Toyota Ventures, the early-stage venture capital arm of Japanese car giant Toyota, announced plans to invest $300 million in startups focusing on advanced technology and clean energy projects, boosting its capital asset commitment to over $800 million.
The investment will be split evenly between two global funds: Toyota Ventures Frontier Fund II (TVFF II) led by veteran angel investor David Sokolic and Toyota Ventures Climate Fund II (TVCF II) headed by Partner Lisa Coca.
Funds from TVFF II will be used to support international startups focused on emerging technologies such as AI, mobility robotics, cloud services, and quantum computing. It is expected to diversify the portfolio range of its predecessor, the initial TVFF, which invested in organizations such as satellite service operator Starfish Space, biosensor producer Scentian Bio, and quantum computing software developer Haiqu.
Meanwhile, TVCF II will focus on startups that develop smart, scalable, and sustainable clean energy solutions to combat climate change. Like its predecessor in 2021, TVFC II will invest in diverse solutions ranging from renewable energy, energy storage, and hydrogen, building on a portfolio that includes green hydrogen producer Ecolectro, carbon capture and removal service provider Air Company, and energy storage and battery producer e-Zinc and AM Batteries.
Emphasizing the importance of these investments, Toyota Ventures Founder and General Partner Jim Adler said, “With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”
For Gill Pratt, chief scientist of Toyota Motor Corporation, CEO of Toyota Research Institute (TRI), and board member at Toyota Ventures, the company, through these funds, will work closely with innovators to solve the world’s biggest challenges.
“These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible,” said Pratt.
Since its inception in 2017, Toyota Ventures has advanced Toyota’s mobility transformation efforts by investing in more than 75 early-stage startups in diverse industries ranging from artificial intelligence to hydrogen solutions.
“We are explorers. Our role is to understand technology trends and embrace the next generation of disruptive innovation in the long term,” Adler added.
