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Announcement Date: September 10, 2020
In September 2020, Sony Corporation (hereafter “Sony”) established the corporate venture capital fund, “Sony Innovation Fund: Environment.” This initiative aims to nurture ventures that specialize in innovative environmental technologies, reflecting Sony’s commitment to sustainability and ecological responsibility.
Overview of the Sony Innovation Fund
Originally launched in July 2016, the Sony Innovation Fund was created to invest in seed to early-stage startups. With a global presence through offices in Japan, North America, Europe, and India, Sony has completed over 60 investments across diverse business sectors, including artificial intelligence, robotics, mobility, IoT, medical technology, fintech, and entertainment.
Joint Ventures and Collaboration
In March 2019, Sony formed a joint venture with Daiwa Capital Holdings, Inc., resulting in Innovation Growth Ventures, Inc. This collaboration established a larger joint fund, Innovation Growth Fund I L.P., enabling Sony to invest in mid- to later-stage ventures. The Sony Innovation Fund has consistently supported its portfolio companies by facilitating collaboration on technology, joint development, and business partnerships.
Sony’s Environmental Vision
Sony’s long-term vision aims for a “zero environmental footprint” by 2050, encompassing the entire life cycle of its products and business activities. The company seeks to promote initiatives that positively impact the global environment through technology and business practices. The Sony Innovation Fund: Environment, as its third corporate venture capital fund, focuses on supporting companies addressing critical global environmental challenges, including climate change and biodiversity.
Investment Plans and ESG Criteria
Initially, the fund will invest 1 billion yen, primarily targeting seed- to early-stage startups, with potential for future expansion based on activity levels. Sony envisions achieving both environmental contributions and financial returns, with plans to incorporate Environmental, Social, and Governance (ESG) criteria into its investment evaluations.
Comment from Leadership
Toshimoto Mitomo, Executive Vice President of Sony Corporation, commented, “Through our corporate venture capital activities, Sony has promoted open innovation by nurturing next-generation technologies and startups. The new environment-focused fund aims to accelerate innovation that addresses global environmental issues and contributes to societal progress.”
Commitment to Sustainable Solutions
Sony is dedicated to searching for both internal and external technologies and ventures that can effectively tackle environmental challenges. By providing investment capital and commercialization support, Sony aspires to foster a more sustainable society.
Cautionary Statement
This release contains forward-looking statements regarding Sony’s plans, strategies, and beliefs. Such statements may include terms like “believe,” “expect,” “plan,” and similar expressions that indicate future performance. These statements are based on management’s current assumptions and judgments, and actual results may differ due to various risks and uncertainties. Investors should not place undue reliance on these forward-looking statements, as Sony does not assume any obligation to update or revise them.
Risks and Uncertainties
Several factors may affect Sony’s performance, including challenges in maintaining product quality, competition in technology markets, regulatory changes, and economic conditions. Additionally, risks related to cybersecurity, recruiting skilled personnel, and potential legal proceedings can also impact the company’s operations and financial performance. The ongoing effects of COVID-19 may further exacerbate these risks. For detailed information on risks, refer to Sony’s most recent Form 20-F filed with the U.S. Securities and Exchange Commission.
