Sony is going to double its investment in startups. The Japanese technology giant announced the creation of a new fund, which aims to raise $20 billion to invest in companies in “key fast-growing industries.”
Initially, the fund was launched in 2016, but now Sony decided to expand it significantly. Now it will be managed jointly with Daiwa Capital Holdings – the venture division of investment bank Daiwa Securities.
According to Sony, several dozens of investments were made in the previous fund, and now they want to write larger receipts to new technological startups.
“We believe that the integration of Sony’s insight of cutting-edge technologies and Daiwa Securities Group’s expertise in finance will lead to the creation of a new kind of venture capital business while providing the spark for new trends in the venture capital ecosystem,” Yoshihisa Kaneko, executive managing director of Daiwa Securities, said in a statement.
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