Investor Profile: DeNA — Thesis, Venture Investments & How to Engage

Startups exploring DeNA venture funding are dealing with a Japanese internet company that calls itself an "eternal venture" — and invests like one. DeNA's Venture Investment business actively backs companies that accelerate innovation in the mobile internet area, and its distinctive engine is Delight Ventures, the DeNA Group fund: a Venture Builder that supports entrepreneur candidates from both within and outside DeNA, from the earliest stages through the growth period, as a partner providing personnel and knowhow. The results: 28 startups invested and produced as of August 2025. DeNA is listed on the Tokyo Stock Exchange (2432), with businesses spanning games, live communities, sports & community, and healthcare & medical, under its mission to "delight people beyond their wildest dreams."

Thesis and focus areas

The venture arm targets mobile internet innovation plus, increasingly, AI: in April 2025 DeNA established DeNA AI Link Co., Ltd., a wholly owned subsidiary for AI consulting and solutions, and it runs a "DeNA ver.2.0 'AI' For & With Startups" programme. Under the theme "For & With Startups," the DeNA Group aims to build an ecosystem that produces global startups from Japan — multifaceted "Support (For)" through funding and expertise, plus "Co-creation (With)" in cutting-edge fields like AI as equal partners.

Investment model

DeNA leverages the Venture Builder strategically: outcomes include capital gains from invested companies, M&A at market value, or bringing a venture into the DeNA Group as a new business. Beyond Delight Ventures, DeNA makes direct investments and capital/business alliances — e.g., its investment into the ff Red & White Venture Fund to accelerate medical-ICT expansion in Central and Eastern Europe (supporting its subsidiary Allm Inc., whose "Join" medical-professional app serves 32 countries). It also co-managed the early-stage Incubate Fund No. I with Incubate Fund (10 investments, including Cluster and Tokyo Otaku Mode).

Programs

DeNA and Delight Ventures run several accelerator programmes: the Domain Expert Program (vertical domain experts team up with DeNA's product and AI experts to co-develop products), V-Challe (operated by Delight Ventures; 30 entrepreneurs have already emerged), and DelightX (San Francisco Bay Area, with support from local Japanese entrepreneurs). The AI support menu includes Go to Market Support (customer and partner introductions via DeNA's network), DeNA as a Customer (DeNA itself as a reference customer), and DeNA Startup Boost Guides (AI experts evaluating and implementing AI services).

How to apply for funding from DeNA

There is no single public pitch portal; the routes are Delight Ventures (delight-ventures.com) for Venture Builder and early-stage programmes, and DeNA's own venture and "For & With Startups" channels for direct investment and alliances. The model rewards founders who want an operating partner, not just a cheque: DeNA puts personnel and knowhow into its ventures. For founders in mobile internet, AI applications or medical ICT with a Japan or Asia angle, a warm introduction through the Delight Ventures network is the strongest path.