Sony announces a new $185M fund to invest in tech startups

TechCrunch | 7/3/2019 | Staff
monna (Posted by) Level 3
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Sony is doubling down on the world of startup investment. The Japanese tech giant announced a new fund that is aiming to raise 20 billion JPY (around $185 million) to invest in companies within “key high-growth industries.”

While Sony launched a fund in 2016, this new vehicle — which is called Innovation Growth Fund — has been set up with others. Firstly, it is being run jointly with Daiwa Capital Holdings — the VC arm of investment bank Daiwa Securities — and early LPs confirmed include Sumitomo Mitsui Banking Corporation, Osaka Shoko Shinkin Bank and Mitsubishi UFJ Lease & Finance Company Limited. Sony isn’t saying how much has been raised so far, but it isn’t the full target yet.

Fund - Investments - Sony - IGF - Goal

The previous fund made over 40 investments, Sony said, and now IGF is taking over with the goal of...
(Excerpt) Read more at: TechCrunch
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