DeNA, the Japanese mobile social gaming company, has announced its contribution of $27.5 million towards a new venture capital fund called Incubate Fund No. 1 Limited Partnership. With its investment, DeNA holds an 83% stake in the fund.
Based in Tokyo, the fund is designed to invest in companies working in open social media, with a preference for social gaming startups. According to the press release, DeNA will invest in game developers that can be included in their mobile gaming platform, Mobage-Town. The company says it is targeting app developers who are interested in both domestic and global markets, and the fund will be aimed largely at those gaming companies at the seed round.