HomeUSAToyota Ventures Raises $300M For Two Funds

Toyota Ventures Raises $300M For Two Funds

Toyota Ventures Raises Another $300 Million to Expand Early-Stage Investments in Frontier Technology and Climate Solutions

Toyota Ventures, the Los Altos, CA-based early-stage venture capital arm of Toyota, launched two $150m funds to expand its investments in startups developing disruptive technologies and business models at the forefront of innovation.

The addition of the new funds, Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II), brings the firm’s total assets under management to over $800m. 

TVFF II will focus on deep technology startups in areas like AI, robotics, mobility, cloud, and quantum computing, to expand Toyota Ventures’ international presence. The new fund will be led by Frontier Fund partner David Sokolic, a veteran investor and operating executive. Portfolio companies in the initial Frontier Fund include satellite servicing provider Starfish Space, biosensor maker Scentian Bio, and quantumcomputing software startup Haiqu, among others.

TVCF II will seek out startups developing smart, scalable solutions that combat climate change and promote environmental sustainability. It will build on the firm’s inaugural climate-focused fund, which launched in 2021 and grew to a portfolio of 18 companies under the leadership of Climate Fund partner Lisa Coca. The first Climate Fund portfolio includes companies in renewable energy like Avalanche Energy; energy storage and batteries like e-Zinc and AM Batteries; carbon capture, removal and utilization like Air Company and Living Carbon; hydrogen solutions like Ecolectro; and other areas aligned with Toyota’s carbon neutrality goals. 

Led by Jim Adler, founder and general partner, Toyota Ventures is the early-stage venture capital arm of Toyota. Since its founding in July 2017, the arm has invested in more than 75 startups across areas ranging from artificial intelligence and robotics to hydrogen solutions and renewable energy. The arm has portfolio companies in North America, Europe, the Middle East, and Asia-Pacific.

Beyond capital, Toyota Ventures aims to leverage Toyota’s global network, deep technical expertise, and strategic partnerships to assist startups in its portfolio. It has a portfolio support team dedicated to providing guidance in product and business development, fundraising, marketing, and other areas to help companies scale effectively.

VCWire

11/04/2024