Toyota Motor has revamped and expanded its risk fund to include climate change

Toyota Motor has revamped and expanded its risk fund to include climate change

Toyota Motor Corp. represents its corporate investment as Toyota Ventures and adds two early-stage funds, including one aimed at investing in startups that develop solutions for climate change and carbon neutrality.

The Japanese automaker is strengthening its four-year investment group, formerly known as Toyota AI Ventures, by adding $ 150 million to the Frontier Fund and $ 150 million to the Climate Fund, Toyota said Thursday, boosting all assets over $ 500 million.

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The Frontier Fund will continue to invest in areas such as artificial intelligence, automated vehicles, cloud computing and robotics, and its goal includes smart cities, digital health, fintech, materials and energy, the company said.

The Climate Fund will focus on technologies and companies that work to accelerate carbon dioxide reduction.

“We believe there will be tremendous disruptive innovation in these areas,” especially in start-ups, said Jim Adler, CEO of Toyota Ventures.

“Toyota wants to look outward so that the company can enter the initial community that is pursuing the same goals as Toyota – to lower its carbon footprint and reach carbon neutral.”

Toyota’s venture weapons, since its inception in 2017, has invested in nearly 40 startups in a variety of sectors, from electronic scooters to self-driving shuttles.

Progress teams include BMW AG, Hyundai Motor Co., Airbus SE and Intel Corp. has invested in various startups along with business risks.

Toyota has a second, more recent venture called Woven Capital, which works with the company’s Woven Planet team on future transportation strategies and investments.

Adler said Toyota Ventures will continue to focus its investments on early-stage companies, and Woven Capital aims to fund companies with more mature growth stages.

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