TDK Ventures, the corporate venturing capital subsidiary of Japan-based electronics producer TDK, closed its sophomore fund at $150m yesterday.
The unit intends to tap its second fund to build a portfolio of 50 early-stage companies over the next three years.
The fund will focus on sectors including clean technology, advanced materials, industrial, robotics, energy, autonomous vehicles, electric vehicles and health technology. TDK Ventures typically invests between $250,000 and $5m in each funding round.
Incubator Mach49 advises TDK Ventures, which launched in July 2019 with the close of its $50m first fund. It has since exited fuel cell technology developer GenCell, laser manufacturer SLD Laser and 3D printing technology provider Origin. It has 16 companies in its portfolio and $200m of assets under management.
Nicolas Sauvage, managing director of TDK Ventures, said: “This new fund renews our commitment to supporting hard-tech entrepreneurs creating innovations for the greater good.
“The materials science field has always been part of the technology sector’s foundation, and as such, it can help the sector address some of the world’s biggest challenges, including sustainability.”
TDK Ventures invested in Analog Inference, a developer of low-power artificial intelligence technology, earlier this month and took part in a $20m series B round for battery manufacturing technology provider Battery Resourcers yesterday.
Anil Achyuta, an investment director at the unit, was recently ranked second in the 2021 Global Corporate Venturing Rising Stars Award list.