Panasonic Won’t Disclose Total Capitalization of Its New Venture Capital Firm
Panasonic isn't disclosing the total capitalization of Panasonic Ventures, the company’s new venture capital firm, spokesman Jim Reilly emailed us Thursday. Panasonic Ventures will be headquartered in Cupertino, California, under the direction of President Masahiro Kinoshita, whose “most recent assignment”…
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was as director-M&A business creation at Panasonic AVC Networks North America, based in Newark, New Jersey, Reilly told us. The new firm “will invest in start-up companies mainly in the United States, with initial investments of around $100 million,” Panasonic said Thursday. “Panasonic has invested in Silicon Valley start-ups with cutting-edge technologies for nearly 20 years since 1998,” the announcement said. The charter of Panasonic Ventures will be to “spearhead Panasonic's investments in start-ups that have unique business models or products and services not bound by the company's existing business fields,” the company said. “Through these investments, as well as collaborating with these firms to explore new business opportunities, Panasonic looks to create new businesses that will drive its future growth.”