Hitachi Establishes the Corporate Venture Capital Fund to Support Startups as an Innovation Partner

Apr 26, 2019 12:33 JST

Source: Hitachi, Ltd.

TOKYO, Apr 26, 2019 - (JCN Newswire) - Hitachi, Ltd. (TSE: 6501) to establish a new corporate venture capital (CVC) unit, Hitachi Ventures GmbH (HVG), whose responsibility will be to identify and acquire equity interests in fast-growing innovative startups globally on June 1, and the CVC fund, "Hitachi Ventures Fund".

Hitachi has been trying to improve people's quality of life and contributing to the sustainable progress of society by collaborating with stakeholders as "an innovation partner for the IoT era". Meanwhile, digital disruption changes conventional industry/market structure, especially by startups. We believe we can support and accelerate solving social and customers' issues through collaboration with selected startups by combining their disruptive innovation and Hitachi's technology, know-how, and customer channel.

HVG will hire top external talents with experience and capability on CVC activities to invest to and collaborate with startups globally. Stefan Gabriel, former president of "3M New Ventures" is announced to be CEO of HVG.

"Hitachi Ventures Fund" begins with a size of $150M.

Hitachi is going to support creating innovation by startups through the CVC activities, and expand collaborative creation with them as a partner.

"Hitachi Ventures Fund invests in highly innovative and early-stage startups with rapid growth potential. The purpose is to capture the occurring innovations and to support acceleration of the movements. Hitachi will deepen collaborations with invested startups to create new markets and to achieve mutual growth. I believe CVC activities will enable Hitachi to speedily develop new business models, innovative products and to deliver value to society." said Toshiaki Higashihara, President & CEO of Hitachi, Ltd.

"As the CVC market develops very actively and is growing globally, Hitachi takes that exciting opportunity to start a significant global Corporate Venture Activity. These strategic early-stage investments will concentrate on selected innovative business concepts with high commercialization potential for the entire Hitachi and enables it to create new innovative products and services. Synergies and learning are expected through technological and business Collaboration while foot-printing in adjacent growth markets. For these startups Hitachi will be a reliable investor and business partner. For the Hitachi Business, we will scout for startups with entrepreneurial talent to support getting prepared to re-invent the future!" said Stefan Gabriel, to be appointed CEO of Hitachi Ventures GmbH.

Contact:

Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111

Source: Hitachi, Ltd.
Sectors: Cloud & Enterprise

Latest Release

Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST

GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST

Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST

Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST

UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST

Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST

MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST

NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST

Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST

Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST

NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST

Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST

TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST

First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST

Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST

Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST

Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST

Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST

More Latest Release >>

Latest Release

Related Release