Japan-headquartered chemicals producer Taiyo Holdings and its US-based subsidiary, Taiyo America, have teamed up with venture capital firm Pegasus Tech Ventures to form a $10m corporate venture capital (CVC) vehicle.
Taiyo CVC Fund will operate for a period of seven years which can be extended, and its capital can be increased to $30m through a capital call process.
Taiyo Holdings was founded in 1953 and its main business centres on the manufacturing of solder mask, an insulating ink that protects the printed circuit board used in electronic products including mobile devices and personal computers.
The fund will invest in startups globally that are working on areas related to electronic components production or which have potential synergistic value to Taiyo. In addition to funding, the portfolio companies will receive mentoring and access to the corporate’s networks and partners.
Pegasus Tech Ventures already co-runs multiple CVC vehicles in the Asia-Pacific region, including partnerships with Japan-based corporates Aisin, Asahi Broadcasting Corporation, Bandai Namco, Nikkei, Omron, Sega Sammy, Shimizu, Sojitz and Teijin.
