• Hitachi Ventures raised $400 million for its fourth fund, focusing on Series A investments in deep tech sectors like AI, biotech, and energy.
  • The firm operates independently from Hitachi, with investment decisions made by its partners, though it leverages Hitachi’s network for introductions.

Hitachi Ventures has raised $400 million for its fourth fund, marking a strong commitment to deep tech investments. The Munich-based corporate VC firm, which operates independently from its parent company Hitachi, will continue to focus on Series A investments across sectors like energy, manufacturing, biotech, and AI.

“We are open to other breakthrough opportunities,” said managing director and CEO Stefan Gabriel. “There’s a lot around quantum, nuclear, life science, space tech. Not too broad — we have a clear view on what excites us in these areas.”

With an average initial investment of $5 million per company, Hitachi Ventures has set aside approximately 55% of its capital for follow-on opportunities. Partner and CFO Wolfgang Seibold emphasized that this strategy ensures continued support for promising startups within its portfolio.

Despite its corporate affiliation, Hitachi Ventures operates more like a traditional venture fund. Hitachi serves as the sole limited partner, but investment decisions are made by the firm’s partners without requiring corporate approval. This independence allows the firm to act swiftly while still leveraging Hitachi’s resources for strategic introductions.

“We can put you in front of Hitachi, but your product needs to sell itself,” said partner Gayathri Radhakrishnan.

While the fund does not guarantee deals, it offers portfolio companies valuable insights into the needs of a potential future customer.

Hitachi Ventures’ previous investments reflect its broad yet targeted approach. In energy, it has backed battery recycler Ascend Elements, fusion startup Thea Energy, and wastewater-to-energy company Wase.

Its AI investments include enterprise workflow firm Ema, cybersecurity-focused StrikeReady, and Makersite, which enhances supply chain management with AI-driven insights.

Edited by Harshajit Sarmah