TDK Corporation announced today that subsidiary TDK Ventures Inc., its corporate venture capital arm, is expanding into the European market with plans to invest in startups in the region. The company selected London as the site of its first outpost for its ambitious quest to nurture energy transition, electrification, and decarbonization throughout Europe.
At the same time, TDK Ventures will initiate its $150-million (USD) multi-LP Fund EX1. The fund will focus on both European and North American-based energy-transformation startups in Seed and Series A stages.
After thorough research, TDK Ventures chose London due to its deep venture capital density as well as startups and investment funds that focus on the environment. The company also was impressed with the city’s overall venture innovation ecosystem that comprises entrepreneurially minded scientific talent, a world-class university system, top-tier climate investors (both early and growth), a centralized location, and access to strong public markets.
“TDK Ventures has earned a reputation for successfully investing in and supporting highly innovative startups featuring incredible disruptive technologies in the realm of electrification and decarbonization,” stated Lord Dominic Johnson, UK Minister of State in the Department for Business and Trade, who is a veteran of over 25 years in the financial-services industry. “I wish them much success in their efforts in combatting the many climate issues that face us. I am thoroughly delighted London was chosen as the site for their first European office and I look forward to their participation in the European market and enthusiastically welcome them to the city of London.”
“Globally, London ranks third in climate-tech funding, and third in the number of climate and energy-tech investors,” explained Nicolas Sauvage, President, TDK Ventures. “The latter ranking rises to No. 2 in the world when all of the UK is included. It also has corporate-friendly governance as well as familiar taxation, board structures, and a legal environment for venture-backed startups to find appropriate exits. This, coupled with the presence of many large-scale, late-stage, and growth-equity funds led us to decide on London as our first outpost in Europe.”
Sauvage continued that “TDK Ventures is very thankful for and appreciative of the strong support we have received from the Venture Capital Unit of the UK Government Department for Business and Trade over recent years.”
The recent breakthroughs in materials science and advanced manufacturing in the European Union have created a watershed era for electrification and decarbonization projects. TDK Ventures has a history of helping entrepreneurial organizations in this space access the resources they need to scale production and commercialize their products as key components of global carbon neutrality.
“I am delighted that TDK Ventures has chosen London as the site of its first European office,” said Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific. “Including UK companies as potential recipients in its new $150-million Fund EX1 is a testament to the strength of the UK’s tech sector, which raised $31.1 billion in VC funding last year, making the UK the third largest market in the world for tech investment. I look forward to seeing TDK Ventures thrive in the UK in supporting our efforts to tackle climate change.”
