TDK Ventures Inc., the corporate venture capital firm of TDK Corporation, has announced the launch of its third fund, Fund EX1, with a total of almost €140 million in new capital. This fund focuses on early-stage investments in energy transition, cleantech, and climate technology startups in the United States and Europe. With this latest funding, TDK Ventures now manages more than €300 million in assets.
EX1 will support startups that are actively working towards the electrification and decarbonisation of various industries. By nurturing the innovative spirit of these startups and providing support through their extensive network and expertise, Fund EX1 aims to accelerate the transition to a more sustainable and environmentally friendly future.
This fund is particularly significant as it marks TDK Ventures’ first investment in European markets. While continuing to back the U.S. climate-tech sector, TDK Ventures recognises the importance of expanding its reach and supporting European startups to foster global innovation and collaboration in the cleantech space.
Noboru Saito, President and CEO of TDK Corporation, emphasised the pivotal role that energy transformation plays in building a sustainable future. He stated, “With this new funding, we are doubling down on our efforts to contribute toward innovations in electrification and decarbonisation, as these two areas are helping to solve society’s toughest problems. By nurturing the innovative spirit of startups around the world and by providing TDK Goodness to the ecosystem, we hope to contribute to a world where energy transformation drives humanity toward a brighter, more sustainable tomorrow in harmony with our environment.”
Nicolas Sauvage, President of TDK Ventures, expressed confidence in the potential of Fund EX1 to support entrepreneurs in the energy transformation and decarbonisation sectors. Sauvage highlighted the importance of foundational improvements in materials science, advanced manufacturing, and scale-up to bring innovative technologies developed in academic laboratories to commercial reality. Fund EX1 aims to provide early-stage startups in the climate tech space with the necessary resources and expertise to accelerate their growth and impact.
TDK Ventures has already made a significant impact in the climate-tech sector, since its establishment in 2019. Some notable companies in their portfolio include Wheels, Autoflight, Ascend Elements, and GenCell. By leveraging the expertise of anchor limited partners in electrochemical technologies, advanced manufacturing, and scale-up, TDK Ventures aims to provide startups with technical guidance and access to global markets.
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- Source: https://www.eu-startups.com/2023/05/tdk-ventures-launches-fund-ex1-with-more-than-e140-million-to-accelerate-energy-and-climate-tech-early-stage-startups-in-europe-and-the-u-s/
