New $1 Billion Venture Capital Fund Launched by Renault-Nissan-Mitsubishi
Posted on Jan 18, 2018
Renault Nissan Mitsubishi, the largest automotive consortium worldwide, has announced, the launch of a new strategic fund called Alliance Ventures.
The aim is to invest around $200 million each year in new mobility technology through a 5-year plan for a total of $1 billion. The fund will invest in high potential startups and open innovation companies focused on new technology including electric vehicles, vehicle connectivity, autonomous systems and other related services.
Carlos Ghosn, chairman and CEO of Renault-Nissan-Mitsubishi said: “Our open innovation approach will allow us to invest and collaborate with start-up companies and technology entrepreneurs, who will benefit from the global scale of the alliance. This new fund reflects the collaborative spirit and entrepreneurial mind-set at the heart of the alliance.”
Previously CEO of Nissan do Brazil Automoveis, François Dossa will lead the corporate fund co-located in Silicon Valley, Paris, Yokohama and Beijing. Alliance Ventures can rely on his 20-years of quality experience in the investment banking sector.
Ionic Materials, a US-based company, is about to be the first alliance’s investment. It’s developing solid-state electrolyte and cobalt-free batteries coinciding with the consortium’s vision to launch automobiles with high performance batteries in the market by 2022.
Rudy Tchikaya