Japan-based consumer electronics producer Sony has formed a corporate venture capital vehicle called Sony Innovation Fund: Environment that will focus on environmental technologies.
Sony Innovation Fund: Environment will back developers of technology that can address issues such as climate change, the use of resources, biodiversity and possible harmfulness of chemicals. It will initially seek to invest ¥1bn ($9.4m) in startups at seed stage.
The corporate launched CVC unit Sony Innovation Fund in 2016 and formed a growth-stage investment fund with securities brokerage Daiwa in July 2019.
Toshimoto Mitomo, senior investment executive at Sony Innovation Fund, said: “With its corporate venture capital activities, Sony has promoted open innovation by nurturing technologies and startups for the next generation.
“Through the activities of this new environment-focused fund, Sony aims to accelerate innovation that will help solve global environmental issues and contribute to the progress and development of society.”
