A corporate venture capital (CVC) fund targeting new businesses creation through open innovation
Mitsubishi Electric Corporation (TOKYO: 6503) and Global Brain Corporation announced today their immediate launch of the ME Innovation Fund, a corporate venture capital (CVC) fund that will invest in and partner with startups across the world. The fund will operate with a commitment to invest five billion yen in capital over the next ten years.
Today, open innovation has become increasingly important in the effort to adapt quickly to changes in the business world, including diversifying needs of customers and societies, growing environmental awareness, and the rapidly developing technology.
Through the ME Innovation Fund, Mitsubishi Electric and Global Brain will invest in and support the growth of global startups thought to have potential for breakthrough innovations primarily in the digital and green-innovation domains. In addition to financing, the fund will provide wide-ranging business knowledge and management support as well as technology, aiming to realize promising new businesses that can collaborate with Mitsubishi Electric to contribute to a more sustainable world.
Overview of the fund
Name |
ME Innovation Fund L.P. |
Fund Size |
5 billion yen |
Management Period |
10 years |
Investment Target |
Global startups with potential to collaborate with Mitsubishi Electric, particularly in the domain of digital and green innovation. |
General Partner |
Global Brain Corporation |
Limited Partner |
Mitsubishi Electric Corporation |
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Contacts
Media Inquiries
Komatsu Takeyoshi
Public Relations Division
Mitsubishi Electric Corporation
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/
