Japan's INCJ will invest $41 million in battery business
Innovation Network Corporation of Japan, the state-owned fund supported by public capital, will invest JPY3.5 billion ($41.3 million) in Enax Co., Ltd., an lithium-ion battery developer in Japan.
Concurrently, the Tokyo-based company has agreed a further commitment of JPY500 million ($5.9 million) from JAFCO, the Tokyo-based VC firm, through share allotments. With JPY4 billion ($47.2 billion) of new capital, Enax will enlarge its operations by opening new operational hub in Aichi prefecture in order to increase production and its capacity for product development. The company said that market demand for lithium ion batteries, used for not only electric cars and hybrid vehicles, but also industrial and residential applications, is expected to growth rapidly in the global market.
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.