Japan’s GMO Venture Partners launches USD12M fund for Southeast Asia; makes first investment in region

GMO Venture Partners, the VC subsidiary of Japan’s GMO Internet Group, has launched a one billion yen (USD12M) venture fund to invest in opportunities in Southeast Asia, reported TechinAsia.

The newest fund, GMO VP III, focuses on advertising, ecommerce, payment processing, and smartphone services in Southeast Asia. It has already made its first investment, an undisclosed amount in Coda Payments, a Singapore-headquartered startup that deals with micropayments in the region.

GMO is exploring the region because it sees similarities between the current market state and Japan in the early 2000s. It will continue to invest concurrently in Japan and China.

There’s been a wave of Japanese money entering the region as investors see growth opportunities beyond the moribund Japanese economy.

GREE Ventures, for example, has invested in a Series B round in PriceArea, an Indonesian price comparison site. DeNA too has some activity in Southeast Asia, particularly Vietnam, while CyberAgent Ventures has been investing in Vietnamese and Indonesian startups.