Mitsubishi Corporation (MC) has announced the launch of the Marunouchi Climate Tech Growth Fund.

The Marunouchi Climate Tech Growth Fund, managed jointly by Mitsubishi and MUFG bank, will primarily invest in renewable energy, next-generation fuels, storage batteries, and other technologies that capture carbon dioxide from the air. The fund aims to promote collaboration between European and US startups and Japanese and other Asian companies. By April 2024, the fund will be expanded to US$1 billion. As of its initial closing, the Fund has raised US$ 400 million of capital commitment from investors.