Exciting for those who see innovation and entrepreneurs as a potential way to resolve global issues, Citi, Nestle and Microsoft have all launched large impact funds running into hundreds of millions of dollars. (We are delighted the United Nations will showcase its planned enterprise-enabled sustainable development goals at our 10th GCV Symposium in London on 3-4 June!)
Microsoft’s fund is trying to clean up all its carbon emissions since launch by Paul Allen and Bill Gates but Allen’s institute is also focused in other areas, with its AI2 Incubator setting up a $10M fund for artificial intelligence startups with support from big-name VCs. (For those in the Seattle region where Microsoft and the Allen Institute for AI is based can apply to join an invite-only roundtable and drinks hosted by M12 on 4 March.)
Of the other funding initiatives (headlines from Global Corporate Venturing):
Taiping ties up $1bn fund with CICC
UPMC Enterprises to deploy $1bn
Saudi Aramco oils the wheels of $500m fund
EV Growth closes $250m first fund
Wipro pipes up with $150m Fund II
Goodyear Ventures rolls up with $100m
Antler branches out with $50m fund
Comcast NBCUniversal commences SportsTech accelerator
Launchpad Digital Health enlarges second fund
Novo renavigates Repair Impact Fund
Lear mobilises capital for Autotech Ventures fund
But the overall amount of corporate venturing might be affected this year depending how SoftBank fares with its second Vision Fund and whether it can get close to or pass its first near-$100bn fund launched back in 2016. The Vision Fund has already pulled back in investments.
