Fenox joins Japan's Aisin for $50m automotive fund

Aisin will be the fund’s sole LP, while Fenox will manage the vehicle, according to a release. The fund will back companies developing technology solutions for autonomous driving, zero-emission, connected vehicles, artificial intelligence (AI), and other automotive applications that require hardware-software collaboration.

Fenox plans to focus on start-ups based in Silicon Valley, aiding their development through Aisin’s automotive expertise and helping them reach the Asian and global markets. The venture is also intended to help Aisin improve its operations and products through access to innovative technology areas.

The Aisin partnership echoes similar vehicles established by Fenox last year with Taiwan-based hardware makers Wistron and Asus. Those funds, with a corpus of $20 million and $50 million respectively, are aimed at helping international technology start-ups access customers and collaborators in Asia, particularly in the fields of AI, augmented and virtual reality, internet of things, big data and cloud computing.

Established in 1965, Aisin manufactures drivetrain, body, engine, brake and IT equipment for automotive applications. The company also makes lifestyle products such as sewing machines, HVAC equipment and furniture.

Several prominent figures in the automotive industry have launched investment funds in recent months aimed at start-ups pursuing innovation in the automotive technology space. Chinese electric vehicle maker NIO is reportedly seeking $500 million for its fund, while Japan’s Nissan and Mitsubishi joined France’s Renault earlier this year to float a $1 billion vehicle with a strong presence in Asia.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• North Asia
• North America
• Fundraising
• Venture
• Technology
• Japan
• USA
• Fenox Venture Capital
• automobiles
• TMT