Japan-based property developer Mitsubishi Estate has formed a ¥10bn ($82m) corporate venture capital (CVC) fund called Bricks Fund Tokyo, which will invest its capital over the next five years.
Founded in 1937, Mitsubishi Estate manages real estate assets and provides architectural designs across markets including its home country, China, Vietnam and Singapore as well as the UK and the United States. It falls under the auspices of diversified conglomerate Mitsubishi Group.
Bricks Fund Tokyo will provide tens of millions to ¥500m per deal, focusing on long-term synergies between portfolio companies and its parent firm’s business units instead of short-term business collaboration opportunities, meaning its investment scope will not be limited to real estate technology.
The vehicle’s main target areas will include new lifestyles, paradigm shifts in existing industries and sustainability. More specifically, it will seek out developers of e-commerce, mobility, logistics, software-as-a-service, financial, blockchain, climate, social networking, entertainment, cybersecurity, food, agricultural and life sciences technologies.
Mitsubishi Estate has already been an active corporate venturer, having committed to vehicles including Sony Innovation Fund 3 and University of Tokyo Innovation Platform and made direct investments in companies such as high-sugar cherry tomato developer Osmic, tech community-oriented accommodation provider CEspace and JCG, which promotes esports competitions.
Photo courtesy of Jun Rong Loo via Unsplash.
