Japan’s SPARX Group to secure about $128.2 mln for its Mirai Creation Fund II

Japanese asset manager SPARX Group has established the Mirai Creation Fund II. Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation (SMBC), are to participate as initial investors in Fund II.

With SPARX as the fund manager and with an initial contribution from Toyota, SMBC, SPARX is totaling approximately 14.3 billion Japanese yen ($128.2 million).

The fund aims to invest in companies and projects to boost innovation within, intelligent technology, robotics, technologies for a hydrogen-powered society, including companies and projects related to the manufacture, supply, and utilization of hydrogen, electrification, and new materials.

Mirai Creation Fund II investment activities are scheduled to begin in August.