Mirai Creation Investment, a collaboration between Toyota, Sumitomo Mitsui and Sparx, will invest in startups working on advanced automotive technologies.
Japan-based automotive manufacturer Toyota has launched a ¥13.5bn ($111m) fund, named Mirai Creation Investment, aimed at startups developing advanced technologies for the car industry, Tech in Asia reported today.
Financial services provider Sumitomo Mitsui Banking Corporation and asset management firm Sparx have also committed capital to the fund. Toyota is reportedly providing $82.3m, while Sumitomo Mitsui is injecting $27.2m and Sparx is investing the remaining $1.6m.
Sparx will serve as the fund’s general partner.
Mirai will seek to identify startups…
