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The fund manager of the Renault Nissan MITSUBISHI Alliance said the fund has agreed to five investments in four months, with a total amount of $50 million, and will submit another investment plan to the fund's board of supervisors next week.
The Renault Nissan MITSUBISHI alliance, which set up the venture capital fund in January this year, plans to invest up to $1 billion in five years, hoping to adapt to the industry's rapid change through investment start-ups.
"Our idea is to make a new investment in a month," said Francois Dossa, director of the alliance venture capital fund, told Reuters.
The fund's investment targets include the US company Ionic Materials for developing solid state cobalt free battery materials, the French company Kalray for developing auto driving microprocessors, and the Shift for buying and selling used car platforms in the United States.
The fund also invested in Li Kaifu's creation, an artificial intelligence based Innovation workshop, and has decided to invest in Maniv Mobility, an automotive technology fund, with the support of Jaguar Land Rover and Europe's largest listed auto parts manufacturer, Valeo.
"We think this is a good way to better understand the Israeli ecosystem... We see great potential here," said former banker Dossa. He added that it is possible to sign an agreement with Maniv within a few days.
He refused to provide the details of the sixth investment. The related investment has not been approved.


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