SAN JOSE, Calif.--(BUSINESS WIRE)--AISIN Group, a global automotive components and systems manufacturer, is launching a USD 50 million venture fund with US Silicon Valley-based Fenox Venture Capital. Fenox VC will manage this strategic fund as a General Partner, and AISIN Group will be investing as a corporate venture capital Limited Partner. This partnership with Fenox VC will serve as a gateway for AISIN Group to access the top technology startups through Fenox VC’s global network, collaborate with world-class automotive related technology startups, and provide the startups with access to the greater Asian and global markets.
“This is the right timing for AISIN to find the cutting-edge technology in the automotive space, and we are happy to have Fenox VC be the partner to lead the new venture for us,” said Naofumi Fujie, Executive Vice President who is in charge of R&D in AISIN. “Fenox VC has the global access and knowledge to get us to where we want to be in the future.”
“Fenox VC plays a vital role as the bridge between global startups and both large public and private enterprises from around the world. We have been creating win-win partnerships between startups and global enterprises,” said Anis Uzzaman, General Partner and CEO of Fenox Venture Capital. “We are excited to invest in top startups from this strategic fund and support technology collaboration with AISIN Group.”
The goal of this fund will be to identify the top Silicon Valley technology, and further nurture it through Fenox VC and AISIN’s network, eventually spreading through the global markets. This new fund will target startups in the areas of automotive related technologies, such as autonomous driving, zero-emission, connected vehicle, artificial intelligence, IoT, AR/VR, and more that require hardware-software collaboration and the partnership will work as a bridge between the US and the Asian/global market, helping the entrepreneurship community as a whole.
About AISIN Group
AISIN is a Japan-based, multinational automotive parts manufacturing company that was established in 1965. Dedicated to creating products for automotive (drivetrain, body, brake and chassis, engine, information technology-related) and lifestyle (sewing machines, beds, gas heat pump products, etc.). The revenue in 2016 was more than 3.5 trillion Japanese yen (approximately 35 billion US dollars).
About Fenox Venture Capital
Fenox Venture Capital is a Silicon Valley-based venture capital firm, which has invested in more than 120 companies globally. Investment areas include IT, Health IT, Artificial Intelligence, IoT, Robotics, Big Data, VR/AR, FinTech, and Next Generation Technologies. Fenox VC leverages its global network spanning the US, Asia, and Europe to support the global expansion of its portfolio companies. Read more about Fenox Venture Capital at www.fenoxvc.com