Saemin Ahn, Managing Partner, Rakuten Capital
Rakuten Capital, the corporate venture capital (CVC) arm of Japanese internet conglomerate Rakuten, has announced the appointment of Saemin Ahn as managing partner. Ahn rejoins the firm after a stint at 500 Global, marking his return to Rakuten’s investment operations, Global Venturing reported.
Ahn was instrumental in establishing Rakuten’s CVC initiative, which was launched as Rakuten Ventures in 2014. Over nearly a decade, he helped steer the fund’s early investments in technology startups across Asia and the US.
Notable investments under his leadership include Carousell, a Singapore-based consumer marketplace for second-hand goods, and OneSignal, a push notification technology provider. Ahn also served as a board member for both companies until his departure from Rakuten Ventures in January 2023.
Following his tenure at Rakuten Ventures, Ahn joined 500 Global, a prominent venture capital firm with investments in tech startups worldwide. Based in Singapore, he focused on Southeast Asian (SEA) markets during his time with the firm.
His return to Rakuten Capital comes as the company continues to expand its global investment portfolio. The unit’s focus spans sectors including fintech, transport, consumer technology, and energy.
Also Read: Bitcoin falls to US$81,300 as gold shines ahead of FOMC meeting 2025
Recent activity includes participation in the pre-Series B funding round of Leal, a Colombian developer of AI-driven customer engagement platforms, and the Series B extension round for Honest, an Indonesian digital financial services provider.
Rakuten Capital’s activity reflects the conglomerate’s broader ambitions in digital services and technology. In Singapore, its digital reading arm, Rakuten Kobo, recently launched Kobo Plus, an all-you-can-read subscription service offering access to over two million eBooks and more than 300,000 audiobooks.
According to a HardwareZone report, the service costs S$9.99 per month and offers a 14-day free trial.
The launch comes amid growing demand for digital content, particularly in Asia. According to Kobo data, Singapore has seen a 31 per cent increase in active digital readers, indicating a shift in consumer behaviour towards e-books and audiobooks.
While the physical book market faces challenges, the global e-book market is expected to grow to US$22.76 billion by 2030, driven by a compound annual growth rate of 4.78 per cent. Asia is projected to lead this growth.
—
Image Credit: Saemin Ahn’s LinkedIn
The post Saemin Ahn returns to Rakuten Capital as firm continues to expand its global investment portfolio appeared first on e27.