TDK Ventures launches $150 million Fund EX1 to invest in energy and climate tech startups

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  • EX in the new fund’s name stands for energy transformation, signaling the focus for Fund EX1 on investing in early-stage energy, cleantech, and climate technology startups in the U.S. and Europe
  • Fund EX1 is TDK Ventures’ first multi-LP fund and marks its first foray into Europe

SAN JOSE, Calif., May 19, 2023 /PRNewswire/ — TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures Inc. will launch its third fund, totaling $150 million in new capital. The new fund will target early-stage investments in energy transition, electrification, and decarbonization within the U.S. and Europe. TDK Ventures’ total assets under management is now $350 million.

“As the world strives to build a sustainable future for all, we must recognize the pivotal role that energy transformation needs play in our collective efforts,” stated Noboru Saito, President and CEO of TDK Corporation. “With this new funding, we are doubling down on our efforts to contribute toward innovations in electrification and decarbonization, as these two areas are helping to solve society’s toughest problems. By nurturing the innovative spirit of startups around the world and by providing TDK Goodness to the ecosystem, we hope to contribute to a world where energy transformation drives humanity toward a brighter, more sustainable tomorrow in harmony with our environment.”

“Fund EX1 bolsters our conviction in supporting entrepreneurs who are creating pioneering technologies in the energy transformation and decarbonization sectors,” said Nicolas Sauvage, President, TDK Ventures. “Foundational improvements in materials science, advanced manufacturing, and scale-up are the key to translate innovations developed in academic laboratories towards commercial reality. Our commitment to early-stage innovative startups in climate tech is poised to help accelerate our world toward carbon neutrality.” 

With a track record of sustainability and partnering with innovative entrepreneurs in the energy space, Amperex Technology Limited (ATL), TDK’s Hong Kong-based lithium-ion rechargeable batteries specialist, will be a limited partner to Fund EX1.

“We strive to be a premier global innovative technology company, making exceptional contributions to the green energy resolution for mankind,” said Joe Kit Chu Lam, Executive Vice President, Amperex Technology Limited. “ATL is pleased to join Fund EX1 in its mission to support a greener energy transformation and contribute our part to decarbonization by supporting innovative ecosystems and startups around energy generation and energy storage.” 

TDK Ventures has built a reputation for investing in the climate-tech sector. Since its inception, the company has made ten investments in the sector, backing companies such as Wheels, acquired by Helbiz, Inc.; electric vertical take-off and landing vehicle (eVTOL) company Autoflight; battery-upcycling company Ascend Elements; smart electrical-panel company Span.io; off-grid back-up power-solutions company GenCell, which IPO’d on the Tel Aviv Stock Exchange; water-sensing analytics company Divirod; green-hydrogen company Verdagy; lithium-ion dry-electrode company AM Batteries; designer and implementer of methodologies for sustainable extraction and refining of strategic metals company pH7 Technologies Inc.; and developer of an optimized stellarator fusion-energy system, Type One Energy.

“The expertise of our anchor LPs in electrochemical technologies, advanced manufacturing, and scale-up will allow us to bring to these startups strong technical expertise and access to global markets where TDK operates,” added Sauvage.

With team members in San Jose, CA; Boston, MA; Tokyo, Japan; and Bengaluru, India, TDK Ventures will soon add a team in Europe. To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at [email protected]

About TDK Corporation

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK’s comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures

TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as health and wellness, next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or [email protected].

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