Pegasus Tech Ventures, a global venture capital firm that is headquartered in the Silicon Valley and dedicated to supporting corporate innovation, has established a $100 million corporate venture capital fund with Denka Company Limited, a major Japanese chemicals, materials science, and life science company.
The new fund marks the entry of the 107 year-old chemical company into the corporate venture capital ecosystem, and it strengthens Pegasus’ position as the leading venture capital firm providing “Venture Capital-as-a-Service”, with over US $2 billion assets under management, to multinational corporations and family offices.
Denka, established in 1915, provides chemical products that are essential to contemporary society and critical to a wide variety of industries, including electronics, ICT, batteries, pharmaceuticals, and many other key sectors that are shaping the future. Through this fund with Pegasus, Denka will seek new technologies and business opportunities to advance its growth in ICT, Energy, Healthcare, and Sustainable Living by investing in startup that are developing cutting-edge innovations. The fund will invest in startups across several geographies, including the US, Europe, Israel, and Asia.
“We are excited to partner with Pegasus as we work to advance our innovation activities globally,” said Toshio Imai, President and CEO of Denka, “We value the experience that Pegasus brings working across many cultures, including Japan, the US, and Europe, and the expertise that Pegasus brings facilitating corporate innovation by investing in strategic technologies that can be valuable to Denka.”
Mr. Imai went on to say, “We will make good use of Pegasus’ extensive global network and deep technology knowledge to realize our 2023-2030 management plan, Mission 2030. Through our partnership, we will create new businesses and expand existing businesses to stay on top of the rapidly changing times.”
Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, commented, “Pegasus is the global leader as a venture capital firm focused on managing corporate venture capital funds. We now manage over 30 strategic funds with our corporate partners. We look forward to working with Denka to achieve the company’s visionary Mission 2030 management plan by connecting Denka with top-tier technology startups worldwide.”