MOL to set up corporate venture capital fund firm

Japanese shipping company Mitsui O.S.K. Lines (MOL) has determined to establish a wholly-owned corporate venture capital fund firm called MOL PLUS. 

The venture capital fund will be based in Tokyo and plans to make a broad range of investments, with its investment ceiling reaching JYP 4 billion ($ 38.6 million).

The investments will target mainly early and middle-stage startup companies around the world, that can reform ocean shipping business models and create new businesses from mid-to-long-term viewpoints.

“These investments will be centered on domains that can reform business models in ocean transport and logistics, and other domains relating to the MOL Group’s future, such as offshore, environment, ferries, and cruise ships businesses,” MOL said.

“MOL PLUS aims to generate synergetic effects by combining innovative ideas and technologies from startup companies with MOL Group resources to create new businesses that will PLUS new value to the ocean shipping industry and society. “