Venture capital (VC) SBVA becomes a shareholder in a Japanese content entertainment startup.
On the 13th, SBVA noted that it participated as a new investor in a $55 million (approximately 7.79 billion won) Series B funding round for the Japanese content entertainment startup "Utai-te (UTAITE Inc.)."
This is SBVA's first investment in a Japanese startup, led by Tencent, the largest internet and gaming corporation in China. Several other investors, including the Japan Investment Corporation, also participated.
Utai-te is a niche culture-based entertainment startup that utilizes virtual characters and real people, providing unique experiences that transcend digital and reality.
Park Young-jin, SBVA director, said, "Utai-te has a team composed of leading entrepreneurs in Japan and key personnel in the content field, and it is already generating operating profit."