Panasonic Corporation is to launch a new corporate venture capital arm, in April 2017.
Based in California, Panasonic Ventures, LLC, will invest in startup companies mainly in the United States.
Led by Masahiro Kinoshita, Panasonic Ventures will lead Panasonic’s investments in startups having unique business models or products and services not bound by the company’s existing business fields. Through these investments, as well as collaborating with these companies to explore new business opportunities, the electronic corporation aims to create new businesses that will drive its future growth.
Panasonic has invested in Silicon Valley based startups with innovative technologies for nearly 20 years since 1998.
Panasonic Ventures’ initial endowment is approx. $100m.
Founded in 1918, Panasonic Corporation is today a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. The company now operates 474 subsidiaries and 94 associated companies worldwide, recording consolidated net sales of 7.553 trillion yen for the year ended March 31, 2016.