Sony Ventures Corporation (“SVC”), an owned subsidiary of Sony Group Corporation (“the Sony Group”) has just announced the completion of the first closing of its new fund, Sony Innovation Fund 3 L.P. (“SIF3”).
The fund will target 25 Billion Yen. SMBC Group, Mizuho Group, Daiwa Securities Group, Sumitomo Mitsui Trust Bank, Limited., The Bank of Yokohama, Ltd., The Shiga Bank, Ltd., Koei Tecmo Group, Kawasaki Heavy Industries, Ltd., Mitsubishi Estate Co., Ltd., a university, and the Sony Group are amongst the limited partners.
In fact, looking back in time, the SVC was established in July 2021 and manages Sony Innovation Fund, which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges.
The Sony Group has participated in the global ecosystem for creating new businesses and supporting the business growth of innovative venture-backed companies. The Sony Group led these investment activities through Sony Innovation Fund, Sony Innovation Fund by IGV, a joint venture with Daiwa Capital Holdings Co., Ltd., Sony Innovation Fund: Environment (2020), and now SIF3. These funds, collectively referred to as Sony Innovation Fund, are managed by SVC and account for nearly 60 Billion Yen of capital commitments.
Toshimoto Mitomo, Executive Vice President of Sony Group Corporation, commented:
“Sony is committed to fostering new businesses and promoting open innovation. Since the launch of our first fund, our venture investment activities have grown steadily, which is why we have established Sony Ventures Corporation. We are confident that this investment activity will make a solid contribution to Sony and the technology ecosystems it supports.”
Gen Tsuchikawa, CEO of Sony Ventures Corporation, also noted:
“We actively foster entrepreneurs and startups that lead the creation of next generation technologies, promote open innovation, and contribute to the global environment and social development through our corporate venture capital activities. Sony Ventures Corporation will not only invest in emerging technology sectors and high-growth startups, but will further strengthen its ESG initiatives and eagerly support its portfolio companies.”
The Sony Group has experience and resources from its operating and investment teams globally. Sony and SVC will continue to utilize these capabilities to engage with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and support ESG investing while maintaining a focus on return on investment.