Seiko Epson launches $46.5M startup fund

Seiko Epson’s Hino Office in Tokyo
CC BY-SA 3.0

Abridged from our original post on the Japanese edition.

Tokyo-based VC firm Global Brain announced today that it has launched a new fund in partnership with Epson X (pronounced ‘cross’) Investment, EXI for short, the investment arm of Japanese electronics giant Seiko Epson (TSE:6724). EXI holds a 99% stake in the fund worth 5 billion yen ($46.5 million US).

Epson Group unveiled a mid-range business plan towards their long-term corporate vision called Epson 25 last year, which addresses their open innovation strategy to leverage resources centered on the company’s flagship inkjet technology. The fund is a part of such efforts.

Image credit: Seiko Epson

In response to our question about what’s behind establishing the fund, Global Brain told us that Seiko Epson wants to push forward and accelerate their investment flows by separating business investment and corporate venture capital functions.

Our readers may recall that Global Brain recently announced a new fund in partnership with Japanese logistics giant Yamato Holdings.