Mitsubishi Corp. has announced the launch of the Marunouchi Climate Tech Growth Fund to invest primarily in companies dedicated to decarbonization through the development of climate tech.
The fund is managed by Marunouchi Innovation Partners (MIP), a company jointly established by MC, MUFG Bank and Pavilion Private Equity.
The fund has raised $400 million of capital commitments in an initial closing. MIP plans to raise new investment through additional funding rounds to increase the size of the fund first to $800 million and to $1 billion by final close.
Mitsubishi and MIP plan to help commercialize, scale up and roll out companies’ cutting-edge technologies, which is expected to boost those entities’ corporate value and also support decarbonization.
Mitsubishi and MIP believe the fund has the potential to secure blue-chip investment opportunities.