Chemical giant Denka dives into VC with $100 fund managed by Pegasus Tech

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Pegasus Tech Ventures, a Silicon Valley-headquartered enterprise capital agency that helps companies make investments in startups, said it has arrange a $100 million fund with Japanese chemical and life science firm Denka. 

Denka, a 107-year-old agency, is the only real restricted companion of the newly established company enterprise capital fund and in line with its 2030 mission, is in investing in startups that handle urgent international points, together with sustainability and inhabitants progress.

Pegasus Tech at present manages more than 30 strategic funds, or CVC funds, via partnerships with giant international companies in Japan, Taiwan, Indonesia, Europe and the U.S., said founder and chief executive of Pegasus Tech, Anis Uzzaman. These company companions — moshtly in the manufacturing sector, like industrials, chemical substances, and pharma — wish to put capital in startups to include superior applied sciences into their core enterprise, Uzzaman told TechCrunch. 

Pegasus Tech will assist Denka more particularly seek for early- to late-stage startups in renewable energy, EV batteries, chips, and health tech. According to Uzzaman, test sizes will vary from $500,000 to $1 million for early-stage startups and $2 million to $10 million for later-stage firms. 

After a candidate is focused for funding, Denka plans to have a group work with Pegasus on validating the startup’s thesis. Still, Pegasus will make the final choice on investments, Uzzaman said. Indeed, a gaggle of companions at Pegasus, together with Uzzaman, and funding managers Bill Reichert, Steve Payne, John Lim and Justin Jackson shall be closely concerned in the operations of this fund, Uzzaman added. 

Pegasus has centered on connecting corporates and startups to leverage its “VC as a service” mannequin since its inception in 2011, and has invested in more than 250 startups up to now and has more than $2 billion in belongings under administration. 

Other companions the VC agency has labored with embrace Sega, the video game and leisure firm; Japanet, a tv buying firm; NGK Spark plugs, a Japan-based maker of automotive spark plugs; Asus, a Taiwan-headquartered laptop {hardware} firm; Aisin, a Japan-based automotive agency; Bandai Namco, an leisure firm; Kalbe, an Indonesia-based pharmaceutical agency; and Sinar Mas, an Indonesian conglomerate.  

NGK Spark Plugs launches $100M company enterprise fund, will search M&A alternatives

Chemical giant Denka dives into VC with $100 fund managed by Pegasus Tech by Kate Park initially printed on TechCrunch


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