Sony Ventures Corporation hits first close on its $215M fourth fund  – TechCrunch

Sony Ventures Company (SVC) introduced right now it has accomplished the primary closing of its $215 million (25 billion JPY) fourth fund, Sony Innovation Fund 3 (SIF3), to again all levels of rising expertise corporations. Sony Ventures Company was established in July final 12 months to handle all of Sony’s enterprise funding actions by Sony Innovation Fund (SIF), Sony Innovation Fund by IGV, a three way partnership with Daiwa Capital Holdings, Sony Innovation Fund: Atmosphere, and SIF3. These funds account for nearly $520.4 million of capital commitments. 

Since launching its first Sony Innovation fund in 2016, the Japanese tech big’s enterprise arm has made greater than 100 investments in expertise sectors like robotics, AI, mobility, healthcare, foodtech, SaaS, fintech, edtech and ESG. As well as, roughly 40% of Sony Innovation Funds portfolio corporations have shaped strategic partnerships with Sony up to now. As an illustration, Japanese robo-advisor WelathNavi supplies its service to SonyBank customers. In January, Sony additionally had a partnership with Japan’s Koala Tech, an natural semiconductor laser component developer, for joint analysis and growth. 

“Right now we introduced the formation of Sony Ventures Company, a 100% subsidiary of Sony Group, and the primary shut of our new fund. The essential technique will stay the identical, however with a bigger fund,” CEO of Sony Enterprise Company Gen Tsuchikawa, who leads the agency, stated in a LinkedIn put up on Thursday.

 Restricted companions of the Sony Innovation Fund 3 embrace Sumitomo Mitsui Banking Company, SMBC Nikko Securities, Mizuho Group, Daiwa Securities Group (Daiwa VC Accelerator), Sumitomo Mitsui Belief Financial institution, The Financial institution of Yokohama, The Shiga Financial institution, Koei Tecmo Capital, Kawasaki Heavy Industries, Mitsubishi Property and Sony Group. 

Most up-to-date portfolio corporations embrace transportation robotics firm Superpedestrian, which raised $125 million in February; metaverse and XR area answer startup monoAI Know-how, which raised a $6.5 million funding in January; and digital picture verification software program supplier Truepic, which secured $26 million in a Collection B funding in September final 12 months. 

“Sony is dedicated to fostering new companies and selling open innovation,” stated Toshimoto Mitomo, government vp of Sony Group. “For the reason that launch of our first fund, our enterprise funding actions have grown steadily, which is why we have now established Sony Ventures Company. We’re assured that this funding exercise will make a stable contribution to Sony and the expertise ecosystems it helps.” 

“We actively foster entrepreneurs and startups that lead the creation of next-generation applied sciences, promote open innovation and contribute to the worldwide setting and social growth by our company enterprise capital actions,” stated Tsuchikawa, CEO of Sony Enterprise Company. “Sony Ventures Company is not going to solely spend money on rising expertise sectors and high-growth startups however will additional strengthen its ESG initiatives and eagerly assist its portfolio corporations.”