Pegasus Tech Ventures, a Silicon Valley-based venture capital firm that helps companies invest in startups, said it has set up a $100 million fund with Japanese chemicals and life sciences company Denka .
Denka, a 107-year-old company, is the sole sponsor of the newly created corporate venture capital fund and, in line with its 2030 mission, wants to invest in startups that address pressing global issues, including sustainability and growth. demographic.
Pegasus Tech Ventures currently manages more than 30 strategic funds, or CVC funds, through partnerships with major global companies in Japan, Taiwan, Indonesia, Europe and the United States, said Pegasus Tech Founder and Managing Director Ventures, Anis Uzzaman. These partner companies — primarily in the manufacturing sector, such as industrials, chemicals, and pharmaceuticals — want to invest in startups to integrate cutting-edge technologies into their core business, Uzzaman told TechCrunch.
Pegasus Tech Ventures will help Denka search more specifically for early-stage to late-stage startups in renewable energy, EV batteries, chips and health technologies. According to Uzzaman, the size of the checks will range from $500,000 to $1 million for early-stage startups and $2 million to $10 million for early-stage companies.
Once a candidate is targeted for investment, Denka plans to have a team work with Pegasus to validate the startup’s thesis. Still, Pegasus will make the final decision on investments, Uzzaman said. Indeed, a group of Pegasus Tech Ventures partners, including Uzzaman, Bill Reichert, Steve Payne, John Lim and Justin Jackson and Pegasus investment managers will be heavily involved in the operations of this fund, Uzzaman added.
Pegasus Tech Ventures has focused on connecting businesses and startups to leverage its “VC as a Service” model since its inception in 2011 and has invested in over 250 startups to date with over $2 billion in dollars of assets under management.
Other partners the venture capital firm has worked with include Sega, the video game and entertainment company; Japanet, a teleshopping company; NGK Spark plugs, a Japanese manufacturer of automotive spark plugs; Asus, a computer hardware company headquartered in Taiwan; Aisin, an automotive company based in Japan; Bandai Namco, an entertainment company; Kalbe, an Indonesia-based pharmaceutical company; and Sinar Mas, an Indonesian conglomerate.