Sony Ventures Company hits first shut of its $215M fourth fund – TechCrunch

Sony Ventures Company (SVC) right this moment introduced that it has accomplished the primary closing of its $215 million (25 billion JPY) fourth fund, Sony Innovation Fund 3 (SIF3), to assist all phases of rising know-how corporations Is. Sony Ventures Company Sony Innovation Fund (SIF), arrange by IGV in July final yr via a three way partnership with Sony Innovation Fund, Daiwa Capital Holdings, Sony Innovation Fund: Atmosphere and SIF3 to handle all enterprise funding actions of Sony was. These funds are accountable for capital commitments of roughly $520.4 million.

Since launching its first Sony Innovation Fund in 2016, the Japanese tech big’s enterprise arm has remodeled 100 investments in know-how sectors reminiscent of robotics, AI, mobility, healthcare, foodtech, SaaS, fintech, edtech and ESG. As well as, roughly 40% of the Sony Innovation Funds portfolio corporations have strategic partnerships with Sony up to now. For instance, Japanese robo-advisor WelathNavi affords its service to SonyBank customers. In January, Sony partnered with Japan’s Koala Tech, an natural semiconductor laser component developer, for joint analysis and growth.

“At present we introduced the formation of Sony Ventures Company, a 100% subsidiary of Sony Group, and the primary closure of our new fund. The core technique will stay the identical, however with a bigger fund.” Common Tsuchikawa, CEO of Sony Enterprise CompanyThe agency’s lead mentioned in a LinkedIn submit on Thursday.

Tsuchikawa advised TechCrunch that the agency, which started rising SIF3 within the second half of 2021, goals to finish the ultimate completion later this yr. Tsuchikawa mentioned Sony Ventures to take a position as much as $10 million to concentrate on seeds for Collection B corporations.

Sony Innovation Fund 3’s restricted companions embody Sumitomo Mitsui Banking Company, SMBC Nikko Securities, Mizuho Group, Daiwa Securities Group (Daiwa VC Accelerator), Sumitomo Mitsui Belief Financial institution, The Financial institution of Yokohama, The Shiga Financial institution, Koei Tecmo Capital, Kawasaki Heavy Huh. Industries, Mitsubishi Property and Sony Group.

Most lately, the corporate has invested in transportation robotics firm Superpedestrian, which raised $125 million in February; Metaverse and XR area options startup MonoAI Expertise, which raised $6.5 million in funding in January; and digital picture verification software program supplier TruePic, which secured $26 million in Collection B funding final September.

“Sony is dedicated to fostering new companies and fostering open innovation,” mentioned Sony Group Govt Vice President Toshimoto Mitomo. “For the reason that launch of our first fund, our enterprise funding actions have grown steadily, which is why we established Sony Ventures Company. We imagine this funding exercise is a tangible contribution to Sony and the know-how ecosystem it helps. Will give.”

Suchikawa mentioned in an announcement, “We actively foster entrepreneurs and startups that lead the creation of next-generation applied sciences, foster open innovation and promote world environmental and social distancing via our company enterprise capital actions. contribute to growth.” “Sony Ventures Company won’t solely put money into rising know-how sectors and high-growth startups however will additional strengthen its ESG initiatives and eagerly assist its portfolio corporations.”

Up to date with extra feedback from Tsuchikawa within the fourth paragraph

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