TOKYO -- Yahoo Japan looks to invest more venture capital into Southeast Asia, launching a fund in the second half of the year with a major Indonesian conglomerate.
Yahoo Japan's venture capital unit will team with Indonesia's Sinar Mas Group and East Ventures, a Tokyo-based firm targeting early stage startups. The investment war chest totaling 15 billion to 20 billion yen ($141 million to $188 million) will go toward Southeast Asian startups in information technology and related fields, providing at least several hundred million yen per investment.
Aside from generating profits, the fund will focus on discovering startups whose businesses complement Yahoo Japan's operations.
Yahoo Japan, a subsidiary of SoftBank Group, has been investing in startups domestically and in other Asian countries through venture capital firms. It aims to build connections with up-and-coming players in the rapidly growing Southeast Asian startup scene through the new joint venture fund.