Tokyo, Japan-based Internet services company Rakuten, Inc. (TOKYO:4755) officially launched a new US$100m global fintech fund.
The Rakuten FinTech Fund focuses on investments in early to mid-stage fintech startups primarily in the U.S. and Europe.
The fund will support entrepreneurs through expertise in financial services, including access to its divisions in on-line banking, credit cards, insurance, securities and asset management in Japan and internationally.
While the immediate focus will be on companies based in fintech centers such as London, San Francisco, New York and Berlin, the vehicle will gradually expand operations around the globe.
Managing Partner Oskar Mielczarek de la Miel will act as the fund advisor.
Rakuten, which previously invested in such fintech companies as Currency Cloud, WePay and Bitnet, operates several fintech businesses including Rakuten Card, Rakuten Securities, Rakuten Bank, Rakuten Life Insurance.