Japan's INCJ backs Alps Electric
State-backed Innovation Network Corporation of Japan(INCJ) has decided to inject JPY3 billion ($3.2 million) into a new company spun off from Alps Electric Co, a Japanese electrical parts producer, in its first round of investment.
INCJ also plans to invest up to JPY10 billion ($10 million) depending on business development The investment will be the first deal for INCJ since the formation of its JPY90 billion ($965 million) fund in July 2009.
The fund supports innovative businesses in areas such as advanced materials, electronics, energy, environment, life sciences, and machinery. The investee will produce electronic devices used for electric cars and SmartGrid technology, which delivers electricity from suppliers to consumers using two-way digital technology to control appliances to save energy, reduce cost and increase reliability. This technology has been invented with Tohoku University.
More on Expansion
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.