Pegasus Tech Ventures, a Silicon Valley-headquartered enterprise capital agency that helps companies put money into startups, stated it has arrange a $100 million fund with Japanese chemical and life science firm Denka.
Denka, a 107-year-old agency, is the only real restricted associate of the newly established company enterprise capital fund and in line with its 2030 mission, is concerned with investing in startups that tackle urgent world points, together with sustainability and inhabitants progress.
Pegasus Tech presently manages greater than 30 strategic funds, or CVC funds, through partnerships with massive world companies in Japan, Taiwan, Indonesia, Europe and the U.S., stated founder and chief government of Pegasus Tech, Anis Uzzaman. These company companions — principally within the manufacturing sector, like industrials, chemical compounds and pharma — need to put capital in startups to include superior applied sciences into their core enterprise, Uzzaman informed TechCrunch.
Pegasus Tech will assist Denka extra particularly seek for early- to late-stage startups in renewable power, EV batteries, chips and well being tech. According to Uzzaman, examine sizes will vary from $500,000 to $1 million for early-stage startups and $2 million to $10 million for later-stage firms.
After a candidate is focused for funding, Denka plans to have a crew work with Pegasus on validating the startup’s thesis. Still, Pegasus will make the ultimate choice on investments, Uzzaman stated. Indeed, a gaggle of companions at Pegasus, together with Uzzaman, and funding managers Bill Reichert, Steve Payne, John Lim and Justin Jackson will likely be closely concerned within the operations of this fund, Uzzaman added.
Pegasus has centered on connecting corporates and startups to leverage its “VC as a service” mannequin since its inception in 2011 and has invested in additional than 250 startups thus far with greater than $2 billion in belongings beneath administration.
Other companions the VC agency has labored with embrace Sega, the online game and leisure firm; Japanet, a tv purchasing firm; NGK Spark plugs, a Japan-based maker of automotive spark plugs; Asus, a Taiwan-headquartered laptop {hardware} firm; Aisin, a Japan-based automotive agency; Bandai Namco, an leisure firm; Kalbe, an Indonesia-based pharmaceutical agency; and Sinar Mas, an Indonesian conglomerate.
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