Mitsubishi Electric Corporation announced today that it has invested as an anchor limited partner (LP) in the AT PARTNERS III L.P. fund, which employs a fund-of-funds approach to make diversified investments in leading overseas venture capital (VC) firms. Through this investment, Mitsubishi Electric aims to strengthen its open innovation with startups and accelerate the creation of new businesses in response to rapidly evolving market conditions and technological advancements.
Tokyo-based AT PARTNERS Inc. invests in venture capital funds across the United States, Europe, and Israel. Leveraging its proprietary corporate analysis data platform, the company efficiently gathers and analyzes information on high-potential overseas startups, offering Japanese corporate investors valuable opportunities for strategic collaboration. AT PARTNERS III L.P. is the third fund managed by AT PARTNERS.
Mitsubishi Electric expects to strengthen its business-creation initiatives by leveraging AT PARTNERS’ global startup ecosystem network and also its expertise and knowhow in open innovation. Mitsubishi Electric will also continue to collaborate with startups in its existing business domains to further expand and advance its businesses through open innovation.
Source: Business Wire