Sony Establishes “Sony Innovation Fund: Environment” to Nurture Ventures Specializing in Environmental Technology
Sony Corporation (hereafter “Sony”) developed the corporate endeavor capital fund, “Sony Development Fund: Environment,” in September 2020, to nurture ventures specializing in brand-new ecological technology.
Sony developed the Sony Development Fund in July 2016 to purchase seed to early-stage startups. With workplaces in Japan, The United States And Canada, Europe and India, Sony has made more than 60 investments to date in a broad range of organization locations, from AI and robotics to movement, IoT, medical, fintech and home entertainment.
In March 2019, Sony established a joint venture company, Innovation Development Ventures, Inc., with Daiwa Capital Holdings, Inc. to form a larger joint fund, Development Fund I L.P. Sony has actually likewise been buying mid- to later-stage ventures through this fund.
Considering that its inception, the Sony Innovation Fund has actually supported the development of its portfolio companies by supplying them with opportunities for partnership on whatever from technology to joint advancement and organization partnerships. Sony will continue to make value-added financial investments with the Sony Innovation Fund: Environment progressing.
Sony’s long-term vision is to achieve a “no ecological footprint” by 2050 throughout the life cycle of its items and organization activities. In addition, Sony prepares to promote activities that will have a positive impact on the global environment through innovation and organization. As part of this effort, Sony Innovation Fund: Environment, Sony’s 3rd business equity capital fund, will focus on supporting business that are establishing technologies to address worldwide ecological issues such as climate modification, resources, chemical substances, and biodiversity. The fund will begin by investing 1 billion yen primarily in seed- to early-stage startups, but an additional expansion in scale is being thought about in the future depending on the level of activity. From a long-term view, Sony aims to achieve both a contribution to the international environment in addition to a roi. In addition, all of the Sony Innovation Fund’s funds are preparing to include ESG to their financial investment assessment requirements.
Remark by Toshimoto Mitomo, Executive Vice President of Sony Corporation
“With its business venture capital activities, Sony has promoted open innovation by supporting technologies and start-ups for the next generation. Through the activities of this brand-new environment-focused fund, Sony intends to speed up innovation that will help resolve global environmental problems and add to the development and advancement of society.”
Sony will browse, both internally and externally, for innovations and ventures that can assist fix environmental problems, and will offer investment capital and commercialization support in an effort to help produce a better, more sustainable society.