Panasonic Invests Additional $150 Million in Venture Capital with Conductive Ventures II

Fund II represents a 50% increase in capital commitment compared to the company's capital commitment for the first fund established in early 2017

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Panasonic Corporation of North America

Sep 14, 2020, 09:00 ET

NEWARK, N.J., Sept. 14, 2020 /PRNewswire/ -- Panasonic Corporation announced today the launch of Conductive Ventures II, with a commitment of $150 million, a 50% increase from the first fund. Headquartered in California, the new fund will invest in expansion stage enterprise software and hardware technology companies in the areas including artificial intelligence, financial technology, digital health, future of work, commerce, autonomous vehicle technologies, advanced manufacturing, among others. The first fund invested in companies such as Ambiq Micro, Blueshift, CSC Generation, Desktop Metal, Gen. G, Jackpocket, Proterra, Self, Sprinklr, Survata and Versatile. Despite the young vintage of Fund I, one of its first investments, Desktop Metal, has announced its intention to go public.

Panasonic has invested in Silicon Valley start-ups with cutting-edge technologies for over 20 years since 1998. As a member of the venture capital community, the company has been supporting these portfolio companies by providing business development and sales and cross-border expertise.

"Uncertainty is rife in today's global economy," said Carey Lai, Managing Director of Conductive Ventures, the venture capital firm managing the two funds. "We're committed to helping expansion stage companies build on their foundation, leverage their talent and innovation, and weather the storm to bring to market ideas and technologies that will have a positive impact on their respective industries and – collectively – on the economy."

Conductive Ventures, led by venture capitalists with experience from IVP, Kleiner Perkins and Intel Capital will continue to spearhead investments in expansion stage companies that have initial product-market fit and early customer success. By collaborating with these technology companies to explore new business opportunities, Panasonic seeks strong financial returns and potential to drive future growth.

Overview of asset management company of the new fund Conductive Ventures II:

Company Name	Conductive Ventures II, LLC
Location	California, United States of America
President	Carey Lai
Launch Date	September 14, 2020

About Panasonic
Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. The company, which celebrated its 100^th anniversary in 2018, has expanded globally and now operates 528 subsidiaries and 72 associated companies worldwide, recording consolidated net sales of 7.49 trillion yen for the year ended March 31, 2020. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: https://www.panasonic.com/global.

SOURCE Panasonic Corporation of North America