Dentsu has launched a fund to finance start-ups that have solutions to the latest advertising and marketing problems.
The fund is called Dentsu Ventures Global Fund I and the Tokyo-based holding company is targeting startups in the U.S., Europe and Asia. Total fund capital is 5 billion Japanese Yen, which is about $42 million at today’s exchange rates.
“The changes in the business environment surrounding the Dentsu Group and the advertising industry itself are accelerating, and the importance of open innovation through business collaboration with promising external partners is increasing,” the firm stated.
The new fund will remain operational through March of 2022, Dentsu said. Investments will focus on seed and early-stage investments, but with some mid- and later-stage investments, as well.
Investments will target start-ups that can “change the marketing and communication business in a broad sense,” as well as new areas that have a “high potential for innovation,” the firm said.
Fund-related inquires can be sent to firstname.lastname@example.org.