Japan-based electronics manufacturer Macnica set up a corporate venturing unit dubbed Macnica Ventures yesterday that will invest in companies working on information and communications technology, and in emerging technology sectors.
The new unit will be based in Silicon Valley but will invest in early to late-stage companies across the world, focusing particularly on those that can help Macnica expand the range of areas in which it operates and creating new businesses for the company.
The corporate’s US subsidiary, Macnica Networks USA, will be responsible for identifying potential portfolio companies while the money will come from a fund named Macnica Investment Partners. The size of the fund has not been disclosed.
Macnica Ventures will consolidate the company’s existing venture capital efforts, which began in 1996 through commitments to venture capital funds before extending to direct investments. The unit hopes to deepen Macnica’s relationship with the VC industry.
The company’s portfolio already includes online storage technology company Box, which went public in a $175m initial public offering in January 2015
Founded in 1972, Macnica produces and distributes semiconductors, while also being active in the big data, cloud and security technology industries.