The consortium already owns a 19.9 per cent stake in AOF.
Rippel was most recently Naspers' CEO of global business to consumer (B2C) subsidiaries.
The new fund has a target of $150 million.
The startups operate in the areas of on-demand bus technology, fleet management, and autonomous vehicle safety testing.
Panasonic said the division has established itself as a top brand in the Japanese security camera market.
The commitment from Minnesota SBI is in addition to the $100-million commitment approved by the New Jersey Division of Investment.
The auction is said to have drawn bids from Prologis and Brookfield Asset Management.
RISA Partners has pledged $50 million while Japanese commercial lender Aozora Bank has committed $20 million to the fund.
The investment gives Al Najah access to Regent's network of five school campuses located in Klang, Puching, Sungei Petani, and Kuantan.
she1K aims to expose more corporate women to startups, angel investing.
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