On 1 June, Hitachi is to establish a new corporate venture capital (CVC) fund, Hitachi Ventures Fund, and unit, Hitachi Ventures GmbH (HVG), whose responsibility will be to identify and acquire equity interests in fast-growing innovative start-ups globally.
HVG will hire top external talents with experience and capability on CVC activities to invest to and collaborate with start-ups globally.
Stefan Gabriel, former president of 3M New Ventures, is to be CEO of HVG. The unit will start life with $150M.
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