HomeTechnologySony Ventures Corporation hits first close of its $215M fourth fund  –...

Sony Ventures Corporation hits first close of its $215M fourth fund  – TechCrunch

Sony Ventures Corporation (SVC) introduced immediately it has accomplished the first closing of its $215 million (25 billion JPY) fourth fund, Sony Innovation Fund 3 (SIF3), to again all levels of rising expertise firms. Sony Ventures Corporation was established in July final yr to handle all of Sony’s enterprise funding actions by means of Sony Innovation Fund (SIF), Sony Innovation Fund by IGV, a joint venture with Daiwa Capital Holdings, Sony Innovation Fund: Environment, and SIF3. These funds account for nearly $520.4 million of capital commitments. 

 

Since launching its first Sony Innovation fund in 2016, the Japanese tech large’s enterprise arm has made greater than 100 investments in expertise sectors like robotics, AI, mobility, healthcare, foodtech, SaaS, fintech, edtech and ESG. In addition, roughly 40% of Sony Innovation Funds portfolio firms have shaped strategic partnerships with Sony to this point. For occasion, Japanese robo-advisor WelathNavi provides its service to SonyBank customers. In January, Sony additionally had a partnership with Japan’s Koala Tech, an natural semiconductor laser ingredient developer, for joint analysis and growth. 

“Today we announced the formation of Sony Ventures Corporation, a 100% subsidiary of Sony Group, and the first close of our new fund. The basic strategy will remain the same, but with a larger fund,” CEO of Sony Venture Corporation Gen Tsuchikawa, who leads the agency, mentioned in a LinkedIn put up on Thursday.

 Limited companions of the Sony Innovation Fund 3 embrace Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities, Mizuho Group, Daiwa Securities Group (Daiwa VC Accelerator), Sumitomo Mitsui Trust Bank, The Bank of Yokohama, The Shiga Bank, Koei Tecmo Capital, Kawasaki Heavy Industries, Mitsubishi Estate and Sony Group. 

 

Most latest portfolio firms embrace transportation robotics firm Superpedestrian, which raised $125 million in February; metaverse and XR area answer startup monoAI Technology, which raised a $6.5 million funding in January; and digital picture verification software program supplier Truepic, which secured $26 million in a Series B funding in September final yr. 

 

“Sony is committed to fostering new businesses and promoting open innovation,” mentioned Toshimoto Mitomo, govt vp of Sony Group. “Since the launch of our first fund, our venture investment activities have grown steadily, which is why we have established Sony Ventures Corporation. We are confident that this investment activity will make a solid contribution to Sony and the technology ecosystems it supports.” 

 

“We actively foster entrepreneurs and startups that lead the creation of next-generation technologies, promote open innovation and contribute to the global environment and social development through our corporate venture capital activities,” mentioned Tsuchikawa, CEO of Sony Venture Corporation. “Sony Ventures Corporation will not only invest in emerging technology sectors and high-growth startups but will further strengthen its ESG initiatives and eagerly support its portfolio companies.” 

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