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Toyota and Sumitomo Mitsui Banking Corporation to Invest in New Investment Fund Established by SPARX Group Co., Ltd.(1/1)
SPARX Group Co., Ltd.
Toyota Motor Corporation
Sumitomo Mitsui Banking Corporation
November 4, 2015
Toyota and
Sumitomo Mitsui Banking Corporation to Invest in New Investment Fund
Established by SPARX Group Co., Ltd.
SPARX
Group Co., Ltd. (SPARX Group) announces the establishment of a new investment
fund that aims to encourage
innovation and support the spread of advanced technologies for future
generations, based on a memorandum of understanding signed
in July this year with Toyota Motor Corporation (TMC) and Sumitomo Mitsui
Banking Corporation (SMBC). TMC and SMBC plan to participate in this fund as
investors.
Name of fund:
Mirai
Creation Investment Limited Partnership
Purpose of fund
- To help
accelerate innovation by investing in enterprises that possess technologies
capable of leading growth for future generations
- To build a
portfolio of promising businesses, and realize the potential of technologies
and ideas that can transform the future by promoting them on a global scale
Target
fields
Core fields
for the fund will include AI, robotics, and technologies to help make a hydrogen-based
society a reality. The fund will invest in enterprises possessing innovative
technologies in these fields, as well as related projects.
gTechnologies
to help achieve a hydrogen-based societyh may include enterprises and projects
related to the production, supply, and use of hydrogen.
Timeframe
and expected scale
- SPARX
Group will act as the fundfs general partner. The fund will begin operations in
November with total investment capital of approximately 13.5 billion yen
provided by SPARX Group, TMC, and SMBC.
- The fund
will look to attract additional capital from like-minded investors by March
next year. Ultimately, the fund is aiming to attract total investment capital
of approximately 50.0 billion yen.
Through the
establishment and operation of this new fund, all three companies will continue
to work together to encourage the development and spread of technologies that
will benefit future generations.