News Summary

Hitachi Ventures has successfully raised $400 million for its fourth investment fund, aiming to back startups in a variety of deep tech sectors, including energy, biotech, and AI. The fund will primarily focus on Series A investments, with initial investments averaging $5 million, and it has reserved 55% of its capital for follow-on opportunities. Despite its affiliation with the Japanese conglomerate Hitachi, the Munich-based venture capital firm operates more like a traditional VC, making independent investment decisions. The fund will collaborate with Hitachi to help portfolio companies understand potential customer needs but does not guarantee business deals. Previous investments by Hitachi Ventures include companies like battery recycler Ascend Elements, fusion startup Thea Energy, and AI-driven firms such as Ema and Strikeready.