Arab News Japan
TOKYO: The Japanese electronics giant Panasonic announced Tuesday that it is investing $150 million in its new California-based venture capital fund, with expanding technology businesses as the target of the money.
The amount that Panasonic has dedicated to the fund, called Conductive Ventures II, represents a 50% increase from its previous fund and is aimed at expansion-stage software and hardware companies. Areas covered include artificial intelligence, financial technology, digital health, future of work and advanced manufacturing.
“Uncertainty is rife in today’s global economy,” said Carey Lai, the managing director of Conductive Ventures, which manages both funds. “We’re committed to helping expansion stage companies build on their foundation, leverage their talent and innovation, and weather the storm to bring to market ideas and technologies that will have a positive impact on their respective industries and – collectively – on the economy.”
Panasonic says that it has been investing in Silicon Valley startups for over two decades and that it provides its portfolio companies with support in business development, sales and cross-border expertise.