TLDR:
- Sony Ventures plans to seek international investors for its next fund, expanding to Europe and Africa
- The corporate venture unit aims to focus on content as well as tech in its investments
Sony Ventures, the CVC arm of Sony, is making a strategic shift towards an international focus for its next fund. The newly-appointed CEO, Kaz Hadano, plans to invite non-Japanese investors, particularly from Europe, to be limited partners in the fund. The team is working on a fundraising plan to be finalized within the next year, aiming to double down on international expansion and attract a global LP base. The move marks a significant change for the Japanese CVC sector, as Japanese companies have traditionally been more inward-facing with their backers.
With a global remit in its investments, Sony Ventures has offices in multiple countries and recently launched a $10 million Africa fund. The unit is refining its global investment strategy, focusing on different sectors in various territories. For instance, in Africa, the focus is on content creators, especially local music and manga. The unit is partnering with organizations like the World Bank’s International Finance Corporation to find startups in Africa and engaging with other Sony entities like Sony Music and Sony Pictures. Sony Ventures is investing between $250,000 and $1 million per deal out of the Africa fund.
In terms of technology investments, Sony Ventures is looking at strategies like artificial intelligence, blockchain, and quantum computing. The unit is exploring different methodologies in these technologies and working closely with the company’s tech specialists to find where these technologies can be effectively utilized within the group. Sony Ventures has a planning committee that includes company executives and tech specialists, ensuring a strategic alignment between the investments and Sony’s business objectives.
