Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation to Provide Capital Again with Target of JPY50 Billion
Product name：Toyota Motor Corporation and
SPARX Group to Establish "Mirai Creation Fund II."
Toyota City, Japan, Jul 31, 2018 - (JCN Newswire) - SPARX Group Co., Ltd. has established the "Mirai Creation Fund II." The two seed LPs for the "Mirai Creation Fund I," Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation (SMBC), are to participate again as initial investors in Fund II. In addition to the three categories of Intelligent Technology (e.g. artificial intelligence), robotics, and technologies for a hydrogen-powered society that Fund I (formed in November 2015) focused on, the Mirai Creation Fund II mandate also includes electrification and new materials.
An outline of the new fund is listed below.
1. Basic principles
- Providing capital to companies with technologies that can shape the society of the future to accelerate innovation.
- Building a portfolio of innovative companies, the strategy aims to generate a "new power" that will shape the future and impact our world.
2. Target functions
- The fund aims to invest in companies and projects to boost innovation within the following five (5) core technology areas: 1) Intelligent Technology (e.g. artificial intelligence), 2) robotics, 3) technologies for a hydrogen-powered society, including companies and projects related to the manufacture, supply, and utilization of hydrogen, 4) electrification, and 5) new materials.
- With SPARX as the fund manager and with an initial contribution from Toyota, SMBC, and SPARX totaling approximately JPY14.3 billion, Mirai Creation Fund II investment activities are scheduled to begin in August.
- The fund will be open to new LPs until around the end of March 2019, targeting a total of JPY50 billion in commitments.
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
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