collaboration with East Ventures.

See: Hive Shibuya courts foreign startups with Tokyo co-working space

East Ventures, another early-stage venture capital firm focusing on Japan and Southeast Asia, is also among the new fund’s limited partners (LPs). Others include mobile gaming giant DeNA, mobile app and online advertising firm United, PR agency Vector, Septeni Holdings, and Adways.

Skyland Ventures has already invested in more than 20 startups from its US$4 million debut fund. Some noteworthy portfolio startups include Hachimenroppi, an ecommerce site for fresh fish; Travelbook, an online travel agency; Nanameue, a mobile app developer focusing on social video; and Translimit, publisher of breakout mobile games BrainWars and BrainDots.

See: It only took Brain Dots one month to become an international hit game

Skyland Ventures aims to have a total of 50 startups in its portfolio within two years. Down the road, that number may include non-Japanese startups as well.

“I hope to invest all over the world, but I want to help Japanese entrepreneurs go global first,” Max says. “In the near future, however, I’ll start investing in India and elsewhere.”