Fenox VC and Japan’s Sojitz launches a US$30M startup fund
Fenox Venture Capital, a Silicon Valley fund with significant investments in Southeast Asia, has announced a partnership with Japanese trading company Sojitz Corporationto launch a US$30 million fund, which will be managed by the VC firm.
“We are very happy to announce that top Japanese trading company Sojitz just opened a US$30 million fund that will be managed by our Fenox VC team,” Fenox’s Founding Partner and CEO Anis Uzzaman announced in a Facebook post.
Sojitz’s goal is to target and invest in startups using Fenox’s global network. With seven direct branches and employees/partners in more than 40 countries today, Fenox plans to introduce and invest in top startup businesses for Sojitz through this fund. “This will hopefully help accelerate Sojitz’s business as well. Fenox team is fully committed to work with the Sojitz team,” he added.
Based in Tokyo, the Sojitz Group consists of 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. It 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.
The group also invests in various sectors and conducts financing activities. The broad range of sectors in which Sojitz operates includes those related to automobiles, plants, energy, mineral resources, chemicals, foodstuff resources, agricultural and forestry resources, consumer goods, and industrial parks.
Started in 2011, Fenox works with emerging technology companies across the world. Its 60-plus person team operates out of offices across eight different countries, including Japan, Indonesia, and South Korea, and offers a wide range of domain expertise. It invests between US$250,000 and US$10 million in companies across segments.
Fenox currently manages 18 funds across these markets, and has several multi-million dollar funds under management.
To date, Fenox has invested in close to 120 companies, including 99.co, TechInAsia, Alodokter, Ahlijasa, and Hijup.com, Pomelo Fashion and Moka POS.