Japan's Global Brain co-invests $20m in crowdfunding platform Campfire
Summary
It is understood that Global Brain and KDDI Corporation co-invested JPY2.2 billion ($20 million) in Campfire’s Series C round. Founded in 2011, Campfire allows individuals, small businesses, NPO, schools, local governments to fundraise for their projects and challenges. Since its formation, Campfire has raised over 11.2 billion yen and supported more than 21,000 projects through over 1 million patrons (as of April 22, 2019). Global Brain Corporation made the final close of its sixth fund at around $180 million in 2017, a little over the targeted amount. The fund, the largest one raised by Global Brain since it was set up in 2001, seeks to invest in sectors including Internet of Things (IoT), hardware, enterprise, robotics, education and commerce solutions and focuses on investments in Japan, Silicon Valley, South Korea, Southeast Asia, and Israel.