TLDR:
- Toyota launched a new $150 million Climate Solutions Venture Fund through Toyota Ventures to invest in startups focused on climate and environmental sustainability solutions.
- The new fund aims to build on the success of Toyota’s first climate-focused fund by seeking out disruptive technologies and business models aligned with Toyota’s climate neutrality goals.
Toyota, the automotive giant, has announced the launch of the Toyota Ventures Climate Fund II (TVCF II), a $150 million fund created by its venture capital arm, Toyota Ventures. This new fund is the second climate-focused venture capital fund by the company, following the inaugural Toyota Ventures Climate Fund launched in 2021. The initial fund invested in 18 companies providing solutions in areas such as renewable energy, batteries and energy storage, carbon capture, removal and utilization, and hydrogen solutions. Led by Climate Fund partner Lisa Coca, the new fund will continue to focus on startups developing disruptive technologies and business models that align with Toyota’s climate neutrality goals. Alongside the climate fund, Toyota Ventures also launched the Frontier Fund II, which focuses on startups in deep technology areas including AI, robotics, mobility, cloud, and quantum computing. Jim Adler, Founder and General Partner of Toyota Ventures, expressed the company’s commitment to investing in new breakthrough technologies that can help combat climate change and promote environmental sustainability. The launch of these new funds demonstrates Toyota’s dedication to driving innovation in the climate solutions space and supporting startups that are working towards a more sustainable future.
