Investment in Counterpart Ventures Fund II, run by the venture capital Counterpart Ventures in Silicon Valley

Chubu Electric Power Co., Inc. has made a capital investment in the venture-investment fund, Counterpart Ventures Fund II (the “Fund”), established by the venture capital Counterpart Ventures based in Silicon Valley in the United States.

The Fund offers investment in U.S. software or service ventures with advanced technology or innovative business model, operating in the BtoB and BtoBtoC categories mainly in retail, finance and manufacturing industries.

Counterpart Ventures is a venture capital jointly founded by two former leaders of corporate venture capitals targeting Japanese and U.S. businesses, well-versed in business companies and their open innovation and business development.

Through this Fund, Chubu Electric Power will gain insight into cutting edge business models in the United States, and accelerate collaboration with ventures that have strong potential, thereby embracing new technologies / business models and creating services in an effort to provide “New Community,” as stated in its management vision.

The latest investment will be funded by the corporate venture capital, Chubu Electric Power Community Support Fund, which was established in April 2019 as an internal fund for swiftly investing in venture businesses and venture investment funds that have advanced technology or innovative business model.

[Overview of Counterpart Ventures Fund II]