California, USA-based TDK Corporation’s subsidiary TDK Ventures Inc. launched its third fund of USD 150 million, Fund EX1. The company announced the launch on May 19, 2023.
Amperex Technology Limited (ATL), TDK’s Hong Kong-based lithium-ion rechargeable batteries specialist, is a limited partner to Fund EX1.
Purpose of the fund by TDK Ventures
With the launch of the new fund, the company seeks to target early-stage investments in energy transition, electrification, as well as decarbonization sectors. However, it seeks to focus on regions such as the U.S.A and Europe.
So far, TDK Ventures’ total assets under management are now USD 350 million.
What the company’s official has to say
Noboru Saito, President and CEO of TDK Corporation, said, “As the world strives to build a sustainable future for all, we must recognize the pivotal role that energy transformation needs to play in our collective efforts. With this new funding, we are doubling down on our efforts to contribute toward innovations in electrification and decarbonization. These two areas are helping to solve society’s toughest problems. By nurturing the innovative spirit of startups around the world and by providing TDK Goodness to the ecosystem, we hope to contribute to a world where energy transformation drives humanity toward a brighter, more sustainable tomorrow in harmony with our environment.”
In addition, Nicolas Sauvage, President, TDK Ventures, said, “Fund EX1 bolsters our conviction in supporting entrepreneurs who are creating pioneering technologies in the energy transformation and decarbonization sectors. Foundational improvements in materials science, advanced manufacturing, and scale-up are the key to translating innovations developed in academic laboratories towards commercial reality. Our commitment to early-stage innovative startups in climate tech is poised to help accelerate our world toward carbon neutrality.”
Sauvage further continued, “The expertise of our anchor LPs in electrochemical technologies, advanced manufacturing, and scale-up will allow us to bring these startups strong technical expertise. It will further help them to access global markets where TDK operates.”
What the partner has to add
Joe Kit Chu Lam, Executive Vice President, Amperex Technology Limited, further said, “We strive to be a premier global innovative technology company. We seek to make exceptional contributions to the green energy resolution for mankind. ATL is pleased to join Fund EX1 in its mission to support a greener energy transformation. We intend to contribute our part to decarbonization by supporting innovative ecosystems and startups around energy generation and energy storage.”
About TDK Ventures
Nicholas Sauvage in 2019 launched the company. TDK Ventures invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios.
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