Electronics manufacturer TDK's venture unit is targeting 'iconic' startups with its latest fund, seeking technologies that can define new markets.
Japan-based electronics producer TDK’s corporate venture capital arm launched a $150m fund yesterday, bringing its total capital allocation to $500m.
TDK Ventures’ Fund 3 will concentrate on similar areas to its predecessor funds, investing in advanced materials, sensor technologies and power solutions startups between seed and series B stage, seeking out “iconic” startups.
“At TDK Ventures, our mission is to catalyse iconic companies – visionaries shaping our future through deeptech innovation,” said TDK Ventures president Nicolas Sauvage, in a press release announcing the fund.
“With Fund 3, we doubled down on our commitment to uncover and support transformative startups poised to define new markets.”
Fund 3 will focus on artificial intelligence and computing technologies, in addition to advanced materials, robotics and manufacturing, climate technology, mobility agriculture technology and the digital economy.
TDK Ventures was launched with a $50m first fund in 2019 and the latest one comes in the wake of a $150m Fund 2 in 2021 and a $150m Energy and Climate Tech Investment Fund two years later.
The unit’s investments include AI workload management startup Groq, which closed its most recent funding at a $2.8bn valuation, as well as sustainable battery material producer Ascend Elements, itself valued above $1bn.
The launch of Fund 3 follows the opening of a European office, in London, adding to its Silicon Vallery base and an Indian office.
