AP Ventures welcomes the Mirai Creation Fund II as a new investor
• AP Ventures invests in advanced technology companies which tackle global environmental and sustainability challenges;
• AP Ventures has an existing portfolio of investments with a focus on the hydrogen value chain and fuel-cell electric mobility;
• The Mirai Creation Fund II joins Anglo American Platinum, Mitsubishi Corporation and The Public Investment Corporation as an investor in AP Ventures.
London, United Kingdom, 9 July 2019 - AP Ventures today announces that the Mirai Creation Fund II (Mirai Creation Fund) has become a Limited Partner in AP Ventures Fund II.
AP Ventures investment strategy is focused on companies developing technologies in the hydrogen value chain, fuel-cell electric mobility and energy storage markets which are dependent upon the high-performance characteristics of Platinum Group Metals.
There is considerable common interest between AP Ventures and the Mirai Creation Fund, backed by Toyota Motor Corporation as a key limited partner, which focuses on investing in businesses which are integral to promoting a hydrogen-based economy.
In welcoming the Mirai Creation Fund as our fourth Limited Partner, AP Ventures and its portfolio companies look forward to benefitting from working with a partner which has similar investment themes and a complementary global investment portfolio. AP Ventures has an exceptionally strong group of investors represented by Anglo American Platinum with its position in the Platinum Group Metal markets, the South African Public Investment Corporation (PIC) with strong experience of global investment, and Mitsubishi Corporation which brings significant industrial scope and a commitment to develop new strategic activities.
Commenting on the investment by the Mirai Creation Fund, Andrew Hinkly, Managing Partner, AP Ventures said:
“We are delighted to welcome the Mirai Creation Fund as an investor in Fund II. We are excited by the opportunity to work with a team with such an established track record in the market place, I see much value in this partnership. Our strategic investors’ expertise together with our experience and industry network allows us to provide our portfolio companies with a unique combination of investment and development opportunities. In addition, this partnership is invaluable as we assess our strong pipeline of new opportunities for Fund II.”
Commenting on today’s announcement Masatoshi Fukami, Representative Director, Executive Deputy President, for the Mirai Creation Fund said:
“In today’s environmentally-challenged society, it is essential to identify and nurture advanced technologies that address our global environmental and sustainable issues. Working closely together with AP Ventures and the Limited Partners, we hope to contribute towards the development of an innovative hydrogen society.”
AP Ventures LLP Investor relations
About AP Ventures
AP Ventures is a venture capital fund headquartered in London. The Fund operates a global mandate to invest in pioneering new technologies and businesses which solve global challenges such as renewable energy integration, resource scarcity and a growing population.
Focus areas include: the hydrogen value chain; fuel-cell electric mobility; energy storage platforms; water treatment solutions; sensors; durable electronics; and biomedical devices.
The existing portfolio includes investments in Altergy Systems, Food Freshness Technology Holdings, ERGOSUP, Greyrock Energy, High-Yield Energy Technologies, Hydrogenious Technologies and United Hydrogen Group. All these companies either utilise or enable the use of Platinum Group Metals (PGMs).
AP Ventures is led by Andrew Hinkly (Managing Partner) and Kevin Eggers (Partner). Investors include Anglo-American Platinum, the Mirai Creation Fund, Mitsubishi Corporation and The Public Investment Corporation.
More info: www.apventuresllp.com
About Mirai Creation Fund I and Mirai Creation Fund II
The Mirai Creation Fund I began operations in November 2015 with financing amounting to roughly JPY13.5 billion from three companies: Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and SPARX, the Fund's general partner. Ultimately, the Fund received contributions from 20 companies, including the above three. Seeing intelligent technologies, robotics, and technologies that promote a hydrogen economy as core technologies of the future, Fund I has invested in approximately 50 companies and projects from the US, the UK, Israel, Singapore, and Japan that possess innovative technologies in these fields. In H2 2018, SPARX began managing the Mirai Creation Fund II, which targets the three existing Mirai Creation fields, along with the two additional domains of electrification and new materials. As of April 30, 2019, the combined AUM for Funds Ⅰ(one) and Ⅱ(two) are 109.3 billion.
Mirai Creation investment track record: https://mirai.sparx.co.jp/investment/
About SPARX Group
SPARX Group is one of the largest independent asset management groups in Asia with the vision: "To become the most trusted and respected investment company in the world". SPARX Group’s long-term goal is to become the “Center for Asia Investment Intelligence.” We have worked to contribute to society by developing its core investment business model and growing its client's assets through an innovative and cutting-edge investment style.
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