February 8, 2024
Tokyo, Japan – February 8, 2024 Sumitomo Bakelite Co., Ltd. (TOKYO: 4203 HQ: Shinagawa-ku, Tokyo, President and Representative Director: Kazuhiko Fujiwara) announced today that it has decided to invest in MPI-3 Investment Limited Partnership (the "Fund"), a fund established by MedVenture Partners, Inc.(*), a venture capital firm specializing in medical devices.
Background
In recent years, the medical device market has been demanding speedier new product development. In addition to developing new products independently, it is also required to quickly bring new products to the market through cooperation with external parties. By increasing the number of startup companies that develop innovative products and technologies and accelerating cooperation with startup companies that can expect synergies, medical devices equipped with advanced technologies and new functions are expected to be brought to the market quickly and contribute to improving the QOL of patients.
Purpose of Investment
Through its investment in the Fund, our company will expand its product lineup by gathering information on advanced medical technologies in Japan and overseas, finding opportunities to collaborate with venture and startup companies, increasing the number of projects, and considering direct investment in startup companies. Our company promotes sustainable management and is actively working to contribute to the SDGs. Through these activities, we will strive to improve our contribution to SDG Goal 3, " Ensure healthy lives and promote well-being for all at all ages" which is an area covered by the SDGs.
Overview of the Fund
| Name | : | MPI-3 Investment Limited Partnership |
|---|---|---|
| Establishment | : | February 1, 2024 |
| Duration | : | 10 years (with option to extend for 2 years) |
For inquiries on this information
Corporate Planning Dept., Sumitomo Bakelite Co., Ltd.