London, United Kingdom, 12 December 2018: AP Ventures today announces that Mitsubishi Corporation has become a Limited Partner in AP Ventures Fund II.
AP Ventures is the first fund of its kind to invest in pioneering technologies and businesses that harness the unique high-performance characteristics of Platinum Group Metals (PGMs).
In welcoming Mitsubishi Corporation as our third Limited Partner AP Ventures and its portfolio companies will benefit from Mitsubishi’s significant industrial scope and its commitment to develop new strategic activities, including those related to the hydrogen economy. Together with Anglo American Platinum’s position in the precious metal markets, which provides competitive advantage for our companies, and the extensive fund management expertise of the South African Public Investment Corporation (PIC), AP Ventures has an exceptionally strong and complementary group of investors.
Commenting on the investment by Mitsubishi Corporation, Andrew Hinkly, Managing Partner, AP Ventures said:
“We are delighted to welcome Mitsubishi Corporation as an investor in Fund II. Even prior to the formal announcement we are already seeing the benefit of our relationship and look forward to developing a strong partnership between AP Ventures, Mitsubishi, Anglo American Platinum and the PIC.”
Technologies powered by PGMs are providing solutions to global challenges such as renewable energy integration, resource scarcity and a growing global population. AP Ventures is the only fund of its kind offering investors access to these innovative, fast-growing companies built on the unique properties of PGMs. Our experience and industry network combined with the support of our strategic investors, means we have a high performing portfolio of existing investments as well as a strong pipeline of new opportunities.”
Commenting on today’s announcement Yusaku Yukita, GM for Precious Metals, Mineral Resources Trading Division, Mitsubishi Corporation said:
“What AP Ventures has achieved so far, and sets out to achieve in future, is unique and very valuable to the industry. We believe that precious metals will play an instrumental role in providing solutions to the challenges our global society faces. To realise the full potential of these metals in addressing these challenges, efforts have to be orchestrated amongst the various industry players. Working closely together with AP Ventures and the Limited Partners, and by bringing the diverse capabilities of Mitsubishi Corporation, we hope to nurture the growth of innovative precious metals technologies that will help improve lives and the society we live in.”