Mitsui Sumitomo Insurance announced that it sets up 2 billion yen of fund through its VC subsidiary, Mitsui Sumitomo Insurance Venture Capital aiming at investing in Asian startups in China, Taiwan and others.
This is the first VC business in Asia for Japanese insurance company. Mitsui Sumitomo Insurance stakes 95.5% and Mitsui Sumitomo Insurance Venture Capital invests rest.
Nikkei 1/7/2011
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