Rub shoulders with leading experts and industry disruptors at TNW Conference →

The heart of tech

This article was published on October 18, 2011


    Japanese VC firm continues focus on Taiwan with new office, investment

    Japanese VC firm continues focus on Taiwan with new office, investment Image by: Picasa 2.7
    Jon Russell
    Story by

    Jon Russell

    Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

    Startups in Taiwan have been handed a significant boost as Japanese venture capital firm CyberAgent opened an office in the country.

    The company has already set its sight on the local mobile sector talent, according to Focus Taiwan, which quotes the company as confirming plans to invest a total of $2 million into two local startup companies.

    CyberAgent became the first overseas firm to invest in a Taiwanese web product in the past ten years when it put $1 million into Taiwanese iPeen six months ago. The investment put the value of the interactive food guide, which combines elements of a social network with recommendations and discounts, at $5 million.

    As TechOrange notes, the deal prompted iPeen to double its staff to 60 and expand into new regions with the target of increasing the number of restaurants on its service to 120,000 by the end of this year.

    With more than 200,000 daily visitors, iPeen’s success has helped CyberAgent see the potential in Taiwan, with their local presence being a huge plus for the startup community in the country.

    CyberAgent is active across Japan, China and Thailand, with Japanese social network Mixi, mobile gaming network DeNA and Chinese video giant Tudou the most notable of its 70 investments.