MIXI creates USD 50m CVC fund for Indian startups
Sports, lifestyle, and digital entertainment company MIXI is launching a USD 50m (JPY 7.5bn) corporate venture capital fund, “MIXI Global Investments”, to invest into startup companies developing 2C (to-consumer) services, mainly in the entertainment industry in India.
Investment Background and Goals
India is a populous country with approximately 1.4 billion people, and its working-age population (15–64 years old) is expected to continue growing until nearly 2050. Along with population growth, the number of smartphone users is also increasing rapidly, with around 50% of the population owning a smartphone. Due to this rising number of smartphone owners, the digital entertainment market centered around smartphones is also growing rapidly, and the mobile game market is projected to be valued at JPY 1trn by FY2027.
From FY2019-FY2022, MIXI made investments totaling around JPY 70bn with the aim of developing new pillars of business and creating synergies with existing businesses. MIXI invested extensively in growing businesses and services that fit the company’s purpose, creating numerous synergies and contributing to the expansion of our businesses.
MIXI plans to use JPY 30bn to 50bn on M&A and capital and business alliances in the three years from FY2023 to FY2025, and is focusing investments on overseas markets, including emerging markets, aiming to create global businesses and strengthen global synergies. Under this plan, MIXI will invest in the rapidly-growing market of India and leverage their assets and expertise in their 2C services in the Digital Entertainment area to create synergies with portfolio companies.
MIXI’s Business Portfolio
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