Mitsui Chemicals, Inc., a Japanese multinational chemical manufacturing company, today announced the launch of its second corporate venture capital fund, “321Catalyst™,” and the establishment of a wholly owned subsidiary, “321Catalyst Ventures, Inc.” to manage the fund.
The launch of 321Catalyst™ builds on the success of its first fund, “321FORCE™,” established in 2022 in partnership with Japanese venture capital firm Global Brain, to accelerate the building of global innovative partnerships and drive the incubation of new products and businesses. By establishing a new, independently operated fund in the U.S., Mitsui Chemicals will further increase its investment in innovative global startups that are aligned with its strategic direction. Deep innovative collaborations with portfolio companies will give Mitsui Chemicals a head start in business competition. The 321Catalyst™ fund will have a size of $60 million and a life of 10 years.
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Mitsui Chemicals has proposed the basic strategy of “building a solution-based business model” in its long-term management plan “VISION 2030”. This move is a deepening and strengthening of this strategy. Mitsui Chemicals will continue to invest in high-quality global startups in the future, accelerate the incubation of new products and new businesses, and transform its business portfolio to achieve its strategic goals.
SOURCE: BusinessWire
