Japanese chemical and life science company Denka established a $100M fund in partnership with venture capital firm Pegasus Tech Ventures.
Denka is the only limited partner in the fund. The fund will target early and late-stage startups in renewable energy, battery tech, chips, and health tech sectors.
- Denka established the fund to advance its 2030 mission of addressing global issues such as sustainability and population growth.
- The fund will invest between $500,000 to $1M in early-stage startups and between $2M to $10M in late-stage firms.
- Pegasus CEO Anis Uzzaman and partners Bill Reichert, Steve Payne, John Lim, and Justin Jackson will oversee the operations of this fund.
- Since 2011, major corporations — including Sega, Asus, Bandai Namco, and Aisin — across the U.S., Europe, Japan, Taiwan, and Indonesia have partnered with Pegasus to launch 30 strategic funds or CVC funds.
- Pegasus' "VC-as-a-service" model has helped the firm back 250 startups.
- It now has over $2B in assets under management (AUM).