Corundum Innovation Co., Ltd. and Corundum Ventures Ltd. announce the initial closing of Corundum Open Innovation Fund II (COIF II), which invests in promising Israeli high-tech startups. In addition, Corundum Innovation has launched consulting service for new business development for the investors of COIF II.
Nikon Corporation, NGK INSULATORS, LTD., a consumer goods companies, and other Japanese companies invested in COIF II. We continue to seek for additional investors until the final closing of COIF II.
The first fund, COIF I, invested in several startups and a Vertex fund managed by Vertex Ventures, a top Israeli venture capital firm. Corundum Innovation has been providing consulting services to COIF I’s investors for investors’ new business development, utilizing non-public information obtained through the fund activities. Eleven direct/indirect portfolio startups of COIF I have completed their exits through M&A and IPO, which has brought outstanding financial return to the investors. Corundum has also contributed to investors’ new business developments through investors’ direct investment, partnering and so forth.
COIF II will also invest in promising Israeli startups and top VC funds for higher achievements, expanding and deepening the COIF I scheme. COIF II widely covers investment domain, for example, smart manufacturing, cleantech, AI, agriculture, food, materials, digital health, cybersecurity, automation, robotics, life sciences, and fintech. Collaborating with COIF II also enhances the quality and quantity of the sourcing capability in our consulting service. Corundum will support for investors’ business development activities with the combination of COIF II and Corundum’s various high expertise.
Strengths of COIF II and the Consulting Service
- Early access to promising startups by investment members with years of investment experience in Israel.
- Investment members’ over-25-year experiences in VC, PE, entrepreneurship and management. Some members are executives of major VC firms and have been ranked in Forbes’ “The Midas List”.
- Access to a wide range of non-public information that is not recorded in publicly-available databases. Corundum has strong networks with other top Israeli VCs.
- No restriction of domain to invest in promising startups because of the wide range of investment areas.
- Flexible support for business development by experienced consulting members
- Consulting members’ experiences in technology, finance, business development, and corporate management at large companies.
- Flexible supports on individual need of fund investors, utilizing on the information from COIF II activities.
- Comprehensive support in various phases which includes strategic planning, startup search, and partnering negotiation.
About Corundum Innovation
Corundum Innovation Co., Ltd., and Corundum Ventures Ltd. (Hereafter Corundum) provide venture capital (VC) investment and consulting services to investors for both financial and strategic returns. Corundum provides flexible services to COIF’s investors for new business development in various phases with our expertise in science, technology, business development, corporate management, finance and consulting, as well as our strong network with top Israeli VC and the valuable information we can access through fund activities. Corundum’s support includes information gathering, negotiation for partnership, direct investment, market development, HR development, and fund formation.
Corundum Innovation Co., Ltd.
This release is for informational provision only, and does not constitute any solicitation to engage in any specific transaction or to acquire any interest in the fund.