Investment in a US venture capital fund
- Accelerating the initiatives for creating new businesses through co-creation with start-up companies -
Furukawa Electric Co., Ltd. (Head office: 2-6-4 Otemachi, Chiyoda-ku, Tokyo; President: Hideya Moridaira) has invested in a fund operated by Silicon Valley-based venture capital firm Allegis Capital. This investment aims to create new businesses by strengthening the group’s technology and proposal capabilities.
Directed at achieving the “Furukawa Electric Group Vision 2030”, we are preparing a foundation for creating new businesses. When creating new businesses, increasing the chances to take on new challenges in the priority domains and implementing initiatives for increasing the probability of success are necessary in order to acquire profit growth opportunities.
We will strengthen our creation of new businesses centered on co-creation with US start-up companies mainly in Silicon Valley. To date, we have explored trends in markets and cutting edge technologies through SVIL (Silicon Valley Innovation Laboratories, Furukawa Electric) established in Silicon Valley in 2018, as well as actively promoted open innovation with Plug and Play Silicon Valley, the largest local accelerator company, and research institutions including Massachusetts Institute of Technology and Stanford University. Going forward, through the new participation in the investment fund, we will actively and fully utilize the network of start-up and partner companies and further enhance our group’s technology and proposal capabilities by generating innovation in the growing data center product market and in the priority domains including life sciences and social infrastructure DX. Through the creation of new businesses, we will continue to take on new challenges.
Allegis Capital
Allegis Capital is a venture capital firm founded in 1996 that focuses on investments in a wide range of domains including digital transformation, fintech, enterprise software and climate tech. Over the past 25 years, Allegis Capital has developed an extensive network in Silicon Valley, and the firm is also highly regarded by multiple media outlets in the United States.
Furukawa Electric Group’s efforts towards the SDGs
Based on the “Sustainable Development Goals (SDGs)” adopted by the United Nations, Furukawa Electric Group has formulated the “Furukawa Electric Group Vision 2030” which sets the year 2030 as its target and is advancing efforts with the aim to “Build a sustainable world and make people’s life safe, peaceful and rewarding, Furukawa Electric Group will create solutions for the new generation of global infrastructure combining information, energy and mobility.” Toward the achievement of our Vision 2030, we will take open, agile, and innovative approaches to promote ESG management that aims to increase corporate value over the medium to long term and will contribute to the achievement of the SDGs.
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