KJ Holdings, the holding company of Japanese education group Kawaijuku, has invested in Do Ventures Fund II, a fund run by a Vietnamese venture-capital firm, as it looks to build education businesses in Vietnam.

In a statement on Monday, the Tokyo-based Kawaijuku said it made the commitment in September to gain access to Vietnam’s education and startup markets and to build ties with companies in education and talent development. It aims to use those relationships for future business partnerships and direct investments, and to develop new education services in the country.

Kawaijuku did not provide any further financial details of the investment.

Do Ventures, based in Ho Chi Minh City and founded in 2020, invests in early-stage startups across Vietnam and Southeast Asia, from seed to Series A. It focuses on consumer and manufacturing technology, AI, education, healthcare, financial services, and climate technology.

Its founders are Nguyen Manh Dung and Le Hoang Uyen Vy, and its first fund, launched in 2020, targeted $50 million with backers including NAVER, Sea and Vertex Holdings.

Kawaijuku, one of Japan’s larger private education providers, is looking abroad for growth as it applies its teaching expertise to new markets.  Vietnam, with strong economic growth and an expanding middle class, is a key overseas market as demand for education rises, the firm noted.

Australia commits $10M to climate investment fund of Vietnam’s Do Ventures