Japan’s Sumitomo Corporation announced that its CVC arm, Sumisho Venture Partners (SVP), has launched a new 10 billion yen ($63 million) fund, including existing assets under management.
The announcement says the vehicle will back startups in Japan while targeting both strategic synergies within the group and financial returns, as SVP looks to scale up its investment activities.
By adopting a fund structure, SVP will promote startup investment activities from a more medium- to long-term perspective and increase investment amounts per deal, thereby enabling lead investments and active involvement in portfolio company management.
Through these changes, SVP aims to strengthen collaboration with portfolio companies further, foster a corporate culture that leverages insights from both internal and external sources, and enhance its innovative business-building capabilities.
Moving forward, SVP will further promote investment in and business co-creation with startups, focusing on growth areas such as digital, AI and deep tech, while leveraging the Sumitomo Corporation Group’s business expertise and network.
Including the Fund, the Sumitomo Corporation Group will operate CVC assets under management of approximately $450 million globally.
