Japan’s Mitsui-backed Magenta Venture launches $100m fund for Israeli startups

A woman walks past the headquarters of Japanese general trading company Mitsui & Co., Ltd. in Tokyo July 9, 2009. REUTERS/Stringer

Israeli venture capital firm Magenta Venture Partners – a partnership between Tokyo-based Mitsui & Co and two Israeli VCs –  has launched a $100-million early-stage fund targeting Israeli tech startups, according to an official release.

The new fund will focus on multiple domains including automotive, mobility, AI, smart cities, Industry 4.0, enterprise software and fintech.

The four partners in the fund include Ori Israely formerly of Motorola Solutions Venture Capital and Giza Venture Capital, Hiroshi Takeuchi of Mitsui, Ran Levitzky, formerly from Viola Ventures and  Atsushi Mizuno from Mitsui’s investment arm.

“Our fund is a financially focused, but we look to invest in startups that not only look for capital but also seek value driven by the team’s experience in Japan, EU and the USA. We also leverage our investors to analyze and validate investments, assist the portfolio, and help all the startups we engage during this process,” said Israely.

“Investors in Magenta Venture Partners include Mitsui & Co. Ltd. and Koito Manufacturing Co. Ltd. who are looking to work with the fund to identify innovative technologies in Israel,” said Hiroshi Takeuchi – Managing General Partner.

Founded in 1947, Mitsui & Co., Ltd. operates as a general trading company worldwide. The firm recently was said to be in talks to acquire suburban Brazil railway company SuperVia SA after a key creditor, state-owned development bank BNDES, blocked other offers for the company.

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