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Pegasus Tech Ventures Launches US $100 Million Fund with Denka Company Limited
Multinational chemicals company chooses leading Silicon Valley venture firm to drive investments in innovation
SAN JOSE, Calif., January 26, 2023-- Pegasus Tech Ventures ("Pegasus"), a global venture capital firm that is headquartered in the Silicon Valley and dedicated to supporting corporate innovation, has established a $100 million corporate venture capital fund with Denka Company Limited ("Denka"), a major Japanese chemicals, materials science, and life science company.
The new fund marks the entry of the 107 year-old chemical company into the corporate venture capital ecosystem, and it strengthens Pegasus' position as the leading venture capital firm providing "Venture Capital-as-a-Service", with over US $2 billion assets under management, to multinational corporations and family offices.
Denka, established in 1915, provides chemical products that are essential to contemporary society and critical to a wide variety of industries, including electronics, ICT, batteries, pharmaceuticals, and many other key sectors that are shaping the future. Through this fund with Pegasus, Denka will seek new technologies and business opportunities to advance its growth in ICT, Energy, Healthcare, and Sustainable Living by investing in startup that are developing cutting-edge innovations. The fund will invest in startups across several geographies, including the US, Europe, Israel, and Asia.
"We are excited to partner with Pegasus as we work to advance our innovation activities globally," said Toshio Imai, President and CEO of Denka, "We value the experience that Pegasus brings working across many cultures, including Japan, the US, and Europe, and the expertise that Pegasus brings facilitating corporate innovation by investing in strategic technologies that can be valuable to Denka."
Mr. Imai went on to say, "We will make good use of Pegasus' extensive global network and deep technology knowledge to realize our 2023-2030 management plan, Mission 2030. Through our partnership, we will create new businesses and expand existing businesses to stay on top of the rapidly changing times."
Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, commented, "Pegasus is the global leader as a venture capital firm focused on managing corporate venture capital funds. We now manage over 30 strategic funds with our corporate partners. We look forward to working with Denka to achieve the company's visionary Mission 2030 management plan by connecting Denka with top-tier technology startups worldwide."
About Denka Company Limited
Denka is a chemical manufacturing company centered around organic materials, inorganic materials, materials for electronics, high functional products and pharmaceuticals. Since its founding in 1915, Denka has worked to contribute to social development and win the trust of society through manufacturing operations centered on chemical engineering. Having celebrated its centennial year in 2015, Denka is accelerating its global business strategy to drive responsible growth.
For further details, please view https://www.denka.co.jp/eng/.
About Pegasus Tech Ventures
Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley with over $2 Billion in assets under management. Pegasus offers intellectual and financial capital to emerging technology companies around the world. In addition to offering institutional investors a top-tier venture capital investment approach, Pegasus also offers a unique Venture Capital-as-a-Service (VCaaS) model for large, global corporations that wish to partner with cutting-edge technology startups. Some of the 35+ corporate partners that have partnered with Pegasus include ASUS, Aisin, SEGA, Sojitz, and NGK Spark Plugs. Pegasus has invested in over 250 companies around the world, including SpaceX, Twitter, Airbnb, SoFi, Doordash, 23andMe, Color, Carbon, and many more.
For more information about Pegasus, please check out https://www.pegasustechventures.com.
Pegasus also founded and sponsors Startup World Cup, one of the biggest and richest startup competitions in the world. Startup World Cup extends to over 50 countries across six continents, with a Grand Finale in Silicon Valley featuring a $1 million investment prize. The goal of Startup World Cup is to support regional innovation ecosystems around the world and connect them to Silicon Valley.
For more information about Startup World Cup, please check out www.startupworldcup.io.