Hitachi Ventures provided $ 400 million for a fourth fund, the firm told Techcrunch exclusively.
The size of the new fund is a vote of trust in a range of deep technology verticals. The widespread VC corporate portfolio imitates that of his limited partner, including energy, production, biotech and he.
“We are open to other opportunities of progress,” said Managing Director and CEO Stefan Gabriel. “There is a lot about quantum, core, life science, space technology. Not too wide – we have a clear view of what excites us in these areas.”
Hitachi Ventures will continue to focus on series A. investments “This is still a sweet place,” said partner Gayatri Rrukrishnan. Its first investments in a company will on average about $ 5 million, and the fund is reserving about 55% of its capital for the next opportunity, said partner and CFO Wolfgang Seibold.
Although it takes its name from the Japanese conglomerate, the Munich -based Hitachi Ventures is a little farthest in the VC corporate world. Structured more structured as a typical venture fund, Gabriel said, with hitachi serving as Solo LP. The Investment Committee is made up of firm partners, and they do not have to develop potential investments that pass its corporate associate, said Pete Bastien, partner and president of the US firm operations.
But the fund is still working closely with Hitachi, he added, in part to help portfolio companies understand what a potential future customer is looking for. Like other CVCs, Hitachi Ventures does not promise that there may be agreement for portfolio companies, but can make key presentations.
“We can put you in front of the hitachi, but your product has to sell it yourself,” said Rutakrishnan.
And like other CVCs, Hitachi Ventures serves as a scout, said Rutakrishnan, cleaning through the fields to find smaller companies and technologies that fit its corporate partner businesses.
Hitachi Ventures previous investments include a vertical set. On the power side, it has invested in battery climbing elements, FUSION STARUP THEA ENERGY, and WASEE, a sewage company in energy. His investments have tended towards applications in the workplace, including EMMA, which focuses on the workflow of enterprises; Strikeready, which covers online security; and Makersite, which he uses to improve the supply chains.
