The fund will see Fenox acting as General Partner and specifically target companies with the potential for strategic synergy with Sega to support its innovation and growth.
The collaboration is a continuation of a partnership between Sega Sammy and Fenox which began three years ago when the VC firm became General Partner of a new private fund designed to fulfill the corporate venture capital function for Sega Sammy. Over the years, Fenox has invested in several companies in the United States, Japan and elsewhere on behalf of Sega Sammy.
Some prominent investments from the Sega-Fenox partnership include emotion recognition AI startup Affectiva, personal assistant AI platform X.ai, and quantum computer software provider QC Ware.
In addition, Fenox and Sega Sammy are collaborating on a new co-working space in Tokyo, established at the new office of Sumitomo Real Estate in Osaki Garden Tower, which has been the headquarters of Sega Sammy Group and Fenox Japan since September 2018.
“We are honored by the confidence Sega Sammy has shown in Fenox by expanding this fund. We will continue to uncover major technology trends and fund advanced technology companies that can contribute to Sega Sammy’s growth,” said Fenox Venture Capital CEO Anis Uzzaman.
Fenox model is to pursue strategic value through partnerships with startups, and financial return for its corporate Limited Partners, while providing growth capital and business development opportunities for its portfolio companies.
The company, which claims to manage over 20 existing parallel funds, earlier this year partnered with Japan-headquartered automotive parts manufacturer AISIN Group to launch a $50-million venture capital fund focused on automotive technology startups.
Last year, it teamed up with Taiwan-based AsusTek Computer Inc (ASUS) launching a $50 million venture fund that will concentrate on technology startups operating in the areas of artificial intelligence (AI), Internet of things (IoT), Big Data, cloud, AR/VR and other related technologies.
The post Fenox partners Japanese entertainment firm Sega Sammy to launch $20m fund appeared first on DealStreetAsia.
کد مطلب: 8822
تاریخ و زمان انتشار: 15 آبان 1397, 13:07
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