Mitsubishi Electric Corporation has taken a significant step to boost its innovation efforts by becoming an anchor limited partner, in AT PARTNERS III L.P. fund, a fund-of-funds, that invests in top overseas venture capital firms. This move is aimed at deepening the company’s engagement with startups worldwide and speeding up the development of new business ventures amid fast-changing market and technology landscapes.
AT PARTNERS Inc., based in Tokyo, specialises in investing in venture capital funds across key regions including the US, Europe, and Israel. The firm uses a unique corporate analysis data platform to identify promising startups abroad, providing Japanese companies like Mitsubishi Electric with valuable insights and collaboration opportunities. The third fund managed by AT PARTNERS, known as AT PARTNERS III L.P., continues this global investment strategy.
Through this partnership, Mitsubishi Electric hopes to leverage AT PARTNERS’ extensive network in the global startup ecosystem along with its expertise in open innovation. The company plans to build on its existing collaborations with startups to expand and enhance its business operations.
Nobuyuki Akimoto, Co-Founder and General Partner of AT PARTNERS, Inc., expressed his enthusiasm about the collaboration: “We are honored to welcome Mitsubishi Electric as the anchor limited partner, in our third fund. As one of Japan’s foremost electronics manufacturers, Mitsubishi Electric has long addressed social challenges through technological innovation. At AT PARTNERS, we serve as a bridge between the global startup ecosystem and Japanese corporations. Leveraging our international VC network and proprietary corporate analysis platform, we are committed to supporting Mitsubishi Electric in driving open innovation and exploring new business frontiers. Through this initiative, we also look forward to learning, tackling challenges, and driving meaningful change together as a trusted partner.”
Echoing this sentiment, Komi Matsubara, Executive Officer (Vice President, Business Innovation) at Mitsubishi Electric Corporation, said, “We look forward to enhancing our open innovation initiatives through this strategic partnership with AT PARTNERS, which has deep and wide-reaching networks and expertise in the global startup ecosystem. By accelerating our integration of new technologies and ideas through collaboration with startups, we aim to deliver groundbreaking technological solutions to complex social issues, contributing to a vibrant and sustainable world as well as strengthening our company’s long-term growth and competitiveness.”
This collaboration marks a clear commitment from Mitsubishi Electric to stay at the forefront of technological advancement by tapping into the dynamic and diverse pool of global startups, ensuring the company remains agile and innovative in a rapidly evolving world.
Mitsubishi Electric is committed to tackling global technical challenges, driven by its mission to help build a vibrant and sustainable society through ongoing innovation and creativity. As these challenges grow increasingly complex, the company is expanding into new business areas beyond its traditional focus. Reflecting this commitment, Mitsubishi Electric has been supporting and partnering with startups via its ME Innovation Fund since 2022.
