Japan-based air conditioning equipment manufacturer Daikin Industries on Friday revealed the creation of a $100m corporate venturing fund and accelerator called Technology and Innovation Center CVC Office.
The fund will invest over a period of five years, backing startups globally. The accelerator will meanwhile serve to collaborate both with external startups and drive internal innovation projects.
Daikin has also signed an industry-academia co-creation agreement with University of Tokyo to drive the formation of spinouts.
The Technology and Innovation Center CVC Office will handle all aspects of corporate venture capital activities, including identifying investment opportunities, management deals and connecting portfolio companies with relevant business units within Daikin.
Daikin said it was interested in industries being disrupted by technologies such as artificial intelligence and the internet of things, but did not offer any further details on what stages or sectors it plans to invest in.
