Diversified Japan-based conglomerate Tokai has set up a ¥50m ($460,000) corporate venturing vehicle to invest in local startups.
The unit, Tokai Venture Capital and Incubation (TVC&I), will focus on the total life concierge concept, as part of an open innovation strategy for the creation of Tokai’s new businesses.
In addition to generating synergies with Tokai’s existing core businesses such as energy, information and communications and housing, TVC&I will also create new lifestyle-related businesses in completely different fields.
