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Press release
Jun 29, 2020 14:08 JST
Source:
Toyota Motor Corporation
SPARX Group Establishes Space Frontier Fund
TOKYO, Jun 29, 2020 - (JCN Newswire) - SPARX Innovation for the Future Co., Ltd. (SIF)--a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)--today announced that it established the Space Frontier Fund. The Fund primarily aims to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan.
Casting technologies that "promote the exploitation of space" as core technologies of the future, the Space Frontier Fund invests in start-ups and other organizations that boast innovative technologies in related sectors. Even as COVID-19 continues to have a significant impact on life and society, the Fund helps accelerate the pace of innovation by financing companies' and projects' business development in technologies that will drive future growth.
Managed by general partner (GP) SIF, the Space Frontier Fund began operations in June with its initial total capital of JPY 8.2 billion financed through contributions from its limited partners (LP).
By December 31, 2020, the goal is to have gathered a total of JPY 15 billion in capital through additional contributions from investors that endorse the objectives of the new fund.
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Source: Toyota Motor Corporation
Sectors: Automotive
Copyright ©2020 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
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