MUFG Bank announced the establishment of Marunouchi Climate Tech Growth Fund L.P. in partnership with Mitsubishi Corporation and Pavilion Private Equity Co., Ltd.
With Marunouchi Innovation Partners Co., Ltd. as its general partner, the fund aims to invest primarily in climate-tech startups to promote growth and contribute to a carbon-neutral society.
The climate-tech sector is critical to the development and diffusion of advanced technologies and is expected to have a high demand for financing in the medium to long term.
By investing in climate-tech start-ups, the Fund aims to commercialize and expand the advanced technologies of these companies, thereby increasing their corporate value and helping to address global climate change issues.
MUFG Bank has a long history of supporting its clients' efforts toward decarbonization and innovative technologies.
Together with its lead sponsor, the Mitsubishi Corporation Group, the fund will leverage industry knowledge and business networks to seize investment opportunities and support the growth of investee companies.
The fund is expected to have $400 million at its inception, with a target fund size of $800 million to $1 billion.
It will focus on investing in climate technology start-ups to foster growth and promote advanced technologies.
MUFG Bank, Ltd., Japan's leading bank, operates a global network in approximately 50 countries.
The bank provides various commercial and investment banking products and services to corporations, governments, and individuals worldwide.
Its parent company, Mitsubishi UFJ Financial Group, Inc. (MUFG), is a leading global financial group with over 360 years of history. MUFG is in over 50 countries, with approximately 2,100 offices and 160,000 employees.