Former IMJ Investment Partners’ director Koichi Saito, Wednesday, announced the setting up a new venture capital fund that will invest in seed stage startups across South East Asia, Hong Kong and Taiwan.
Saito did not disclose the size of the new venture capital arm that will be called KK Fund. It will focus on seed stage investments with ticket sizes of $100k to $400k,
During his stint with the Japanese fund, IMJ Investment Partners, Saito had overseen a team that had made 10 investments each in Japan and the US and 11 deals in South East Asia.
Saito said the major investor in the newly launched KK Fund was Incubate Fund, a top VC firm in Japan with more than $150 million in capital under management, and the latter is backed by Tencent, Yahoo, INCJ, several other investors.
“By leveraging the LP’s and KK’s network, we aim at invigorating M&A activity and strategic investment in startup and VC community throughout Asia,” Saito said.
“I haven’t achieved anything yet, but could not start without tremendous supports from Masahiko Honma from Incubate Fund and other folks,” he added.