<article>Japan-headquartered automotive parts manufacturer <a href="http://www.dealstreetasia.com/tags/AISIN%20Group">AISIN Group</a> is partnering with Silicon Valley-based <a href="http://www.dealstreetasia.com/tags/Fenox%20Venture Capital">Fenox Venture Capital</a> (Fenox VC) to launch a $50-million venture capital fund focused on automotive technology startups.</article>

Japan-headquartered automotive parts manufacturer <a href="http://www.dealstreetasia.com/tags/AISIN%20Group">AISIN Group</a> is partnering with Silicon Valley-based <a href="http://www.dealstreetasia.com/tags/Fenox%20Venture Capital">Fenox Venture Capital</a> (Fenox VC) to launch a $50-million venture capital fund focused on automotive technology startups.
Fenox VC will manage the strategic fund as a General Partner while AISIN will be investing as a corporate venture capital limited partner.
&#8220;This partnership with Fenox VC will serve as a gateway for AISIN Group to access the top technology startups through Fenox VC&#8217;s global network, collaborate with world-class automotive-related technology startups, and provide access to the greater Asian and global markets,&#8221; Fenox VC said in a statement.
The new fund will target startups in automotive-related technologies, such as autonomous driving, zero-emission, connected vehicle, artificial intelligence, IoT, AR/VR, and others that require hardware-software collaboration, Fenox VC said in a statement.
&#8220;Through the fund, the AISIN group will not only invest in top technology startups but also plans to build strong partnerships with them for further technology development and business expansion,&#8221; said Anis Uzzaman, General Partner, Fenox VC.
Established in 1965, AISIN Group is an automotive parts maker with yearly revenues of $50 billion. It supplies parts to Toyota, Nissan, and Volkswagen. Toyota is also one of its major shareholders.
Last December, Fenox VC had led a $2.6-million round in Japanese business mobile communication solutions firm AOS Mobile Co.
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The new fund will target startups in automotive-related technologies such as autonomous driving, zero-emission and connected vehicle.

Japan's auto parts maker AISIN partners Fenox to launch $50m VC fund

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