Panasonic invests $100m in US-Japan VC fund
Panasonic has committed $100 million as the sole LP in a fund managed by US-based Conductive Ventures that will focus on helping technology start-ups access Japanese markets.
According to a statement, the fund will invest enterprise software and hardware, leveraging relationships with Panasonic and its corporate partners. It follows an announcement from the electronics giant last year that indicated it would set up a $100 million VC unit known as Panasonic Ventures to be based in the US.
The Conductive team is led by Carey Lai, formerly of Intel Capital and US-based late-stage VC Institutional Venture Partners, and Paul Yeh, who previously worked as a hardware and manufacturing specialist for companies including Ford Motor and Tesla. Existing portfolio investments include semiconductor company Ambiq Micro, 3D printing developer Desktop Metal, and IT platform provider Sprinklr.
Panasonic has indicated that Panasonic Ventures will work with external venture capitalists to invest in development areas that are not bound by the company's existing business fields.
The company has also been active recently as a direct investor in start-ups with participation last year in an early-stage rounds for US auto technology player Drivemode, Japanese home automation developer Seven Dreamers, and Taiwanese electric scooter maker Gogoro.
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