Japan-listed sports apparel producer Goldwin has formed a corporate venture capital arm called Goldwin Venture Partners in partnership with open innovation firm Mirargo’s investment management subsidiary, Ignition Point Venture Partners.
Founded in 1951, Goldwin manufactures sportswear items through brands including Goldwin, The North Face, Helly Hansen, Speedo, Icebreaker, Ellesse and Woolrich, and runs 150 stores across its home country and in San Francisco, in the United States.
Mirargo was founded in early 2020 as Ignition Point, or IGP X for short, and helps startups to strengthen their management and corporates to conduct open innovation activities. Its areas of focus include new business development and spinoff projects.
Goldwin had already been involved in open innovation initiatives including the launch of a research and development arm called Goldwin Tech Lab in 2017. It has also conducted corporate venturing, having invested in biomass plastic developer Bioworks in January 2022.
Goldwin Venture Partners will supply funding for companies through a ¥3bn ($24.6m) vehicle dubbed Goldwin Play Earth Fund, which is set to operate for 10 years.
The fund will help Goldwin carry out its medium-term five-year management plan, Play Earth 2030, the goals of which include strengthening business and environmental sustainability.
The unit will concentrate on developers of technology and services related to sports garment manufacturing, distribution and sales, as well as fields having to do with children and local communities’ health such as alternative diets, medical care and education.
Companies working on materials with low environmental impact in the production process will also be sought out for funding.
Photo courtesy of Goldwin Inc.
