We’ve received word from CyberAgent Ventures that it will launch a new investment fund in Korea this coming August, as well as a new office in Seoul. Aside from South Korea, CyberAgent Ventures now has five other offices across Asia, in Japan, China, Taiwan, Vietnam, and Indonesia.
[See also: Why CyberAgent Ventures Chose Indonesia?]
The announcement comes as we are hearing a lot of good news about the startup scene in Korea over the last couple of months. The good folks at Besuccess recently concluded Korea’s first international startup conference, beLaunch, in the country, which got some good coverage on the web.
CyberAgent Ventures’ Indonesia head Takahiro Suzuki said that picking Korea as the location for a new office is a natural choice. He told me:
Korea is one of the most advanced markets in the world in terms of smartphone apps and there are a lot of promising app developers there, because Korea has very deep talent pool thanks to its world-leading online game market. In addition, most Korean entrepreneurs have strong intentions to expand their business outside Korea. This is exactly what CyberAgent Ventures can help through our business footprints throughout Asia.
The new fund is set to dedicate about $10 to $20 million at first, with two to three members managing the fund and with Hideyuki Ebihara leading the new office. Exciting times ahead in Asia, for sure.