Starting today, CyberAgent Ventures (CAV) is providing a new opportunity for fresh startups – the Seed Generator. According to The Bridge, CAV allocated JPY 300 million (US$2.5 million) from the US$50 million investment fund it announced this June.
Companies seeking seed funding are eligible to apply for that fund but the Seed Generator formalizes the process. Japanese startups from basically any industry background will have a shot at receiving some cash as long as they have operated for less than a year, have at least one engineer on staff, and are not asking for the initial capital to establish a company. The Bridge, which is also an official supporter of the program, confirms that the funding will cap out at around US$100,000.
The creation of the Seed Generator adds to Tokyo’s seed investment community. Because Japanese startups tend to build towards an IPO within three or four years, there are fewer opportunities for investments from mid-stage and beyond. Keeping a dedicated team in the seed community allows CyberAgent Ventures to keep a closer track of new and exciting entrepreneurs.
Aside from offers of cash, CAV is drawing on its past successes to make the program appealing. CEOs from previous investments turned good like Crowdworks, Tokopedia, and Retty will all be on hand as mentors.
Interested parties can apply online and then have a private meeting or participate in the more open Breakfast for Founders events.
See: Techfund wants to be the YCombinator of Japan. But it invests using technology, not money
This post CyberAgent Ventures earmarks $2.5M for new seed fund appeared first on Tech in Asia.
CyberAgent Ventures earmarks $2.5M for new seed fund
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