Chemical giant Denka dives into VC with $100M fund managed by Pegasus Tech Ventures • TechCrunch

Chemical giant Denka dives into VC with $100M fund managed by Pegasus Tech Ventures • TechCrunch

Pegasus Tech Ventures, a Silicon Valley-headquartered enterprise capital agency that helps firms spend money on startups, mentioned it has arrange a $100 million fund with Japanese chemical and life science firm Denka.

Denka, a 107-year-old agency, is the only restricted companion of the newly established company enterprise capital fund and in line with its 2030 mission, is excited by investing in startups that deal with urgent world points, together with sustainability and inhabitants progress.

Pegasus Tech Ventures at the moment manages greater than 30 strategic funds, or CVC funds, through partnerships with giant world firms in Japan, Taiwan, Indonesia, Europe and the U.S., mentioned founder and chief govt of Pegasus Tech Ventures, Anis Uzzaman. These company companions — largely within the manufacturing sector, like industrials, chemical substances and pharma — need to put capital in startups to include superior applied sciences into their core enterprise, Uzzaman advised TechCrunch.

Pegasus Tech Ventures will assist Denka extra particularly seek for early- to late-stage startups in renewable vitality, 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 workforce work with Pegasus on validating the startup’s thesis. Still, Pegasus will make the ultimate choice on investments, Uzzaman mentioned. Indeed, a gaggle of companions at Pegasus Tech Ventures, together with Uzzaman, Bill Reichert, Steve Payne, John Lim and Justin Jackson and funding managers at Pegasus can be closely concerned within the operations of this fund, Uzzaman added.

Pegasus Tech Ventures 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 to this point 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 television shopping company; NGK Spark plugs, a Japan-based maker of automotive spark plugs; Asus, a Taiwan-headquartered pc {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.