Co-managed by Innoh Associates, the CVC unit will operate for seven years and back strategic areas such as marketing, retail, energy and AI.
“Edion北宇和島店 – panoramio” by Yoshio Kohara is licensed under CC BY 3.0.
Japanese consumer electronics retailer Edion has formed a ¥10bn ($63m) corporate venture capital fund dubbed Brand New Retail Initiative Fund.
Edion was founded in 2002 and is the fifth largest Japanese electronics and home appliance chain after peers Yamada Denki, Bic Camera, K’s and Yodobashi Camera.
Through the CVC initiative, Edion aims to create a more sustainable business environment in Japan, which is facing a declining birthrate and an ageing population. Some targets include expanding internet sales, increasing inbound visitors and attracting foreign manufacturers to the country.
Brand New Retail Initiative Fund will run until December 2031, focusing on early-stage marketing, retail, renovation, energy, battery recycling, IT, AI and blockchain startups. Venture capital and M&A advisory firm Innoh Associates will jointly manage the fund as general partner.
