Singapore-based VC IMJ Investment Partners has announced the establishment of IMJ Investment Partners Japan Fund 1 (IMJIP Japan Fund 1) to boost Japan’s tech ecosystem. It has already raised 2 billion yen (US$18 million) and will seek to hit 6 billion yen (US$52 million) by end of 2016.

The principal members of this fund are Tomokazu Okuno (General Partner) and Hiroshi Oka (Partner)

IMJIP Japan Fund 1 will focus on funding Japan-based tech startups across all verticals including finance, healthcare, education, security, printing, real estate, and apparel. It will also funnel capital to grow new technologies such as IoT, robotics, blockchain, augmented reality, virtual reality and artificial intelligence.

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In a blog post, IMJ Investment Partners also states that the fund will be channeled towards Series A round or later stage investments.

Before, IMJ Investment Partners mainly set its sights on the Southeast Asia market. Among its recently-added portfolio companies include Jakarta-based AsmaraKu and Indonesian gadget comparison site Pricebook.

IMJ Investment Partners was founded in Tokyo, Japan in 2012. Within half a year, it launched operations in Southeast Asia, with a head office in Singapore.