The consumer electronic producer has partnered Daiwa Capital Holdings and the two are looking to raise up to $185m for Innovation Growth Fund, which has already reached its first close.
Japan-based consumer electronics producer Sony and Daiwa Capital Holdings, a subsidiary of brokerage Daiwa Securities, launched a joint investment vehicle yesterday that is looking to raise up to ¥20bn ($185m) for its initial fund.
The entity in question, Innovation Growth Ventures (IGV), reached the first close of its Innovation Growth Fund last month, and has raised an undisclosed amount from limited partners including Mitsubishi UFJ Lease & Finance Company, a leasing subsidiary of financial services group Mitsubishi UFJ Financial.
Financial services firms Sumitomo Mitsui Banking Corporation (SMBC) and Osaka Shoko Shinkin Bank have also contributed capital to the vehicle, along with an undisclosed university.
IGV was launched to invest in startups operating in key high-growth industries, expanding the activities of Sony Innovation Fund, the corporate venturing unit launched by Sony in 2016.
Sony Innovation Fund invests in technologies such as robotics, drones, artificial intelligence, sensors and machine learning, as well…
