Toyota Research Institute – Advanced Development Inc. (TRI-AD) has created Woven Capital LP, an $800 million global growth-stage investment fund to help develop innovative technologies and business models in areas like autonomous mobility, automation, artificial intelligence, machine learning, data and analytics, connectivity and smart cities.
Woven Capital is part of the holding company Woven Planet Holdings Inc., which will begin operations in January 2021.
In addition to sourcing deals from Toyota AI Ventures, Woven Capital also will invest in other venture capital funds in order to broaden and accelerate its global coverage. Woven Capital LP will be based in the United States.
“Woven Capital’s investments will enable us to weave together a global portfolio of partners and technologies that will deliver long-term value to our customers, stakeholders and society. Woven Capital will also enable us to make growth-stage investments in companies in the Toyota AI Ventures portfolio as they look to raise additional capital,” said James Kuffner, CEO of TRI-AD.
Toyota AI Ventures, based in California, is Toyota’s first independent early-stage venture capital fund that invests in startups from around the world in artificial intelligence, autonomy, mobility, robotics, data and the cloud.
While Woven Capital won’t begin operations until January, the company is recruiting team members now. For more information on applying, visit tri-ad.global/work-with-us.