With the new fund in the US, Mitsui Chemicals aims to double down in its global investment strategy.
Japanese chemical company Mitsui Chemicals has launched a new US-based CVC fund to expand its global investment activity.
Dubbed 321Catalyst, the new 10-year fund will have $60m to invest in startups in sectors including mobility, lifestyle and healthcare, IT, sustainability and other new industries.
Focusing on seed-stage and beyond, the fund will invest globally. Mitsui has established a subsidiary called 321Catalyst Ventures to act as general partner under the umbrella of the corporate’s North American arm.
The fund builds on Mitsui Chemicals’ first CVC, 321Force, which is managed by Global Brain and was launched in 2022 with roughly half the capital of 321Catalyst.
Mitsui Chemicals has appointed Shunsuke Fujii as president of the new fund.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
