Fenox Venture Capital secures $20m for third fund

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dollar large_sqVenture capital firm Fenox has reportedly raised $20m for its third fund.

The fund is targeting $60m and will invest in Asian startups, said the Wall Street Journal.

Fenox is raising the fund from fund of funds, family offices and large corporations after raising each of its previous two vehicles from a single corporate investors, said the report.

Fenox Global Group backed its first fund, while Media Japan invested in its second vehicle.

Earlier this year the firm made its first green technology investment by backing I And C-Cruise, which operates Japanese solar power web portal Green Energy Navi.

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