Business
Sony is the Latest Japanese Company Looking to Tap Israeli Startups With New Fund
By Itzhak Rabihiya
In the first half of 2019, Japanese investors backed 34 Israeli companies, up from 28 companies in 2018
Sony Corp. is the latest Japanese company looking to tap Israeli startups. Last week, the company announced a plan to establish a joint fund with Daiwa Capital Holdings Co., Ltd., a subsidiary of Tokyo-listed investment bank Daiwa Securities Group Inc. The fund, called Innovation Growth Ventures (IGV), is aiming to raise $185 million to invest in tech startups in Japan, Europe, the U.S., and Israel – Calcalist Newspaper reports today (9.7.2019).
In the first half of 2019, Japanese investors backed 34 Israeli companies, up from 28 companies during the entire year 2018, Elchanan S. Harel, president of Harel-Hertz Investment House Ltd., an investment firm promoting business between
Last week, Tokyo-listed Japanese advertising and public relation corporation Dentsu Inc. backed Tel Aviv-based digital communication startup Imprint. Back in June, Dentsu announced it was scouting Israeli startups for investment and collaboration opportunities. To support its operations in
In May, Mitsubishi Corp. opened a Tel Aviv office to operate as a business intelligence outpost. Mitsubishi is the third Japanese general trading company to set up a local development center in the country, after the Mitsui Group and the Marubeni Corporation. Japanese multinational the Hitachi Group also has a center in
In October, Japanese insurance company Sompo Holdings Inc announced it was launching an innovation hub in Tel Aviv, which will serve as a local operational branch of the company’s digital division.
There is a rising trend of Japanese delegations and businesspeople that come to
This trend is growing and more and more Japanese corporations are creating investment funds specifically for Israeli companies, he said.
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