- Pegasus partners with Mitsubishi for startup-driven materials innovation.
- Focuses on global R&D acceleration via Silicon Valley, Europe, Asia.
- Builds on MMC Fund since 2019 for new value creation.
Pegasus Tech Ventures, a global venture capital firm based in Silicon Valley, and led by Founder and CEO Anis Uzzaman, announced a strategic partnership with Mitsubishi Materials Corporation, a major Japanese non-ferrous metals manufacturer in Tokyo, led by President Tetsuya Tanaka, to accelerate Mitsubishi's innovation agenda through Pegasus' extensive global investment network and corporate innovation experience.
This partnership allows Mitsubishi to accelerate its research and development by collaborating with groundbreaking startups in regions such as the U.S. (including Silicon Valley), Japan, and Europe to explore new business models and ideas to apply in materials technology.
This builds on Mitsubishi's MMC Innovation Fund, established in 2019 to enable collaborative R&D and accelerator programs to promote industry-academia collaborations. Since 2023, Mitsubishi has leveraged Pegasus' global network to identify and evaluate potential opportunities.
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Yoshiyuki Nagatomo, General Manager of Mitsubishi's Manufacturing & R&D Strategy Division, stated, "Pegasus has a proven track record... Through this strategic partnership, we expect to further accelerate our innovation activities. As we utilize technology and models from startups, we will create new value from within our organization." Anis Uzzaman added, "By leveraging our expertise with startups globally, we will be connecting Mitsubishi with world-leading startups, and support research & development... We are incredibly excited to contribute to the next generation of growth for the Mitsubishi Materials Group."
Mitsubishi Materials focuses on sustainable resource circulation "for people, society and the earth." Pegasus manages over $2 billion in assets, and provides Venture Capital-as-a-Service (VCaaS) services to its 40+ corporate partners, including Marathon Petroleum, ASUS and many others.
Pegasus has invested in over 280 companies including notable names such as SpaceX, OpenAI, and Airbnb. Pegasus also hosts the Startup World Cup around the world on 6 continents and 100+ regions. This partnership represents Japan's push for more technology-enabled materials innovation in response to emerging global sustainability challenges.