The $43.7m ME Innovation Fund is part of a $100m corporate venturing initiative revealed by the electrical product provider in mid-2020 and will invest in digital and green energy companies.
Japan-based electrical equipment manufacturer Mitsubishi Electric launched the ¥5bn ($43.7m) ME Innovation Fund today with venture capital firm Global Brain, building on the established presence of both in the corporate venturing space.
The announcement came two days before the 101st anniversary of Mitsubishi Electric, a subsidiary of conglomerate Mitsubishi Group that provides electric and electronic products including household appliances, air conditioners, lifts, factory automation equipment, semiconductors and satellites.
ME Innovation Fund is set to operate for a decade and will…
