SPARX group to establish “Mirai Creation Fund III”

Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation to Provide Capital Again Targeting Total Commitments of ¥100.0 Billion

SPARX Group Co., Ltd. (“SPARX”) has established the Mirai Creation Fund III (“Fund III”). The two seed LPs for the Mirai Creation Fund II (“Fund II”), Toyota Motor Corporation (“Toyota”) and Sumitomo Mitsui Banking Corporation (“SMBC”), are to participate again as initial investors in Fund III. In addition to the five (5) categories of Intelligent Technology (e.g. artificial intelligence), Robotics, Technologies for a Hydrogen-Powered Society, Electrification, and New Materials that Fund II (formed in October 2018) focused on, the Mirai Creation Fund III mandate also will include global companies that provide solutions that promote carbon neutrality.

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An outline of the new fund is listed below.

Basic Principles

• To help accelerate innovation by investing in enterprises that possess technologies capable of leading growth for future generations
• To build a portfolio of promising businesses, and realize the potential of technologies and ideas that can transform the future by promoting them on a global scale
• To contribute to a sustainable future by promoting carbon neutrality

Target Technology Areas

• Fund III aims to invest in companies and projects to boost innovation within the following six (6) core technology areas: 1) Intelligent Technology (e.g. artificial intelligence), 2) Robotics, 3) Technologies for a Hydrogen-Powered Society, 4) Electrification, 5) New Materials, and 6) Carbon Neutrality.

Summary

• With SPARX Asset Management Co., Ltd., a subsidiary of SPARX, acting as Fund III’s fund manager and with an initial commitment from Toyota, SMBC, and SPARX totaling approximately ¥15.0 billion, Mirai Creation Fund III investment activities are scheduled to begin from October 2021.
• The fund will be open to new LPs until around the end of March 2022, targeting a total of ¥100.0 billion in commitments.