Japan’s Global Brain backs local crowdfunding platform

Japanese venture capital firm Global Brain invested an undisclosed amount in rewards-based crowdfunding site Campfire through its GB-VII Growth Fund Investment Limited Partnership.

nn

Photo credit: venimo / 123RF

nn

n n n n

n n

Campfire allows individuals, small businesses, schools, and local government to fundraise for projects and challenges. The company offers donations, rewards, and lending-based crowdfunding services to generate revenue.

n

Since it started operations in 2011, the startup said it has raised over US$100 million and has helped more than 21,000 projects on its platform through over 1 million patrons, according to a statement.

n

Recently, Global Brain participated in a US$17 million series B round for retail automation platform Vue.ai. The VC firm also became a strategic funding partner for Perlin, a Singapore-based cloud computing startup, late last year.