Yet2.com, a U.S. patent distributor
headed by Benjamin duPont, raised $100 million for a fund to
invest in startup companies and is using some of the financing
to tie up with venture capital firm Japan Asia Investment Co.
Under the agreement, yet2.com will help the Japanese firm, also known as JAIC, raise funds and will share returns on investments made through the new fund, said duPont, a direct descendant of the founder of U.S. chemical maker, DuPont Co. Tokyo-based JAIC will help the U.S. firm find potential investments, he said.
Yet2.com raised funds from wealthy individuals including the duPont family and aims to mainly invest in U.S.-based electronics, medical device and environmental technology developers. JAIC is seeking new funding from high-net worth individuals and families after the worst financial crisis since the 1930s sapped demand from institutional investors, said Kazuhiro Umeda, a Tokyo-based senior manager at the firm.
To read the full, original article click on this link: DuPont’s Yet2 Raises $100 Million After Japan Tie-Up - Bloomberg
Author:
