September 4, 2024
Tokyo, Japan – September 4, 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 UMI3 Investment Limited Partnership (Hereinafter abbreviated as UMI), a fund organized by Universal Materials Incubator Co., Ltd., a venture capital firm specializing in investments in the materials and chemical industries.
Background
As the external environment has become more complex in recent years, the needs of functional chemical manufacturers have become diverse.
In order to solve diversifying issues, it is important to rapidly introduce new technologies and products to the market by utilizing external resources as well as internal resources.
Purpose of Investment
In order to create new products and solutions with environmental and social value, we are exploring new materials and innovative production technologies from a medium- to long-term perspective. Through this investment in the UMI3 Fund, the Company will support the commercialization of promising next-generation materials and chemical startup companies, pursue knowledge in the three strategic areas (“ICT”, “Mobility”, “Healthcare”), and contribute to solving social issues by developing functional chemicals in line with the SDGs.
Outline of UMI3 Investment Limited Partnership (UMI3 Fund)
| Name | : | UMI3 Investment Limited Partnership |
|---|---|---|
| Date of Establishment | : | October 7, 2022 |
| Duration | : | 10 years (with 2-year extension option) |
Contact information]
Corporate Planning Dept., Sumitomo Bakelite Co., Ltd.