Toyota and Sumitomo Mitsui Banking Corporation to Invest 50B Yen in
Toyota and Sumitomo Mitsui Banking Corporation to Invest 50B Yen in "Technologies to help achieve a hydrogen-based society"
author Added by FuelCellsWorks, November 05, 2015

SPARX Group Co., Ltd. (SPARX Group) announces the establishment of a new investment fund that aims to encourage innovation and support the spread of advanced technologies for future generations, based on a memorandum of understandingsigned in July this year with Toyota Motor Corporation (TMC) and Sumitomo Mitsui Banking Corporation (SMBC). TMC and SMBC plan to participate in this fund as investors.

Name of fund
Mirai Creation Investment Limited Partnership

Purpose of fund

To help accelerate innovation by investing in enterprises that possess technologies capable of leading growth for future generations
To build a portfolio of promising businesses, and realize the potential of technologies and ideas that can transform the future by promoting them on a global scale

Target fields
Core fields for the fund will include AI, robotics, and technologies to help make a hydrogen-based society a reality. The fund will invest in enterprises possessing innovative technologies in these fields, as well as related projects.
"Technologies to help achieve a hydrogen-based society" may include enterprises and projects related to the production, supply, and use of hydrogen.

Timeframe and expected scale

SPARX Group will act as the fund's general partner. The fund will begin operations in November with total investment capital of approximately 13.5 billion yen provided by SPARX Group, TMC, and SMBC.
The fund will look to attract additional capital from like-minded investors by March next year. Ultimately, the fund is aiming to attract total investment capital of approximately 50.0 billion yen.

Through the establishment and operation of this new fund, all three companies will continue to work together to encourage the development and spread of technologies that will benefit future generations.