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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Toyota Motor Corporation has established a new subsidiary, Toyota Invention Partners (TIP), dedicated to investing in early-stage startups.
According to a report by Nihon Keizai Shimbun on the 30th, TIP will commence operations on October 1. Over the next five years, the subsidiary plans to invest a total of 100 billion yen (approximately USD 950 million) in early-stage startups while also building strategic partnerships.
In a separate initiative, Toyota’s corporate venture capital arm, Woven Capital, has launched its second fund with a scale of USD 800 million (approximately KRW 1.1 trillion). This new fund will target startups specializing in cutting-edge fields such as artificial intelligence (AI) and automation technologies.
Woven Capital, established in 2021, previously raised its first USD 800 million fund, through which it has invested in 18 companies to date.
알파경제 Kim Jisun Reporter(stockmk2020@alphabiz.co.kr)
