Japan-headquartered electronics manufacturer Hitachi will launch a $150m corporate venture capital arm called Hitachi Ventures on June 1 to accelerate startups globally, especially those based in Europe and the US.
The unit has hired Stefan Gabriel (pictured), formerly president of manufactured goods conglomerate 3M’s corporate venturing subsidiary, 3M New Ventures, to be Hitachi Ventures’ chief executive. He featured in Global Corporate Venturing’s Powerlist in 2012, 2013 and 2014.
Hitachi Ventures will target startups developing disruptive technologies that can integrate with its parent company’s products.
Hitachi itself has been intermittently active in corporate venturing, generally through subsidiaries, backing companies such as C3Nano, Reno Sub Systems and Flutura Decision Sciences and Analytics.
Toshiaki Higashihara, president and CEO of Hitachi, said: “Hitachi Ventures Fund invests in highly innovative and early-stage startups with rapid growth potential. The purpose is to capture the occurring innovations and to support acceleration of the movements.
“Hitachi will deepen collaborations with invested startups to create new markets and to achieve mutual growth. I believe CVC activities will enable Hitachi to speedily develop new business models, innovative products and to deliver value to society.”
Stefan Gabriel added: “As the CVC market develops very actively and is growing globally, Hitachi takes that exciting opportunity to start a significant global corporate venture activity. These strategic early-stage investments will concentrate on selected innovative business concepts with high commercialisation potential for the entire Hitachi and enables it to create new innovative products and services.
“Synergies and learning are expected through technological and business collaboration while foot-printing in adjacent growth markets. For these startups Hitachi will be a reliable investor and business partner. For the Hitachi business, we will scout for startups with entrepreneurial talent to support getting prepared to reinvent the future.”
Photo of Stefan Gabriel courtesy of LinkedIn.
