TLDR:
- The Cool Japan Fund (CJF) has invested $20 million in a fund launched by CDIB CROSS BORDER INNOVATION LIMITED to support Japanese startups seeking global growth opportunities.
- This partnership aims to help Japanese startups expand into Taiwan and the greater Asian market.
Article Summary:
The Cool Japan Fund (CJF) has decided to commit up to $20 million to a fund launched by CDIB CROSS BORDER INNOVATION LIMITED to invest in Japanese startups seeking global growth opportunities. The fund, with stakes held by CJF and CDIB Capital Innovation Advisors Corporation, will focus on startups from Japan, Taiwan, and other regions looking for international expansion. CDIB Capital Innovation Advisors Corporation, the subsidiary of Taiwan’s largest venture capital firm CDIB Capital Group, has a proven track record and opened a Tokyo office in 2023 to support Japanese startups. Through this investment, CJF aims to enhance the global recognition and value of Japanese fashion, food, and lifestyles. The goal is to help Japanese startups enter the Taiwanese and wider Asian markets, a promising partnership compared to CJF making investment decisions independently.
The Cool Japan Fund was established in 2013 by the Japanese government to promote the overseas sales of cultural products like anime and Japanese cuisine. By the end of 2022, it had accumulated a deficit of $218 million from unsuccessful investments, leading to discussions about the fund’s future. The Ministry of Economy, Trade, and Industry (METI) proposed a plan to make CJF profitable by 2025, with the Ministry of Finance warning of a merger or elimination if targets are not met.
This investment signifies a strategic partnership between CJF and CDIB Capital Innovation Advisors Corporation, aiming to support Japanese startups in expanding globally and driving growth in the region.
