Tokyo-based VC firm Cool Japan Fund has led a $40 million Series C round in Taiwanese big data and advertising solutions firm Vpon.
South Korean PE firm STIC Investments, Tokyo-based e-commerce incubator Beenos, and Hong Kong-headquartered travel investor Triplabs also participated in the round. The latest investement round will be used to expand Vpon’s Asia Pacific data business and its R&D unit.
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Taipei-based Vpon, established in 2008, uses proprietary technology for big data processing, analysis, and insights into mobile brand marketing. The firm supports more than 1,500 brands, including McDonald’s, Coca-Cola, American Express, and Citibank. It has a presence in over 750 cities across Asia including Beijing, Shanghai, Guangzhou, and Hong Kong.
The firm had raised $17 million funding in two previous rounds. In 2014, it bagged $10 million in a Series B round from investors including Goldman Sachs, and in 2011 it secured $7 million in a Series A round from undisclosed investors.
Lead investor Cool Japan Fund was founded in 2013 and established as a public-private fund to support and promote the development of Japanese products and services overseas by providing funds in the media content, food, fashion and domestic tourism industries.
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Cool Japan Fund is also an investor in Indonesia’s Gojek. The firm invested around $50 million in October 2019 in Gojek’s Series F round. The firm also invested in travel e-commerce platform KKday, Houston-based anime firm Sentai Holdings, and food video platform Tastemade.
Seoul-based PE firm STIC is reportedly planning to invest in Gojek’s rival, Singapore-based Grab, for $200 million. STIC is one of South Korea’s leading PE firms, with about $4.5 billion in assets under management, according to its website.
