Yesterday, TechCrunch Japan reported about a very interesting tie-up in Japan’s Internet and mobile world: GREE is partnering up with NTT, NEC Biglobe, Septeni and Mitsubishi UFJ Capital to launch a fund targeted at early-stage startups.
Japan has seen a seed accelerator/incubator bubble forming in the past few months, and the so-called B Dash Ventures fund is the newest addition.
The plan is to initially raise 2 billion yen (US$26 million) until next year and find suitable startups in web advertising, smartphone app development and (of course) social gaming. Each of the startups selected can expect a capital infusion of around 10 million yen (US$130,000), free office space in Tokyo and other support.