Hitachi said it will invest in a supplemental fund to Geodesic Capital‘s 2015 maiden venture-capital fund. The investment size was not disclosed.
The fund, Geodesic Capital Fund I-S, will target up to $165 million and back Silicon Valley companies.
Geodesic Capital was established in 2015 by John Roos, a former ambassador to Japan; Ashvin Bachireddy, formerly of Andreessen Horowitz; and Mitsubishi. It aids U.S companies in their entry to Japan and connects Japanese companies with Silicon Valley.
Along with the investment, Hitachi America will establish a global open innovation division on April 1 to work with startups.
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