ITOCHU Corporation

ITOCHU Corporation is one of Japan's largest and most diversified general trading companies, known as "sogo shosha." Its investment activities are primarily strategic, aimed at fostering new business opportunities, integrating innovative technologies, and expanding into emerging markets that align with its vast array of business segments, including textiles, machinery, metals, energy, food, and IT. Rather than operating as a traditional venture capital fund, ITOCHU leverages its corporate balance sheet and extensive global network to act as a long-term strategic partner for its portfolio companies.

The company's investment focus is broad, reflecting its diverse operational interests. It seeks out companies that can offer synergies with its existing businesses or provide access to new growth areas, particularly in digital transformation, next-generation mobility, renewable energy, and healthcare. ITOCHU's involvement often extends beyond capital injection, providing operational expertise, market access, and supply chain integration to accelerate the growth of its partners. This strategic approach means that investment decisions are closely tied to the company's long-term business development plans.

ITOCHU participates in a wide range of investment stages, from early-stage startups to more mature companies. For instance, it has invested in innovative early-stage firms like Sora Technology, participating in its Series A round which totaled approximately $8.2 million, indicating an interest in emerging technologies such as drone infrastructure. On the other hand, ITOCHU also engages in significant strategic investments in established or rapidly scaling companies, exemplified by its participation in Gogoro's Series C round, which raised a substantial $300 million. These investments underscore ITOCHU's capacity to deploy considerable capital for strategically important ventures and its commitment to fostering innovation across its various sectors.

Given its strategic corporate investment model, ITOCHU's typical first check sizes can vary significantly based on the stage of the company and the strategic importance of the partnership. Based on its participation in various funding rounds, initial investments for early-stage startups generally range from approximately $1 million, while more substantial strategic stakes in growth-stage companies can extend up to $30 million or more.