Deals

Yahoo Japan pours $20M into Softbank Capital’s fund to attract U.S. startups

tokyo japan at night

In an effort to get American startups interested in the Japanese market, Yahoo Japan announced today that it has invested $20 million in Softbank Capital’s “Technology Fund ’10” for early-stage startups.

The investment comes on top of the $100 million Softbank Capital has already raised for the fund. Softbank Capital also announced a separate $250 million “PrinceVille Fund” a few months ago, which is focused on helping later-stage startups bring their business to Asia.

Indeed, it’s easier to try and grab a piece of the startup pie from the U.S., rather than wait for the entrepreneurial trend to take off in Japan. According to a recent Forbes piece, Japan’s traditional business culture hasn’t been very friendly towards young startup.

Softbank Capital and Yahoo Japan are aiming to invest in just about every hot sector — mobile apps, online ads, gaming, e-commerce, and more — according to a press release. Yahoo Japan has also named a new head of U.S. operations, Toshiaki Chiku, who will be based out of Softbank’s office in New York City.

Photo: OiMax via photopin cc