Hitachi Ventures collects a fund of $ 400 million to invest in everything from Fusion to AI

Hitachi Ventures provided $ 400 million for the fourth fund, the company told TechCrunch.

The size of the new fund is a vote of trust in a number of deep technological verticals. The scattered corporate VC portfolio imitates its limited partners, including energy, production, biotechnology and AI.

“We are open to other breakthrough opportunities,” said managing director and CEO Stefan Gabriel. “There are much around quantum, nuclear, life science, space technology. It’s not too wide – we have a clear look at what excites us in these areas. “

Hitachi Ventures It will continue to focus on Serie A. “This is still a sweet place,” said partner Gaitari Radhakrishnan. His first investment in a company will on average about $ 5 million, and the fund retains about 55% of its capital for subsequent opportunities, said partner and financial officer Wolfgang Seibold.

Although it bears its name from the Japanese conglomerate, Munich-based Hitachi Ventures is a little outer in the corporate VC World. It is more structured as a typical risk fund, Gabriel said, with Hitachi serving as solo LP. The Investment Committee is composed of the company partners and they should not make possible investments after their corporate branch, said Pete Bastien, a partner and president of the US company operations.

But the fund is still working closely with Hitachi, he added, in part, to help portfolio companies understand what a potential future client is looking for. Like other CVCs, Hitachi Ventures does not promise that it can ground transactions for portfolio companies, but can make key introductions.

“We can put you in front of Hitachi, but your product needs to be sold,” Radhakrishnan said.

And like other CVCs, Hitachi Ventures serves as a scout, Radhakrishnan said, searching the terrain to find smaller companies and technologies to meet their corporate partner’s business.

Hitachi Ventures previous investments cover a number of verticals. From the energy side, it has invested in recycling batteries Ascend ElementsStarting the Fusion Thea Energyand AlreadyWaste company leads to energy. His investments in AI are prone to workplace applications including Emwhich focuses on the working processes of enterprises; Strikereadywhich covers cybersecurity; and Manufacturerswhich uses AI to improve supply chains.