Panasonic Holdings Corporation announced the launch of Conductive Ventures III, with a commitment of $200 million, a $50M increase from the second fund. Headquartered in California, Conductive Ventures III will invest in early-stage startups in software, hardware, technology-enabled services and blockchain technologies with thematic areas including artificial intelligence, financial technology, digital health, future of work, among others. Some notable investments include CSC Generation – a digital first retail platform, Forte – a blockchain solution for game developers, HireEZ – an AI-based outbound recruiting SaaS solution, Nice Healthcare – a reimagined primary care healthtech solution, Self – a fintech company that helps people build credit, Versatile – a data-driven solution for construction, among others. The firm also has had seven exits to date, including three initial public offerings from Desktop Metal (DM), Proterra (PTRA) and Sprinklr (CXM); a coin distribution from Rally; and M&A exits from Dor (acquired by Constellation Network), Oculii (acquired by Ambarella (AMBA)) and Travelbank (acquired by US Bank (USB)).
“We are fortunate to partner with Panasonic. Having them consistently increase their capital commitment in each fund demonstrates their continued support to finding and funding the most innovative startups. It also serves to validate the vision and strategy we laid out since our inception.” said Carey Lai, Managing Director of Conductive Ventures.
The newly launched fund III will focus on early efficient growth companies led by non-traditional founders. By collaborating with these technology companies and gaining business insights through Conductive Ventures, Panasonic seeks strong financial returns and the potential to drive future growth with well-being and sustainability in mind. This latest commitment reinforces Panasonic’s long-term interest in start-ups with cutting-edge technologies, in which it has invested since 1998.