The Marunouchi Climate Tech Growth Fund L.P. has been established in partnership with Mitsubishi Corporation and Pavilion Private Equity Co., Ltd., according to the largest bank in Japan, MUFG Bank.
The fund, which started with $400 million, is aiming for a fund size of $800 million to $1 billion, according to a statement from MUFG.
The fund’s general partner is Marunouchi Innovation Partners Co., Ltd., and it will primarily make growth investments in startups dealing with climate technology.
In the area of climate technology, MUFG stated that in order to achieve a society free of carbon emissions, a variety of cutting-edge technologies must be developed and solutions must be widely disseminated. Over the medium to long term, a high demand for financing is anticipated.
The fund seeks to commercialize and spread cutting-edge technologies owned by investees while boosting their corporate value and aiding in the resolution of issues related to climate change through growth investments in startups in the climate-tech sector.
Innovative technologies and customers’ efforts to reduce carbon emissions have been supported by MUFG Bank.
Through the Fund, the company will collaborate with its principal sponsor, the Mitsubishi Corporation Group, other participating investors, and other industry experts and business networks to seize investment opportunities and foster the expansion of investee companies.
The top bank in Japan, MUFG, has a global network that extends to about 50 different nations.
The bank provides a wide range of commercial and investment banking goods and services to organizations, nations, and people outside of Japan.
One of the top financial conglomerates in the world, Mitsubishi UFJ Financial Group, Inc. (MUFG) is the parent company of MUFG Bank.
With its global headquarters in Tokyo and more than 360 years of history, MUFG has over 2,100 locations spread across more than 50 nations.
The company employs about 160,000 people and provides services like leasing, asset management, commercial banking, trust banking, securities, credit cards, and consumer finance.
On the Tokyo, Nagoya, and New York stock exchanges, MUFG shares are traded.