TDK Ventures Inc, a subsidiary of TDK Corporation, has announced the launch of its third fund, named Fund EX1. With total capital of $150 million, Fund EX1 will focus primarily on early-stage investments in energy transformation, cleantech, and climate science startups in the United States and Europe. This marks TDK Ventures’ first foray into the European market as it expands its investment portfolio.
Based in San Jose, California, TDK Ventures has built a strong reputation for investing in the climate technology sector. Over the years, the company has made ten investments in this sector, supporting such notable companies as Wheels, acquired by Helbiz Inc, Autoflight (an electric vertical takeoff and landing vehicle company), Ascend Elements (a battery recycling company), Span.io (a smart electric panel company), and GenCell (an off-grid backup power solutions company that went public on the Tel Aviv Stock Exchange). In addition, TDK Ventures has invested in Divirod, Verdagy, AM Batteries, pH7 Technologies Inc, and Type One Energy.
Supporting the energy transition
The new fund, Fund EX1, is named “EX” to symbolize energy transformation, emphasizing its commitment to investing in early-stage companies that drive advances in the energy sector. The fund aims to support start-ups involved in energy transition, electrification and decarbonization. By investing in these innovative companies, TDK Ventures intends to contribute to a sustainable future and promote the development of cutting-edge technologies.
Amperex Technology Limited (ATL), a Hong Kong-based rechargeable lithium-ion battery specialist and subsidiary of TDK, will be a limited partner for the EX1 fund. With ATL’s expertise and TDK Ventures’ track record in sustainability and partnering with entrepreneurial pioneers in the energy industry, this collaboration is expected to bring valuable insights and opportunities to the fund.
