TDK Ventures Set To Invest In Energy, Climate Tech Startups

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The fund’s name, Fund EX1, stands for energy transformation and it is TDK Ventures’ first multi-LP fund

TDK Corporation recently announced that its subsidiary, TDK Ventures Inc. will launch its third fund, totaling $150 million in new capital. The press release mentioned that the new fund will target early-stage investments in energy transition, electrification, and decarbonization within the U.S. and Europe. The fund’s name, Fund EX1, stands for energy transformation and it is TDK Ventures’ first multi-LP fund. The company highlighted the fact that the launch of this fund marks its foray into Europe and it will add a team there soon. Notably, TDK’s Hong Kong-based lithium-ion rechargeable batteries specialist, Amperex Technology Limited (ATL) will be a limited partner to Fund EX1. TDK Ventures’ total assets under management are now $350 million.

President and CEO of TDK Corporation, Noboru Saito opined that the pivotal role that energy transformation needs to play in our collective efforts must be recognized as the world strives to build a sustainable future for all. “With this new funding, we are doubling down on our efforts to contribute toward innovations in electrification and decarbonization, as these two areas are helping to solve society’s toughest problems. By nurturing the innovative spirit of startups around the world and by providing TDK Goodness to the ecosystem, we hope to contribute to a world where energy transformation drives humanity toward a brighter, more sustainable tomorrow in harmony with our environment,” Saito added.

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Executive VP of Amperex Technology Limited, Joe Kit Chu Lam said, “ATL is pleased to join Fund EX1 in its mission to support a greener energy transformation and contribute our part to decarbonization by supporting innovative ecosystems and startups around energy generation and energy storage.”

TDK Ventures President, Nicolas Sauvage remarked, “Fund EX1 bolsters our conviction in supporting entrepreneurs who are creating pioneering technologies in the energy transformation and decarbonization sectors. Foundational improvements in materials science, advanced manufacturing, and scale-up are the key to translating innovations developed in academic laboratories towards commercial reality. Our commitment to early-stage innovative startups in climate tech is poised to help accelerate our world toward carbon neutrality.”

While the company has team members in San Jose, Boston, Tokyo, and Bengaluru, TDK Ventures plans to soon add a team in Europe.

Tokyo-based TDK Corporation is a leading global player in electronic solutions built on a foundation of material sciences. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.

2019-born TDK Ventures Inc. is a wholly-owned subsidiary of TDK Corporation and aims to invest in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios.


 

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