Chemical giant Denka dives into VC with $100M fund managed by Pegasus Tech Ventures
Japan’s Denka has long been a powerhouse in the chemical industry, with a vast array of products used in everything from semiconductors to solar panels. Now the company is looking to get a piece of the action in the Startup world, with a new $100 million fund to be managed by Pegasus Tech Ventures.
The new fund, which was announced today, will focus on early-stage companies in the industrial technology space. Denka will be the lead investor in the fund, which will back startups developing new materials, manufacturing processes, and environmental technologies.
“This fund will enable us to invest in and support cutting-edge technologies with the potential to create significant value for our customers,” said Tetsuo Iwamura, president and CEO of Denka, in a statement.
Pegasus has a long history of working with Japanese companies, and has managed funds for the likes of Toshiba, Hitachi, and Daiwa House. The firm has also raised a number of venture funds of its own, including a $350 million fund closed last year.
“This is an ideal partnership for Pegasus as we look to continue to grow our activities in Asian markets,” said Harry Tan, managing partner at Pegasus Tech Ventures, in a statement.
The new fund is the latest example of a Japanese conglomerate making a big move into the world of venture capital. Earlier this year, SoftBank announced a $93 billion Vision Fund, while last year saw Mitsubishi launch a $100 million fund with acquaintance fund Javelin Venture Partners.
Chemical giant Denka dives into VC with $100M fund managed by Pegasus Tech Ventures
Tokyo-based chemical manufacturer Denka has established a $100 million corporate venture capital fund, to be managed by California-based VC firm Pegasus Tech Ventures.
The fund will invest in early and growth-stage companies in the US and Asia that are working on cutting-edge technologies in the fields of energy, chemicals, materials, and life sciences.
Pegasus Tech Ventures has a strong track record in these industries, and we are excited to partner with them to identify and invest in the most promising companies and technologies.
Some of the areas of interest for the fund include:
- Advanced materials and nanotechnology
- Cleantech and energy storage
- Life sciences and healthcare
- Sustainable chemistry
The fund will be used to invest in a portfolio of companies that will help Denka to stay at the forefront of innovation and technology.