Japan-based shipping company Mitsui OSK Lines (MOL) has set up a ¥4bn ($38.7m) corporate venture capital fund.
The vehicle, MOL Plus, will mainly invest in early and middle-stage startup companies that can “reform ocean shipping business models and create new businesses from mid-to-long-term viewpoints,” it said.
Takuya Sakamoto (pictured) developed MOL Plus through an employee proposal system. Other shipowners, including Eastern Pacific through its Techstars-powered accelerator in Singapore, Maersk through its Growth unit and CMA CGM, invest in and work with startups.
Photo of Takuya Sakamoto courtesy of LinkedIn.
