Japanese mobile entertainment company MIXI has announced the launch of India’s first $50 million Corporate Venture Capital (CVC) fund. The brand aims to empower early-stage entertainment startups in the country.

The newly launched CVC will serve as an investment vehicle for MIXI to identify and help start-ups with a focus on the entertainment sector and consumer services. According to the company, the initiative is a reflection of its goal of fostering innovation in communication and entertainment in emerging countries.

“We believe in India’s start-up ecosystem, especially in the sector of digital entertainment. MIXI is a business operator in social networks and mobile entertainment apps and aims to contribute to startups’ growth with our industry knowledge and assets, positively impacting the startup ecosystem in India,” said Tomoharu Urabe, Principal Partner, MIXI Global Investments Inc.

From FY19 to FY22, the company claims to have made investments totaling around 70 billion yen with the aim of developing new pillars of business and creating synergies with our existing businesses. “We plan to use 30-50 billion yen on M&A, capital, and business alliances in the three years from FY23 to FY25. We’re focusing investments on overseas markets, including emerging markets, and are aiming to create global businesses and strengthen global synergies.”

Under this plan, it will invest in the rapidly growing market of India and leverage its assets and expertise in B2C services in the digital entertainment area to create synergies with portfolio companies, the company added.

Additionally, the company will continue promoting overseas investment while aiming for global business growth and the creation of global synergies.