Japan-based inkjet printer and electronics producer Seiko Epson has launched a ¥5bn ($46.7m) corporate venturing vehicle dubbed Epson X Investment (EXI) in partnership with venture capital firm Global Brain.
Epson owns 99% of the fund and will provide access to its printing technology to portfolio companies. Global Brain will offer the corporate its venture investment know-how and experience in the innovation ecosystem, and will support entrepreneurs in their business development.
EXI will incubate and back startups developing technologies, products or services related to Epson’s core businesses including inkjet, impact and laser printers, in a bid to gain financial returns. It intends to invest in companies worldwide.
The corporate has been conducting mergers and acquisitions transactions for the past decade as part of its open innovation efforts, committing more than $90m in related activities including strategic and financial partnerships with startups in addition to making private equity investments.
The news comes in the wake of Global Brain recently establishing another corporate venture capital (CVC) unit, Kuroneko Innovation Fund, with logistics services provider Yamato Holdings.
Global Brain also helps manage CVC units Sony Financial Ventures, 31Ventures and KDDI Open Innovation Fund with their respective parent companies: consumer electronics producer Sony, property developer Mitsui Fudosan and telecommunications operator KDDI.
