Fenox VC partners Japanese trading firm Sojitz to launch $30m fund

Photo: Fenox VC

Silicon Valley-based VC firm Fenox Venture Capital has teamed up with Japanese trading company Sojitz Corporation to launch a $30-million venture fund, Fenox founding partner and CEO Anis Uzzaman said in a Facebook post.

The fund will see Fenox acting as General Partner and will invest in global startups.

In a statement, Sojitz said, the move was prompted by “rapid changes in the business environment in recent years”, which makes it increasingly important to equip itself and its partners with emerging technologies and services.

“By partnering with Fenox, Sojitz aims to provide funding to startups with innovative technologies and services in North America, Europe, Israel, Japan, and Southeast Asia, while simultaneously pursuing opportunities to develop new business that will contribute to further growth for both these start-ups and Sojitz,” the Tokyo-based firm said.

The fund, managed by Fenox, will invest primarily in early-stage companies that helps to create businesses in Sojitz’ existing fields, but will also invest in companies in unexplored business areas to create new value.

The Sojitz Group, which is listed on the Tokyo Stock Exchange, currently has approximately 400 subsidiaries and affiliates located in Japan and throughout the world, developing wide-ranging general trading company operations in a multitude of countries and regions.

As a general trading company, the group is engaged in a wide range of businesses globally, including buying, selling, importing, and exporting goods, manufacturing and selling products, providing services, and planning and coordinating projects, in Japan and overseas.

It also invests in various sectors and conducts financing activities in sectors related to automobiles, plants, energy, mineral resources, chemicals, foodstuff resources, agricultural and forestry resources, consumer goods, and industrial parks.

In Fenox, Sojitz is partnering with a global VC firm with a team of more than 60 people operating out of offices across eight different countries, including Japan, Indonesia, and South Korea, managing over 20 different funds in parallel.

The firm, whose check sizes vary from $250,000 to $10 million, had earlier teamed up with Japanese entertainment company Sega Sammy Holdings to launch a $20-million fund to be invested in advanced technologies globally.

It also partnered with Japan-headquartered automotive parts manufacturer AISIN Group last year to launch a $50-million venture capital fund focused on automotive technology startups.

Also Read:

Fenox said to have raised $25m vehicle targeted at US, Indonesia startups

Fenox partners Japanese entertainment firm Sega Sammy to launch $20m fund

Fenox to announce 3 Indonesian deals soon, targets up to 3 more by year-end

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.