Japan-based non-ferrous metal product manufacturer Alconix has formed a ¥3bn ($27.3m) corporate venturing subsidiary dubbed Alconix Ventures.
Founded in 1981 as Nissho Iwai Non-Ferrous Metals, Alconix produces and sells non-ferrous metal materials, particularly aluminium and copper-based products.
Alconix Ventures’ first fund, Alconix Global Innovation Investment Business Limited Partnership, is set to operate for 10 years and will target developers of advanced materials and manufacturing technologies.
The unit will leverage Alconix’s resources and external advisers’ fund management know-how, and its parent firm intends to incorporate ideas and technologies developed by its portfolio companies into its business.
