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Japanese conglomerate Mitsubishi sets up startup investment arm

1 week ago | globalventuring.com | Oishani Mitra

The company is allocating $700m to backing startups that can help it transform its business portfolio. Japanese conglomerate Mitsubishi Corporation has established an investment arm, MC Global Innovation (MCGI), to help deepen the company’s engagement with startups. Mitsubishi Corp is the latest in a spate of Japanese companies to launch their venture funds at a time when other corporations are either spinning off their units or closing them down.
Chinese oil and gas company Sinopec launches $690m fund

1 week ago | globalventuring.com | Stephen Hurford

The state-owned energy company has announced a new fund to invest in hydrogen startups across the value chain. Credit: ShutterstockChinese state-run oil and gas company Sinopec has announced a 5 billion yuan ($690 million) CVC fund to invest in hydrogen energy startups. The fund will be managed by the Sinopec Capital subsidiary Sinopec Equity Fund Management.
Cox Moya takes over as head of PayPal's investment unit -

1 week ago | globalventuring.com | Maija Palmer

James Loftus who led the team since 2022 is moving to a CFO role at Velocity Global. Ian Cox Moya has been appointed managing partner of PayPal Ventures, taking over the running of the unit as James Loftus steps down. Loftus, who led the team as managing partner since 2022, is taking a role as chief financial officer of Velocity Global, a global workforce management platform.
Indian tech company Info Edge to launch a third fund at $117m

1 week ago | globalventuring.com | Stephen Hurford

Info Edge has announced shareholder approval for a third sector-agnostic fund to be managed by Smartweb Internet Services, totaling $117m. Photo courtesy of Trade BrainsIndian tech conglomerate Info Edge has received shareholder approval to launch a third investment fund at Rs 1,000 crore ($117m). InfoEdge Ventures, the company’s CVC unit, is sector agnostic. Almost all of its investments are in India, and it mainly targets the pre-seed, seed and series A stages but occasionally goes further.
Fujitsu raises $100m investment fund

1 week ago | globalventuring.com | Maija Palmer

The new funding adds to the $69m fund Fujitsu set up in 2021, which has invested in 17 companies to date. Fujitsu, the Japanese IT and electronics group, has launched a second corporate investment fund which will deploy some ¥15bn ($104.2m) over a 10-year period. The fund follows on from the $69m investment fund Fujitsu set up in 2021, and will allow the company to increase the scale at which it invests.
15 fashion startups to watch

1 week ago | globalventuring.com | Oishani Mitra

From novel materials and new textile recycling methods to sneakers linked to NFTs these are some of the early-stage fashion startups that are capturing investors' attention. The fashion industry has been through intense technological changes in recent years, from social media changing buying patterns, to new AI design tools and the introduction of novel materials to improve sustainability.
Smith joins Siemens Energy as senior venture clienting manager

2 weeks ago | globalventuring.com | Stephen Hurford

Travis Smith joins Siemens Energy Ventures as senior venture clienting manager, where he oversees a training programme for staff. Travis Smith has joined German energy technology company Siemens Energy’s CVC unit as a senior venture clienting manager. His role involves working to identify startup technology that can create value for the Siemens Energy business units. He also runs a programme that trains staff members in venture clienting and gives them the opportunity to get involved.
German reinsurer Munich Re launches $125m investment fund

2 weeks ago | globalventuring.com | Stephen Hurford

Munich Re Ventures has launched a $125m fund with capital from insurer HSB, to be invested in technology for de-risking industry. Munich Re head office building, photo courtesy of Munich ReGerman reinsurance company Munich Re’s CVC unit has launched a fifth fund of $125m, focusing on startups making technology to mitigate risk in the construction and property industries and their related supply chains. It will also invest in resilience technology, such as cybersecurity software.
Sommer leaves German utilities company NEW

2 weeks ago | globalventuring.com | Stephen Hurford

Christoph Sommer is leaving his role in innovation at German utilities provider NEW, where he oversaw the group's venture clienting activity. Christoph Sommer, photo courtesy of LinkedInChristoph Sommer said he is leaving his role as innovation manager at the German utilities company NEW, in which he was involved with its venture clienting and startup partnerships. He has been at the company for just under four years, joining in July 2021.
Meridian Health Ventures’ $40m fund collaborates with NHS trusts

2 weeks ago | globalventuring.com | Yoana Cholteeva

Guy's and St Thomas's and Kings College Hospital started the fund in 2021 to see if an NHS VC fund could succeed. Now it has partnerships and funding from US hospital groups. A health tech fund that started as an experiment for the UK’s National Health Service has worked so well it has now gone transatlantic, with US hospital Cedars-Sinai coming in as a large limited parter to a new fund.