Japanese investors back Canadian VC Pangaea Ventures’ $80m fourth fund

Canadian investment firm Pangaea Ventures has launched its fourth venture capital fund and has secured roughly half its $80 million target.

In a recent statement, the Vancouver-based clean-tech investor said Pangaea Ventures Fund IV has  secured roughly half its C$105 million ($80 million) target.

The latest fund has seen the induction of three new strategic LPs including German firm Henkel Corp, US-based Lam Research Corp and Sekisui Chemical Co of Japan.

Its earlier LPS, including two Japanese firms JSR Corp and Mitsubishi Chemical Holdings Corp and US-based CoorsTek, also participated in the investment.

Back in May 2012, the firm announced the first close for its third fund, having attracted the initial $50m towards the $100m target, however it did not disclose when the final close was achieved and if it met its target.

LPs in Fund III were dominated by Japanese corporations like Asahi Glass, Asahi Kasei Innovation Partners, JSR Corporation, Mitsubishi Chemical Holdings Corporation, Murata Manufacturing and Nitto Denko Corporation. The other investors included nv Bekaert sa, 9th Street Investments, and SABIC Ventures.

Pangaea was founded in 2001 by General Partner Chris Erickson, formerly a partner at Osler, Hoskin & Harcourt LLP.  It invests in startups with technologies addressing four key sectors including energy, electronics, health and sustainability. It prefers to hold significant minority stakes in companies and maintain those stakes over all stages of financing.

According to the company’s website, the investment  has offices in Vancouver and New Jersey give it a broad geographic reach across North America. Also, its global Strategic Limited Partner relationships in Asia, Europe, and the Middle East provides portfolio companies to access global markets, supply chains, and manufacturing opportunities.

Its websites shows a portfolio of a dozen companies including advanced-composites specialist Airborne, carbon dioxide utilisation platform CarbonCure, ESS, a long-duration battery system, radiation imaging company Redlen, and Vestaron, a biological insecticide developer.

Also Read:

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Japan: AGC Asahi Glass to acquire CMC Biologics in $510m deal

Russia-Japan to set up $1b fund, to invest in pharma, energy

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.