Mirai Creation Fund invests in a venture capital fund located in London
TOKYO: SPARX Group Co., Ltd. has announced that its Mirai Creation Fund II—established in July 2018—has invested in AP Ventures, an venture capital fund with extensive experience investing in hydrogen technology.
AP Ventures invests in advanced technology companies which tackle the global environmental and sustainability challenges. It primarily focuses on hydrogen technology, and its portfolio includes several Western start-ups involved in the hydrogen value chain, FCVs, hydrogen storage, and more.
AP Ventures' managing partner, Andrew Hinkly, has leveraged his experience in the automotive and mining industries to build a considerable network of hydrogen-related contacts. Through this investment in the AP Ventures fund, Mirai Creation hopes to considerably expand Fund II's investment in technologies that promote a hydrogen economy, while also earning investment returns.
The Mirai Creation Fund I began operations in November 2015 with financing from three companies: Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and SPARX, the Fund's general partner.
Ultimately, the Fund received contributions from 20 companies, including the above three.
Placing intelligent technologies, robotics, and hydrogen-economy technologies as core technologies of the future, Fund I has invested in approximately 50 companies and projects—from the US, the UK, Israel, Singapore, and Japan—that possess innovative technologies in these fields.
In H2 2018, SPARX began managing the Mirai Creation Fund II, which targets the three existing Mirai Creation fields along with the two additional areas of electrification and new materials. As of May31, 2019, the combined AUM for Fund I and Fund II is ¥109.3 billion.