TOKYO -- Corporate Japan
jumped on the startup bandwagon
in a big
way in 2018, nearly doubling
investment in the enterprises
in an effort to spur growth.
A Japan Post Holdings venture
arm invested in about a dozen
upstarts last year, including
artificial intelligence developer
Abeja and
flea market operator
Mercari, while a venture capital
fund of Tokyo
Electric Power Co. Holdings invested in 11 startups.
Overall, traditional Japanese companies' venture capital
investment
reached $1.23 billion
in the year through Dec. 26,
up more than 91% from
the ful
l-year record set in 2017, according to data from M&A advisory
Recof.
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