SAN JOSE — Japanese electronics company TDK Corporation announced its subsidiary TDK Ventures Inc. has closed its second fund, totaling $150 million in new capital. The new fund will primarily target early-stage, global investments in clean technology, advanced materials, industrial, robotics, energy, autonomous vehicles, electric vehicles, and healthtech segments. TDK Ventures’ total assets under management is now $200 million.
(Photo above: TDK Ventures Team; Source: BusinessWire)
“This new fund renews our commitment to supporting hard-tech entrepreneurs creating innovations for the greater good,” said Nicolas Sauvage, Managing Director, TDK Ventures. “The materials science field has always been part of the technology sector’s foundation, and as such, it can help the sector address some of the world’s biggest challenges, including sustainability.”
The close of TDK Ventures Fund II follows the success of Fund I, the firm’s inaugural $50 million fund that has seen three exits in the CVC’s first 18 months of operation. These include the oversubscribed IPO for energy cell company GenCell (TASE: GNCL); laser manufacturer SLD Laser’s acquisition by KYOCERA Corporation (TYO: 6971); and 3D printing startup Origin’s acquisition by Stratasys (Nasdaq: SSYS) in a $100 million transaction.
“With these three liquidity events so soon after its launch, TDK Ventures has seen one of the fastest ascents ever for a corporate venture capital fund,” said Paul Holland, General Partner in Residence, TDK Ventures and Managing Director, Mach49 — a growth incubator for large corporations, which served as an advisor to the design and launch of TDK Ventures. “TDK Ventures adopted a Silicon Valley entrepreneurial approach to find and fund digital and energy transformation startups poised to improve the lives of billions.”
“TDK is dedicated to accelerating fundamental materials science technologies that can unlock megatrends across sectors. TDK Ventures believes in advancing technology for a sustainable society and the well-being of all people,” said Shigenao Ishiguro, President and Chief Executive Officer, TDK Corporation.
TDK Ventures has built a reputation for investing in materials science and hard technology companies and will continue to renew research and investment in these areas with this new capital. In the last 21 months, TDK Ventures has made 16 investments, backing companies like Starship Technologies, Wheels and Autoflight in the mobility space, Genetesis and Exo in the healthtech space, SLD Laser and Metalenz in advanced materials, Agility Robotics in the robotics industry, and more.
By the end of the Fund II investing cycle over the next three years, TDK Ventures will build a portfolio of 50 early-stage companies. TDK Ventures has a global scope and can help its portfolio companies with differentiated access to international markets, talent, and introductions to customers, helping them raise their next round of financing and long-term partnerships that can help grow companies for decades to come, coined “TDK Goodness.”
With an office in San Jose, TDK Ventures recently opened an additional office in Boston.