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Japan launches 100m euro fund to invest in Nordic, Baltic tech companies

[HELSINKI] The Japanese government along with several companies has established a 100 million euro (S$153.6 million) fund to invest in Nordic and Baltic technology firms.

Japan Bank for International Cooperation has partnered with Panasonic Corp, Honda Motor, Omron Corp and others to launch the fund.

"In addition to successful investments, the goal for the fund is to better link Japanese corporations to co-operate with the Nordic technology firms and innovations. So far the corporations feel that they have had limited access historically to the Nordic startups," investment director Claes Mikko Nilsen told Reuters,

The Helsinki-based fund will invest 2 million to 5 million euros in companies in sectors like autonomous mobility, artificial intelligence, virtual reality and Internet of Things.

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Only a few Japanese firms have made notable investments in the region.

Taizo Son, the youngest brother of Softbank Group Corp's Chief Executive Masayoshi Son, has invested in Estonian startups Funderbeam, Jobbatical and Lift99 through his investment vehicle Mistletoe. 

REUTERS