SAN JOSE, Calif.--(BUSINESS WIRE)--Fenox Venture Capital and Sega Sammy Holdings have jointly announced a $20 million venture capital fund to invest in advanced technologies globally. Fenox Venture Capital is an international venture capital firm with headquarters in Silicon Valley. Sega Sammy Holdings INC., is a Japanese general entertainment company group engaged in a range of businesses, including digital games, amusement machines, toys, animation production and resort facility development.
The purpose of the fund, for which Fenox Venture Capital acts as General Partner, is to contribute to Sega Sammy’s innovation and growth by investing in startups with the potential for strategic synergy with Sega Sammy’s businesses. The Fenox model is to pursue strategic value through partnerships with startups, and financial return for its corporate Limited Partners, while providing growth capital and business development opportunities for its portfolio companies.
Sega Sammy and Fenox Venture Capital began their partnership three years ago when Fenox became General Partner of a new private fund designed to fulfill the corporate venture capital function for Sega Sammy. Over the years, Fenox has invested in several companies in the United States, Japan and elsewhere on behalf of Sega Sammy.
Some prominent investments include: Affectiva, which is an emotion recognition AI software from MIT; X.ai, which offers an AI personal assistant that helps with scheduling; QC Ware, which provides quantum computer software for the next generation of enterprise computing; and D-ID, an Israel startup that graduated from the well-known incubator Y Combinator.
In addition, Fenox and Sega Sammy are collaborating on a new co-working space in Tokyo, established at the new office of Sumitomo Real Estate in Osaki Garden Tower. The building has been the headquarters of Sega Sammy Group and Fenox Japan since September 2018. The co-working space is intended to expand the reach and impact of Fenox and Sega Sammy in the Japanese startup ecosystem.
Haruki Satomi, President and Group COO of Sega Sammy, said, “We have been investing in the world's top startups with Fenox Venture Capital for three years. We are delighted to expand the scale of the fund and increase our investments in cutting edge technologies around the world, helping us to strengthen our business activities on a global scale.”
Anis Uzzaman, CEO and General Partner of Fenox Venture Capital, also commented, “We are honored by the confidence Sega Sammy has shown in Fenox by expanding this fund. We will continue to uncover major technology trends and fund advanced technology companies that can contribute to Sega Sammy’s growth.”
To expand its global reach and promote innovation, Fenox Venture Capital hosts the world's largest startup competition, called “Startup World Cup.” Entrepreneurs in 40 cities around the world compete for the opportunity to come to Silicon Valley to win a $1,000,000 investment prize. This year, the Japan Regional competition was held at the Tokyo International Forum on Friday, October 5, 2018. JEPLAN, which has technology to recycle polyester from old clothes, beat out 150 other companies to become this year’s Japan regional champion. Another company, "Life is Tech," won the “Sega Sammy Group Award,” which came with a $500,000 investment prize.
This coming year, the top 40 startups in the world, the winners of the regional competitions, will compete for the $1,000,000 investment prize at the Grand Finale in San Francisco on May 17, 2019.
For more information on the Startup World Cup, please visit https://universe.com/startupworldcup2019
About Sega Sammy Holdings
Sega Sammy Holdings INC., is a Japanese general entertainment company group engaged in a wide range of businesses, including digital games, amusement machines, toys, animation production and resort facility development. The company has over 70 subsidiary companies, including Sega Group, widely known for arcade games and home games. Sega Sammy has established itself as a leading entertainment company with presence not only in Japan but also in Asia, Europe and North America. For more information, please visit http://www.segasammy.co.jp/english/.
About Fenox Venture Capital
Fenox Venture Capital, headquartered in Silicon Valley, is a venture capital firm that has invested in over 140 startups in the world, including Vicarious, x.ai, Color Genomics, Affectiva, Meta, IFTTT, and many others. Fenox invests in companies with the objective of creating financial value and creating strategic value for the firm’s investors and portfolio companies. For more information, please visit http://www.fenoxvc.com.
