Panasonic to Establish New Venture Capital Company, Panasonic Ventures, LLC
Panasonic Corporation today announced that it will establish a new company, Panasonic Ventures, LLC, in April 2017. The new venture capital firm, based in California, will invest in start-up companies mainly in the United States, with initial investments of around $100 million.
Panasonic has invested in Silicon Valley start-ups with cutting-edge technologies for nearly 20 years since 1998. As a member of the venture community, the company has been helping these firms grow by providing a wide array of in-house technologies and human resources.
Going forward, Panasonic Ventures, with new external venture capitalists, will spearhead Panasonic’s investments in start-ups that have unique business models or products and services not bound by the company’s existing business fields. Through these investments, as well as collaborating with these firms to explore new business opportunities, Panasonic looks to create new businesses that will drive its future growth.
Overview of new company:
|Company Name||Panasonic Ventures, LLC (PVL)|
|Location||California, United States of America|
|Foundation||April 1, 2017|
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Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. Since its founding in 1918, the company has expanded globally and now operates 474 subsidiaries and 94 associated companies worldwide, recording consolidated net sales of 7.553 trillion yen for the year ended March 31, 2016. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: http://www.panasonic.com/global.
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