ANNOUNCEMENT 13 Feb 2019
On February 13th, 2019, the Innovation Network Corporation of Japan (INCJ) announced an additional capital injection in the Japanese company "Dynamic Map Infrastructure Co., Ltd"d Partnership.
NUMBER OF INTERVENTIONS
INCJ (2019) ダイナミックマップ基盤株式会社への追加出資について 「About additional investment in Dynamic Map Infrastructure Co., Ltd.」
On February 13th, 2019, the Innovation Network Corporation of Japan (INCJ) announced an additional capital injection in the Japanese company "Dynamic Map Infrastructure Co., Ltd" for 18 billion yen (16.6 million USD). The investment relates to Dynamic Map Infrastructure's automatic driving technology, advanced driving support systems and high-precision three-dimensional road map.
On June 13th, 2017 the INCJ made its original investment of 3.7 billion yen.
About the Innovation Network Corporation of Japan (INCJ)
In 2009, INCJ was created as a public-private investment fund to financially support industries "next-generation businesses". INCJ supports projects that "combine technologies and varied expertise across industries and materialize open innovation.". According to the INCJ website, the fund has an investment capacity of up to USD 20 billion. Although characterized as a public-private partnership, in fact only 0.1 billion of the 2.6 billion USD invested in the fund was provided by the private sector. The rest came from the Japanese government. Of the 0.1 billion USD said to be contributed by the private sector, 13.6 million USD was in fact provided by the Development Bank of Japan, a state-owned bank.