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Sony Ventures Corporation achieves first closing of its fourth $215 million fund – TechCrunch

Sony Ventures Corporation (SVC) today announced that it has closed the first closing of its fourth $215 million (25 billion yen) fund, Sony Innovation Fund 3 (SIF3), to support all stages of emerging technology companies. Sony Ventures Corporation was established in July last year to manage all of Sony’s venture capital investment activities through Sony Innovation Fund (SIF), Sony Innovation Fund by IGV, a joint venture with Daiwa Capital Holdings, Sony Innovation Fund: Environment and SIF3. These funds represent nearly $520.4 million in capital commitments.

Since launching its first Sony Innovation fund in 2016, the Japanese tech giant’s venture capital arm has made more than 100 investments in tech sectors including robotics, AI, mobility, healthcare, technology food, SaaS, fintech, edtech and ESG. In addition, approximately 40% of Sony Innovation Funds portfolio companies have formed strategic partnerships with Sony to date. For example, Japanese robo-advisor WelathNavi provides its services to SonyBank users. In January, Sony also entered into a partnership with Japan’s Koala Tech, a developer of organic semiconductor laser elements, for joint research and development.

“Today we announced the formation of Sony Ventures Corporation, a wholly owned subsidiary of Sony Group, and the first closing of our new fund. The basic strategy will remain the same, but with a larger fund,” CEO of Sony Venture Corporation Gen Tsuchikawawho runs the company, said Thursday in a post on LinkedIn.

Sony Innovation Fund 3 sponsor partners include Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities, Mizuho Group, Daiwa Securities Group (Daiwa VC Accelerator), Sumitomo Mitsui Trust Bank, The Bank of Yokohama, The Shiga Bank, Koei Tecmo Capital, Kawasaki Heavy Industries, Mitsubishi Estate and Sony Group.

The most recent portfolio companies include transportation robotics company Superpedestrian, which raised $125 million in February; Starting the Metaverse and XR Domain Solution monoAI technology, which raised $6.5 million in funding in January; and supplier of digital image verification software truepicwhich secured $26 million in Series B funding in September of last year.

“Sony is committed to fostering new businesses and promoting open innovation,” said Toshimoto Mitomo, Sony Group Executive Vice President. “Since launching our first fund, our venture capital investment business has grown steadily, which is why we established Sony Ventures Corporation. We are confident that this investment activity will make a solid contribution to Sony and the technology ecosystems it supports.

“We actively encourage entrepreneurs and startups that lead the creation of next-generation technologies, promote open innovation, and contribute to global environment and social development through our venture capital activities,” said Tsuchikawa, CEO of Sony Venture Corporation. “Sony Ventures Corporation will not only invest in emerging technology sectors and high-growth startups, but will further strengthen its ESG initiatives and eagerly support its portfolio companies.”

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